Mobile Home Values: A Guide to Used Manufactured Home Prices - Mobile Home Repair (2022)

- Mobile Home Ideas - Mobile Home Values: A Guide to Used Manufactured Home Prices

Mobile Home Values: A Guide to Used Manufactured Home Prices - Mobile Home Repair (1)

By MHR

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One of the most attractive aspects of mobile home ownership for many American consumers is the comparatively lower price points that such units are available at when compared to single-family homes. However, many think that the only thing that’s assessed with a mobile home’s value is the mobile home unit itself. While this is certainly a big part of determining a mobile home’s value, it’s hardly the only factor, as things such as dwelling, land and the neighborhood come into play as well.

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This post is designed to give you a comprehensive overview of how mobile home value is assessed and what resources you can check for further information on mobile home values. It’s important information to know, whether you’re looking to sell, buy or just have the details handy for your convenience.

Factors in Assessing a Used Mobile Home’s True Value

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So just what factors impact the real value of a mobile home? Like we said in the opening, it’s more than just the condition of the unit, improvements that have been made to the unit and the type of unit it is (though those factors certainly matter). Here’s a closer look at these aforementioned factors and more:

  • The mobile home unit: Double-wide? Single-wide? According to Cost Helper, it’s estimated that a new single-wide mobile home is worth up to $37,000 and a new double-wide mobile home can carry a value of more than $75,000. Keep in mind that these are estimated mobile home prices for new homes, and obviously things like depreciation and upkeep will play a role in home values over time. Conversely, mobile home updates and improvements can help boost values or help a mobile home retain value.
  • Improvements: A big part of the mobile home unit aside from upkeep and overall condition are any improvements that you’ve done to it. Here’s a look at some of the more common improvements and their potential return on investment:
    • Siding: Vinyl and fiber cement help improve curb appeal, reduce utility costs and come with an 80 percent-plus return on investment (ROI).
    • A deck/porch: Decks help to increase outdoor gathering space, while a porch can actually increase total living space if it isenclosed.Though they may be expensive to construct, the potential ROI for a 16 x 24-foot space is upwards of 90 percent.
    • Bath/kitchen: A simple modernizing of the bathroom and/or kitchen areas can do wonders to the value of your mobile home, with an ROI of anywhere from 70 to 80 percent.
  • Land: Unlike the mobile home, which will likely depreciate over time, the land actually has the potential to increase over time. Yes, it’s that important of a commodity, largely because there’s only so much of it to go around. In fact, in many cases, the land will actually eventually be worth more than the mobile home itself. This doesn’t just apply to mobile homes, but to any type of home.
  • Location: You know what they say about real estate – location is everything. And while a mobile home may not be a conventional piece of real estate and also offers the unique ability to be transported to another location, the location that it presently occupies plays into its value.This is especially true if it is fixed in that location.For instance, is the mobile home located close to schools, hospitals, shopping and entertainment venues? These are important to potential buyers, so such homes will have higher values. What about crime rates, average income and the availability of public transportation? Those are three more factors that can influence value. Finally, there’s also the appearance and condition of other, similar mobile home units in the area. Pay attention to these comparatives, as your unit is likely to be valued similarly.
  • The neighborhood: Like we said in the previous point, the condition of similar-sized mobile home units in the area or neighborhood you live is a good indication of the value of your home. If the homes are kept up well and there’s considerable curb appeal in the neighborhood, that’s going to help home values in that area. Similarly, if your mobile home is nice, but your neighbors’ homes are not, it’s not going to fare well for your home value.

Resources forFinding Mobile Home Values

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So what’s the best way to discover the value of your mobile home? Check the books! Yes, while the book resources typically don’t take the value of land and other factors into consideration, they’re a great way to get an idea of what your mobile home unit is worth. Here’s a closer look at some of the top resources you should turn to if you’re interested in determining your mobile home’s true value:

