Treat the home, the land, tenure, financing and setup as separate questions. Tenure matters most: owned land with a mortgage has tracked site-built values; leased land with a chattel loan usually costs more[S3][S4].
Published October 2026. Sources checked October 6, 2026.
| Figure | What it is | Source |
|---|---|---|
| $85,600 | average new single-section home, 2025, before land | [S1][S2] |
| $157,100 | average new double-section home, 2025, before land | [S1] |
| $414 | national median lot rent a month, 2021 | [S2] |
| 8.6% | median chattel loan rate, 2019; 4.9% for manufactured-home mortgages, 4.1% site-built | [S4] |
| 52% | of owners who rent their land say they have no lease | [S11] |
| 27% | of 2019 manufactured-home loan applications became loans, against 74% for site-built homes | [S4] |
| $14,100 | single-section setup: a 2020 survey’s line items, summed (our arithmetic) | [S7] |
| 845 | counties where manufactured housing is largely unavailable, Pew reports | [S8] |
Is this path for you?
It fits best when you can finance home and land together as real property[S4].
It can fit if
- You own or can buy a lot zoned for one.
- Or a community’s lease and rent rules suit you.
The five questions, plus resale
A sales lot quotes one price; split it into five parts, then ask what you could sell it for.
1. The home
| What to know | Figure | Source |
|---|---|---|
| Land | Excluded from Census cost figures, the Philadelphia Fed says | [S2] |
| State spread, single-section | $70,900 (Wyoming) to $112,900 (New Hampshire): $42,000 across 45 states | [S1] |
| Size | A double-section cost $71,500 more, about 1.8 times as much | [S1] |
| Compare by size | California’s total average was highest, $164,800, but its single-section $80,500 was below the US | [S1] |
| April 2026 | $134,800 overall, $84,600 single, $164,000 double (FRED, September 8, 2026); prices lag shipments by four months | [S5][S6] |
Single-section prices, 2025: the 5 lowest and 5 highest states
Cost per square foot, 2022, excluding land
Show the full state table
| Area | All homes | Single-section | Double-section |
|---|---|---|---|
| United States | $127,200 | $85,600 | $157,100 |
| Alabama | $115,900 | $83,800 | $157,900 |
| Alaska | $118,900 | D | $145,800 |
| Arizona | $142,600 | $98,500 | $160,500 |
| Arkansas | $115,200 | $84,700 | $146,500 |
| California | $164,800 | $80,500 | $185,000 |
| Colorado | $127,100 | $90,900 | $166,900 |
| Connecticut | $110,400 | $95,600 | $160,600 |
| Delaware | $132,000 | $84,900 | $149,200 |
| Florida | $133,500 | $90,100 | $155,600 |
| Georgia | $131,300 | $82,800 | $155,400 |
| Idaho | $125,300 | $94,000 | $160,200 |
| Illinois | $124,600 | $85,800 | $171,800 |
| Indiana | $110,400 | $80,400 | $157,600 |
| Iowa | $100,600 | $91,800 | $157,200 |
| Kansas | $93,000 | $77,100 | $154,200 |
| Kentucky | $125,200 | $81,500 | $152,500 |
| Louisiana | $109,100 | $84,300 | $154,900 |
| Maine | $140,200 | $92,000 | $174,900 |
| Massachusetts | $133,700 | D | $161,300 |
| Michigan | $107,800 | $81,200 | $145,900 |
| Minnesota | $123,400 | $93,700 | $165,800 |
| Mississippi | $130,300 | $82,200 | $154,400 |
| Missouri | $122,900 | $87,600 | $153,400 |
| Montana | $133,200 | $91,700 | $194,800 |
| Nebraska | $111,500 | $89,800 | $150,900 |
| Nevada | $150,500 | $104,500 | $164,900 |
| New Hampshire | $154,500 | $112,900 | $187,700 |
| New Jersey | $147,200 | $104,100 | $181,800 |
| New Mexico | $134,300 | $86,100 | $155,000 |
| New York | $117,600 | $82,400 | $145,600 |
| North Carolina | $127,300 | $78,700 | $155,800 |
| North Dakota | $127,900 | $102,000 | $174,100 |
| Ohio | $107,800 | $84,000 | $145,600 |
| Oklahoma | $130,500 | $86,000 | $164,900 |
| Oregon | $132,100 | $75,700 | $148,600 |
| Pennsylvania | $116,900 | $87,900 | $148,300 |
| South Carolina | $141,000 | $91,100 | $162,300 |
| South Dakota | $141,600 | $101,200 | $177,700 |
| Tennessee | $138,200 | $78,700 | $154,900 |
| Texas | $124,500 | $87,300 | $151,500 |
| Utah | $128,100 | $92,800 | $162,800 |
| Vermont | $123,200 | $88,100 | $154,000 |
| Virginia | $143,700 | $79,800 | $168,900 |
| Washington | $161,600 | $109,600 | $165,100 |
| West Virginia | $128,000 | $81,500 | $159,400 |
| Wisconsin | $115,300 | $91,300 | $145,800 |
| Wyoming | $94,400 | $70,900 | $173,300 |
2. The land
- No national lot price: price land, well, septic, utility extensions, driveways and permits locally; setup estimates leave them out[S7].