  • The NADA Manufactured Housing Appraisal Guide: You’ve likely heard of the Kelley Blue Book when it comes to assessing the value of automobiles. Think of this NADA resource as the mobile home equivalent. You simply just browse the book and search for the type of mobile home that you have. You’ll then be presented with an easy, comprehensive step-by-step guide for calculating its value.
  • NADAGuide.com: The only problem with the aforementioned Appraisal Guide is that it can be a tough text to come by and you need the proper year’s text to accurately assess your home. A more convenient resource is NADA’s website, NADAguides.com, where you have the option to purchase a few different types of reports through a special Home Appraisal System. A standard basic used home value report costs about $20, and a more advanced report with more accurate values of various features costs about $50. The basic report is more intended for consumers, while the advanced report is better suited for real estate professionals and appraisers. Both reports will take factors such as the year your home was built, the manufacturer, the home’s size, the location and other features into consideration when conducting the value report. Reports are calculated instantly. Please note, however, that NADAGuides’ reports don’t factor in the value of the property your mobile home is on, which can be important if your mobile home is fixed to a particular piece of land.
  • Research comparables: We’ve already touched a bit on this earlier in this piece, but comparables, or comps, can give you a good general idea of what you can expect your home to value at. In fact, it’s common practice for realtors to analyze what similar homes in the area have sold for when determining what to price the property at. In a sense, comparables are able to provide information that a book cannot when it comes to the neighborhood and greater area where a mobile home is located. And while it’s unlikely that you’ll find an exact match of your specific mobile home, just try to come as close as you can in terms of size, year of manufacture, land, amenities, location (try to pull comps within a half-mile of your property) and condition. Also be sure to try to find a recent sale, not something that was performed years ago, for better accuracy. You can see our guide on finding use mobile homes for sale here.
  • Hire an appraiser: If you don’t trust the books and can’t find (or are unwilling to find) comparables to your mobile home, your next best option is hiring a professional appraiser to value your property (such as DataComp.) Though costly, this is generally the route to take to get the most accurate assessment of your mobile home. When selecting an appraiser, there are a few things you’ll want to keep in mind:
    • Make sure they have experience valuing mobile homes. Every appraiser is different, and you don’t want a rookie when it comes to mobile home assessment.
    • Make sure the appraiser is either certified or has a state license.
    • Consider contacting a realtor or a professional appraiser association if you’re at a loss for whom to hire.
    • Make sure the appraiser plans to visit the property and doesn’t just try to attain information from you on the phone. Ensure you’re available to meet with him/her to answer any questions about the mobile home or area.
    • Expect to pay around $500 for a professional appraisal. While this may seem steep, also consider that you’ll likely be getting a report that’s far more detailed than what you’d attain from NADA.
  • Other online estimators: Though the jury is out as to the accuracy, there are many other websites that you can peruse to gain further insight into what your property is valued at. Most just require that you enter your address and answer some basic common knowledge questions about the home that you’re listing. Like we said, we wouldn’t take any of the findings from these sites as the be-all, end-all, but it can never hurt to get too much information. On that note, we’d suggest browsing these sites in addition to one of the other methods listed in this piece:

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FAQs

How do you find the value of a mobile home? ›

If you're looking to see what your mobile / manufactured home is worth, you can turn to the NADA manufactured homes page for help. There, you can purchase a report that gives you an estimated value of your home. The cost of this report varies from $26 to $50, depending on how detailed of a report you would like.

What is the average useful life of a mobile home? ›

While the average life expectancy of a mobile home is 30 to 55 years, you can still outlast that number. This is best done if you ensure the installation is done properly, choose the right location, and generally adhere to maintenance practices.

How do I find out the make and model of my mobile home? ›

The mobile home manufacturer and model names can be located by using the Department of Housing and Urban Development (HUD) label, which is located on the exterior of the mobile home, compliance certificate or data plate. (The data plate is located on the inside of the home.)

How much is a 1973 mobile home worth? ›

an older home price: 1973 double wide in a nice family park might fetch $120,000 in Carpinteria, near the beach in California. In the same park a newer home of the same size will go for $250,000 or more.

How can I make my mobile home more valuable? ›

Cost-effective fixes, such as painting the interior and exterior, updating plumbing and lighting fixtures, and adding new cabinets and new appliances, are budget-friendly fixes that can make a manufactured home more attractive to buyers.

What is the lifespan of a manufactured home? ›

A report done by the Manufactured Housing Institute placed the average life expectancy of a manufactured home at 55.8 years (mhvillage.com). With the proper upkeep and maintenance, manufactured homes have a long-life expectancy, with the potential to last forever.

What is the difference between a manufactured home and a mobile home? ›

The Difference Between Mobile and Manufactured Homes

The only difference between the two types of homes is the date they were built. According to HUD, a factory-built home prior to June 15, 1976 is a mobile home and one built after June 15, 1976 is a manufactured home.

Can I look up a mobile home VIN number online? ›

Unfortunately, there is no free database that you can access online to get information about your manufactured home. But the data does exist, and it is maintained by the Institute for Business Technology and Safety, a HUD contractor that keeps records back to 1976 of HUD-code manufactured homes.

Is a serial number the same as a VIN number on a mobile home? ›

So moving on, the first place you'll check for your mobile home VIN number is the data plate on the structure's interior. This data plate is a sticker and it lists the VIN number and other data relevant to your mobile home. (Note: sometimes it's also known as a serial number.)

What are my mobile home walls made of? ›

If you're looking at older mobile homes, you're likely to find Vinyl on Gypsum (VOG) wallboards, and most new manufactured homes have either Paper on Gypsum (POG) wallboard or finished drywall options.