- Zoning: largely unavailable in 845 counties, Pew reports[S8].
3. Tenure: own land, land lease or resident-owned community
In a resident-owned community (ROC) a cooperative of the residents owns the land[S9].
| Lot rent and limits | Figure | Source |
|---|---|---|
| National median, 2021 American Housing Survey (Philadelphia Fed, June 2023) | $414 a month | [S2] |
| California, Florida, Texas | $700, $600, $315 | [S2] |
| Florida, 2015 to 2023 | Nearly doubled, Jax Today reports | [S10] |
| New York increases | Generally 3%; above 6% only with court approval | [S12] |
| Oregon 2027 cap, parks over 30 spaces | 6% | [S13] |
- Protections vary: only some states require renewable leases, good cause for eviction or notice of changes[S11].
- A ROC is still leased land, but residents are the landlord, which addresses the risk of a sale to an outside investor[S9].
4. Financing: chattel loan or real-property mortgage
A chattel loan covers the home alone, as personal property; a mortgage covers home and land.
| Loan | Key terms | Source |
|---|---|---|
| Chattel loan | 8.6% median rate in 2019; about 42% of manufactured-home loans | [S4] |
| Manufactured-home mortgage | 4.9% median in 2019 (site-built 4.1%) | [S4] |
| Reference rate today | No chattel series; Freddie Mac’s 30-year average was 7.28%, week of October 1, 2026 | [S14] |
| FHA Title I, in effect | Since March 29, 2024: $105,532 single, $193,719 multi-section, $43,377 lot, $148,909 or $237,096 home plus lot | [S15] |
| FHA Title I, Section 303 | Slightly higher in law: $106,405 and $195,322; $149,782 and $238,699 with a lot. No HUD notice yet | [S16][S15] |
| FHA Title II | Home and site, taxed as real estate, up to 30 years; 400 square feet, a HUD label, a permanent foundation | [S17] |
| Fannie Mae MH Advantage | Up to 97% loan-to-value (3% down) on a principal residence; 95% standard | [S18] |
| Fannie Mae, all | Home and land must be real property; leased land generally ineligible | [S19] |
| Freddie Mac CHOICEHome | 95%, or 97% with an affordable second mortgage; appraised against site-built homes | [S20] |
5. Setup
No agency publishes a national setup cost; the best figures are a 2020 survey of 22 producers, retailers and lenders[S7]. Treat them as weak.
| Line item (2020 survey) | Single-section | Double-section |
|---|---|---|
| Delivery | $1,500 | $3,000 |
| Setup | $2,500 | $3,500 |
| Skirting | $1,500 | $2,500 |
| Site add-ons | $4,500 | $7,500 |
| Clean house | $100 | $200 |
| Site prep and footings | $4,000 | $8,000 |
| Sum (our arithmetic) | $14,100 | $24,700 |
Plus resale: value over time
On owned land
On leased land or a chattel loan
- Old, regional data only: park homes lost about 3.5% to 4.6% a year (Consumers Union, 2003)[S22].