What is the Blue Book on a mobile home? ›

The mobile home's equivalent of the Kelley Blue Book is the NADA manufactured housing appraisal guide. It's created by the National Appraisal Guide, Inc., a subsidiary of J.D. Power and compiles its information from the wealth of research done by the National Automobile Dealers Association (NADA).

How much does a mobile home depreciate each year? ›

In general, mobile homes depreciate at about 3-3.5% a year. Working out how much your manufactured house has depreciated can help you to fairly accurately determine the current value of your home. For example, a home that originally cost $50,000 will be worth $ 41,000 after six years.

Do mobile homes lose value over time? ›

A disadvantage of buying a mobile home is that its value will depreciate quickly. Like a new car, once a mobile home leaves the factory, it quickly drops in value. Stick-built homes, on the other hand, normally appreciate in value over time because the stick-built home owner almost always owns the underlying land.

Do manufactured homes increase or decrease in value? ›

It's a common misconception that mobile homes immediately depreciate after the initial sale as cars do. It's impossible to say that every manufactured home will appreciate over time and hold its value. Still, according to a detailed FHFA report, we can see that mobile homes appreciate very similar to stick-built homes.

Do manufactured homes gain value? ›

Instead, manufactured homes depreciate in market value, similar to the way automobiles lose value each day.

Are older mobile homes a good investment? ›

Mobile homes are a terrible investment because they drop in value super fast—the same way your car loses value the second you drive it off the lot. Investing in a mobile home isn't like investing in real estate. Why? Because the land the mobile home sits on is real estate, but the home is considered personal property.

Are manufactured homes making a comeback? ›

Manufactured homes are making a comeback. Bloomberg reports since 2009, the homes have been on the rise. Many home buyers are turning to manufactured homes, because they are more affordable. Features that make them appealing to home buyers, include open floor plans, spacious kitchens and big bedrooms and bathrooms.

How long do mobile home floors last? ›

SHORT ANSWER. The U.S. Department of Housing and urban Development (HUD) tells us that the manufactured homes built today have a life expectancy of 30 to 55 years; of course depending on how well they are maintained. We feel this is a good estimate for the middle ground.

What is the best foundation for a manufactured home? ›

The pier and beam system is the most popular foundation system for manufactured homes. With the pier and beam foundation system, anchors are driven into the ground to hold your home down and protect it from wind forces. The anchors go into the ground first and then steel straps are attached.

Is a double wide the same as a manufactured home? ›

They may have as little as 400 square feet of living space inside. Eligible manufactured homes will be considered “double wide” will be no less than 20 feet in width and have no less than 600 square feet of living space inside.

Which is better a modular or manufactured home? ›

The primary benefits of modular construction over site-built is that modular has more stringent quality control. Every component of every home is manufactured in precisely the same way each time, and results of every process are inspected numerous times before the home leaves the factory.

What is the most affordable manufactured home? ›

Comparing two of the MOST Affordable Manufactured Homes ...

Who makes the most energy efficient manufactured home? ›

#1 The Imperial | 1440 Sq.

Jacobsen Homes sees the value in choosing environmentally friendly construction features and practices. At Jacobsen Homes, a controlled construction process produces minimal waste while preserving energy.

What is the biggest single wide manufactured home? ›

We have a wide variety of single section manufactured homes in a range of prices and styles. Single section homes typically range in size from 14'x56' to 18'x80', which is about 780 sq. ft. to 1,400 sq. ft., so you'll have the space you need along with the features you want.

Can you look a VIN up for free? ›

NICB's VINCheck is a free lookup service provided to the public to assist in determining if a vehicle may have a record of an insurance theft claim, and has not been recovered, or has ever been reported as a salvage vehicle by participating NICB member insurance companies.

Where is the data plate located on a mobile home? ›

The Data Plate is a paper label affixed inside the home and is the size of a standard sheet of paper (8 ½” x 11”). The Data Plate can be found in a kitchen cabinet, an electrical panel, or a bedroom closet.

Can I run a VIN number for free? ›

You can get a free VIN check at the National Insurance Crime Bureau (NICB), VehicleHistory.com or iSeeCars.com/VIN. Just pop in your car's digits and these sites will do the VIN lookup and give you information on the vehicle.

How do you track the history of a manufactured home? ›

To acquire a reliable history of a manufactured home, you will need to conduct a mobile home make and model search through a Housing and Urban Development (HUD) certification number or a serial number along with additional information from a data plate.

How can you tell when a mobile home was manufactured? ›

How to Determine the Year of a Mobile Home
  1. Look for the data plate, which is included on all mobile homes built after June 1976. ...
  2. Read the information on the data plate, looking particularly for the date of manufacture. ...
  3. Look inside the toilet tank for a date stamp if you feel the home was manufactured before June 1976.