“Though prices for manufactured homes that include land have appreciated, the value of manufactured housing on land the borrower does not own has likely not performed nearly as well.” Urban Institute[S21]
The complete cost, side by side
Owned land means more cash up front and control of the land; a land lease adds lot rent and depends on the lease.
| Item | Own land, mortgage | Land lease, chattel loan | Resident-owned community |
|---|---|---|---|
| Upfront cash | Down payment on home, setup, land; closing | Down payment on home and setup | As a lease, plus co-op terms |
| Monthly cost | Mortgage, property tax, insurance | Loan, lot rent, insurance, any personal-property tax | Loan, site fee, insurance |
| Security of tenure | You control the land | Lease and state law; many have no lease[S11] | Residents control the land[S9] |
| Verify locally | Zoning, utilities, titling | Lease, rent history, state rules | Co-op rules, fees, finances |
| Exit | Sells as real estate[S3] | Sell in place or move it; old data show depreciation[S22] | Still leased land; no national data |
What the 2026 law changes
The ROAD to Housing Act (Public Law 119-101) became law on July 11, 2026, but nothing changes yet for a buyer’s loan.
| Change | What it means now | Source |
|---|---|---|
| Section 301 | A manufactured home is now “built with or without a permanent chassis” | [S23] |
| State certification | Due July 11, 2027, or 2028 where legislatures meet every two years | [S24] |
| Lenders | Fannie Mae still requires a permanent chassis | [S25] |
| Not addressed | Lot rent, zoning and chattel pricing | [S23] |
| Investor ban | From January 7, 2027, it excludes manufactured homes | [S26] |
Traps to check before you sign
Check these five before you sign.
- No written lease. 52% of land renters have none[S11].
- Two risks at once. Chattel on rented land: repossession plus rent hikes or eviction[S4].
- Community sales. Land can be sold and rents raised within state limits[S11].
- Older or moved homes. Fannie Mae requires the June 15, 1976 HUD code[S25]; FHA Title II and USDA exclude homes previously installed elsewhere[S17][S27].
- Chattel on owned land. 17% of land-owning borrowers took chattel loans[S4]. Ask for a mortgage.
Check it where you live
Before you sign, get these answers in writing where you can.
| What to check | Who to ask |
|---|---|
| Allowed on the lot, and on what foundation? | The zoning office |
| How does a home become real property? | The county recorder or titling agency |
| Lease, five years of rent increases, what rent covers | The community manager |
| Rent limits and rules when a community is sold | The state housing agency |
| Mortgage quotes (Title II, MH Advantage, CHOICEHome) and any chattel quote | Two or more lenders |
| A written insurance quote; no regulator publishes an average[S28] | An insurance agent |
| Delivery, setup, skirting, foundation, in writing | An installer |
Modeled example: one single-section home, three ways
Owning the land costs about $534 a month less here, despite $38,000 more financed, because of the lower rate and no lot rent.
| Input | Value | Basis |
|---|---|---|
| Home | $85,600 | US 2025 single-section average[S1] |
| Setup | $14,100 | JCHS line items; weak[S7] |
| Land | $40,000 | Illustrative; enter your own |
| Down payment | 5% in both cases | Assumption, for an even comparison; Fannie’s 95% maximum for A[S18]; our calculator assumes 10% for chattel B |
| Mortgage, case A | 7.28%, 30 years | Freddie Mac rate[S14]; term assumed |
| Chattel loan, case B | 11.78%, 20 years | Estimate: 7.28% plus the 4.5-point 2019 gap between chattel (8.6%) and site-built (4.1%) medians[S4]; term assumed |
| Lot rent, case B | $414 a month | 2021 median; old[S2] |
| Item | A. Own land, mortgage | B. Land lease, chattel |
|---|---|---|
| Home + setup + land | $139,700 | $99,700 |
| Down payment (5%) | $6,985 | $4,985 |
| Amount financed | $132,715 | $94,715 |
| Rate and term | 7.28%, 30 years | 11.78% (estimate), 20 years |
| Loan payment | $908.05 | $1,028.40 |
| Lot rent | None | $414.00 |
| Monthly total | $908.05 | $1,442.40 |
The arithmetic. Payment = P × r ÷ (1 − (1 + r)−n), with P the amount financed, r the monthly rate and n the months. A: r = 0.0728 ÷ 12 = 0.0060667, n = 360, so $132,715 × 0.0060667 ÷ (1 − 0.11334) = $908.05. B: r = 0.1178 ÷ 12 = 0.0098167, n = 240, so $94,715 × 0.0098167 ÷ (1 − 0.09589) = $1,028.40, plus $414 lot rent = $1,442.40.
- At the 2019 chattel median of 8.6%, B’s loan payment would be $827.96, or $1,241.96 with lot rent.
- Renting costs less per month only if your rent is below these totals after you add tax, insurance and utilities to them.
A documented case
We do not yet have a documented manufactured-home case.
My own path took about five years, from a van to a starter home bought with county assistance, then a duplex, with FHA loans on both[S29]. Bought or sold one? Write to hello@vantovault.com; we publish cases only with consent.
Run your own numbers in the housing path check, manufactured-home mode: own land, land lease or renting, with your lot price, lot rent and rates. Then read what the chassis rule changes and our ROAD to Housing Act guide.
Common questions
Does the Census price include land or setup?
Not land[S2]; budget setup separately. See the five questions.
Can I get a regular mortgage on a manufactured home?
Yes, if home and land are real property and the home meets program rules[S17][S18][S20]. See financing.
Did the ROAD Act turn chattel loans into mortgages?
No: state law still decides, in our reading, and HUD has not issued the Title I changes[S23][S16]. See the 2026 law.
The Vault
Get started with the newsletter!
Useful, relevant analysis, tools, tricks, and what you need to know on the journey to financial freedom. From the van years to a duplex, the plain math and none of the hype.
Subscribe and get the free $0-to-First-Property Roadmap to start.
No spam. Unsubscribe in one click.
Want the deeper toolkit? The guides and spreadsheets are in the shop, from $5, and the free tools stay free either way.
Sources
- Average Sales Price of New Manufactured Homes Sold or Intended for Sale by Size of Home by State: 2014-2025, U.S. Census Bureau, Manufactured Housing Survey, posted June 11, 2026 (accessed October 6, 2026). Supports 2025 national and state average prices by size, and the D and X notes.
- Manufactured Housing Communities, Federal Reserve Bank of Philadelphia, June 2023 (accessed October 6, 2026). Supports the 2021 American Housing Survey lot-rent medians and that Census cost figures exclude land.
- Manufactured Housing Medians Technical Note, Federal Housing Finance Agency, October 2024 (accessed October 6, 2026). Supports appreciation of homes with real-property mortgages bought by Fannie Mae and Freddie Mac, 1985 to 2024.
- Manufactured Housing Finance: New Insights from the HMDA Data, Consumer Financial Protection Bureau, May 2021 (accessed October 6, 2026). Supports 2019 median rates, chattel share, approval rates, land-owning chattel borrowers and the risks of leased land.
- Average Sales Price of New Manufactured Homes (series SPTNSAUS, SPSNSAUS, SPDNSAUS), Federal Reserve Bank of St. Louis, from U.S. Census Bureau data, updated September 8, 2026 (accessed October 6, 2026). Supports the April 2026 monthly averages.
- Manufactured Housing Survey: Methodology, U.S. Census Bureau, undated (accessed October 6, 2026). Supports that each price refers to a home shipped four months earlier.
- Comparison of the Costs of Manufactured and Site-Built Housing, Harvard Joint Center for Housing Studies (Herbert, Reed and Shen), July 2023 (accessed October 6, 2026). Supports setup line items (Appendix Table 1, national average) from a 2020 industry survey.
- Additional Manufactured Housing Could Benefit Millions of U.S. Homebuyers, The Pew Charitable Trusts, November 20, 2024 (accessed October 6, 2026). Supports that manufactured housing is largely unavailable in 845 counties.
- ROC USA, ROC USA, undated (accessed October 6, 2026). Supports the definition of a resident-owned community.