How many numbers are in a VIN for a mobile home? ›

Identification number- This set of 6 numbers that represent the home's serial number. Section code- This letter informs you if the mobile home has more than one section. Single-wide houses with just one section do not have a section code. Sections are specified as A or B to represent double-wide and triple-wide homes.

Can you replace walls in manufactured home with drywall? ›

Related Articles. Single-wide mobile homes are designed to be light, but the walls of most of them still contain wooden studs. Manufacturers often cover the walls with 1/4-inch paneling, but the studs can support drywall, so there's nothing preventing you from removing the paneling and replacing it.

Can you hang a TV in a mobile home? ›

Mounting a TV in a mobile home requires knowledge of the home's wall material, and the width and type of studs within the walls. Most wall materials alone will not support a TV's weight. Drilling in the center of studs and using the mount manufacturer's recommended hardware should offer the best hold.

What is the plastic under a mobile home called? ›

This is commonly called “belly-wrap”, “belly board” or “bottom board”. The manufactured home industry and well as HUD refer to it as “bottom board”.

What is the Blue Book on a mobile home? ›

The mobile home's equivalent of the Kelley Blue Book is the NADA manufactured housing appraisal guide. It's created by the National Appraisal Guide, Inc., a subsidiary of J.D. Power and compiles its information from the wealth of research done by the National Automobile Dealers Association (NADA).

How much does a mobile home depreciate in value? ›

In general, mobile homes depreciate at about 3-3.5% a year. Working out how much your manufactured house has depreciated can help you to fairly accurately determine the current value of your home. For example, a home that originally cost $50,000 will be worth $ 41,000 after six years.

Do mobile homes always lose value? ›

A disadvantage of buying a mobile home is that its value will depreciate quickly. Like a new car, once a mobile home leaves the factory, it quickly drops in value. Stick-built homes, on the other hand, normally appreciate in value over time because the stick-built home owner almost always owns the underlying land.

Do mobile homes retain their value? ›

Myth: Manufactured homes do not appreciate in value like other forms of housing. Instead, manufactured homes depreciate in market value, similar to the way automobiles lose value each day.

What is the oldest mobile home a bank will finance? ›

If your manufactured house is classified as real property, you may be able to finance it with a mortgage. Typically, a mobile home has to be built after 1976 to qualify for a mortgage, as we'll explain below. In this case your loan would work almost exactly the same as financing for traditional “stick-built” houses.

What is the black material under a mobile home? ›

The black material enclosing the base of a mobile home is known by several names: bottom board, belly board or paper, black board, etc. Typically, the material used is asphalt-impregnated fiberboard or fiberglass, cloth or heavy tar paper, and woven polyethylene.

Do double wides lose value? ›

Myth: Manufactured homes do not appreciate in value like other forms of housing. Instead, manufactured homes depreciate in market value, similar to the way automobiles lose value each day.

How well do manufactured homes hold their value? ›

New data suggest that manufactured homes appreciate in value almost as quickly as traditional homes. Many have long held the assumption that mobile homes don't increase in value — or, at the very least, they rise in value at a much slower rate than traditional homes.

Is a mobile home and a manufactured home the same thing? ›

The Difference Between Mobile and Manufactured Homes

The only difference between the two types of homes is the date they were built. According to HUD, a factory-built home prior to June 15, 1976 is a mobile home and one built after June 15, 1976 is a manufactured home.

Can you claim depreciation on a mobile home? ›

Review the year that you purchased the mobile home. Mobile homes purchased after January 1, 2000, can use the standard depreciation method to determine your tax rate.

Why are manufactured homes valued less? ›

Because it is generally considered a vehicle, a manufactured home often does not appreciate in value, like real estate will.

Are mobile homes a good investment in 2021? ›

The answer is a resounding yes, and in many ways, a manufactured home is actually a safer investment than a site-built or traditional home.

Is a manufactured home a good investment? ›

So are manufactured homes a good investment? Manufactured homes are a great investment for those looking for a starter home or retirement home. They are affordable and offer all the same amenities as conventional homes. While secure financing is the main con, the many advantages make manufactured homes worth it.

Do manufactured homes ever go up in value? ›

The median value of mobile homes rose most significantly over the five years in Nevada, Oregon and California. In these states, median mobile home values increased by an average of 96% from 2014 to 2019.

Do manufactured homes build equity? ›

When securing financing for a manufactured house, borrowers are often met with significantly higher interest rates than those shopping for a traditional property. Because of this, manufactured homes often build equity at a slower pace as more of each monthly payment is dedicated to paying off the accumulating interest.

What is the most affordable manufactured home? ›

Comparing two of the MOST Affordable Manufactured Homes ...

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