- How Florida’s manufactured home parks are growing unaffordable, Jax Today, July 30, 2025 (accessed October 6, 2026). Supports its report that Florida’s median lot rent nearly doubled from 2015 to 2023.
- Millions of Homeowners Who Rent Land Are at Risk of Price Increases or Eviction, The Pew Charitable Trusts, June 4, 2025 (accessed October 6, 2026). Supports the 52% no-lease figure and the limited state protections for land renters.
- Rent Increases in Manufactured Home Parks, New York State Homes and Community Renewal, October 28, 2019 (accessed October 6, 2026). Supports New York’s 3% limit and the 6% court-approval threshold.
- Annual maximum rent increase for 2027, Oregon Department of Administrative Services, September 28, 2026 (accessed October 6, 2026). Supports the 6% cap for manufactured dwelling parks with more than 30 spaces.
- Primary Mortgage Market Survey, Freddie Mac, week of October 1, 2026 (accessed October 6, 2026). Supports the 7.28% 30-year average rate.
- FHA INFO 2024-08, U.S. Department of Housing and Urban Development, March 2024 (accessed October 6, 2026). Supports Title I limits for FHA case numbers assigned on or after March 29, 2024.
- 12 U.S.C. 1703, Office of the Law Revision Counsel, current through Public Law 119-101 (accessed October 6, 2026). Supports the Title I caps and the 30-year term ceiling added by Section 303 of the ROAD to Housing Act.
- 24 CFR 203.43f, Electronic Code of Federal Regulations, current as of October 2, 2026 (accessed October 6, 2026). Supports FHA Title II rules: 400 square feet, HUD label, permanent foundation, real-estate taxation, 30-year term, no previously moved homes.
- Manufactured Housing Product Matrix, Fannie Mae, notes updated March 21, 2026 (accessed October 6, 2026). Supports the 95% standard and 97% MH Advantage loan-to-value limits.
- Selling Guide B5-2-02, Manufactured Housing Loan Eligibility, Fannie Mae, December 10, 2025 (accessed October 6, 2026). Supports that home and land must be real property and that leased land is generally ineligible.
- CHOICEHome Mortgages, Freddie Mac, undated (accessed October 6, 2026). Supports CHOICEHome loan-to-value limits and site-built comparables.
- Manufactured Homes Increase in Value at the Same Pace as Site-Built Homes, Urban Institute (Goodman and Pang), November 19, 2024 (accessed October 6, 2026). Supports the 5% a year finding and the caveat on land the borrower does not own.
- Manufactured Housing Appreciation: Stereotypes and Data, Consumers Union (Kevin Jewell), April 2003, hosted by Polk County, Florida (accessed October 6, 2026). Supports old, regional estimates of depreciation for homes in parks.
- 42 U.S.C. 5402, Office of the Law Revision Counsel, current through Public Law 119-101 (accessed October 6, 2026). Supports the amended manufactured-home definition, with or without a permanent chassis.
- 42 U.S.C. 5403, Office of the Law Revision Counsel, current through Public Law 119-101 (accessed October 6, 2026). Supports the state certification deadlines for chassis-free homes.
- Selling Guide B2-3-02, Factory-Built Housing, Fannie Mae, February 4, 2026 (accessed October 6, 2026). Supports the permanent-chassis requirement and the June 15, 1976 HUD code requirement.
- 42 U.S.C. 19521, Office of the Law Revision Counsel, current through Public Law 119-101 (accessed October 6, 2026). Supports the investor purchase ban, its January 7, 2027 start and its exclusion of manufactured homes.
- 7 CFR 3555.208, Legal Information Institute, Cornell Law School, current text (accessed October 6, 2026). Supports USDA’s rule against homes previously installed on a different homesite.
- Homeowners Report, National Association of Insurance Commissioners, 2023 edition (accessed October 6, 2026). Supports that its averages do not cover mobile-home policy forms.
- About, VanToVault, undated (accessed October 6, 2026). Supports the founder’s own path: about five years from a van to a starter home bought with county assistance, then a duplex bought with an FHA loan.