United States Manufactured Homes Market Size
|CAGR:||> 5 %|
*Disclaimer: Major Players sorted in no particular order
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United States Manufactured Homes Market Analysis
The United States manufacturing housing market is expected to grow at a CAGR of more than 5% during the forecast period. The need for high-quality, reasonably priced homes has never been higher. Modern prefabricated homes are up to 50% less expensive per square foot than traditional site-built homes while yet providing exceptional quality and performance. Even in the face of a disparity in housing affordability that is always expanding, these savings enable more and more Americans to purchase their own house.
- The factory-building process's effectiveness makes prefabricated houses so reasonably priced. Manufactured homes are made nearly entirely off-site in a factory using standard building components.
- The controlled construction environment and assembly line processes eliminate many of the issues that arise during conventional home construction, such as weather, theft, vandalism, damage to building materials and supplies, and inexperienced workers. Compared to the system of outsourced labor used by the site-built house construction industry, factory workers are educated and controlled more successfully and efficiently.
- Similar to other assembly line processes, prefabricated houses profit from economies of scale brought about by buying huge numbers of components, goods, and appliances. When purchasing a manufactured home, the customer benefits directly from the manufacturer's ability to negotiate significant discounts on various building materials.
United States Manufactured Homes Industry Segmentation
The report provides a thorough background analysis of the US manufactured home market, including an evaluation of the economy and the contribution of various economic sectors, a market overview, market size estimates for important market segments, emerging market segment trends, market dynamics, geographical trends, and the COVID-19 impact. The report provides a thorough background analysis of the US manufactured home market, including an evaluation of the economy and the contribution of various economic sectors, a market overview, market size estimates for important market segments, emerging market segment trends, market dynamics, geographical trends, and the COVID-19 impact.
The United States Manufactured Homes Market is segmented By Type (Single Family and Multi-Family). The report offers size and forecasts for the United States Manufactured Homes Market in value (USD billion) for all the above segments.
United States Manufactured Homes Market Trends
This section covers the major market trends shaping the United States Manufactured Homes Market according to our research experts:
States in the US Spending the Most on Manufactured Housing
The housing affordability issue in the United States is more pronounced than ever after two years of skyrocketing real estate prices, mortgage rates, and rents. Households in the United States have been looking for solutions to the strain caused by rising housing expenses. One option is to build more prefabricated houses. Housing units constructed at a factory and then delivered to their final location fall under manufactured housing. These units are sometimes far less expensive than site-built dwellings since they typically feature straightforward designs and cost-effective materials. According to 2021 research from the Manufactured Housing Institute, a manufactured home typically costs USD 57 per square foot, significantly cheaper than the USD 119 cost of a site-built home.
This less expensive choice holds a lot of appeal for families with lower and moderate incomes. Presently, 22 million Americans reside in prefabricated houses, and each year, around 1 in 10 new homes built in the country are manufactured homes. The quality of manufactured houses has improved with better materials, higher energy efficiency, and superior designs.
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Prices have Increased due to the Increased Demand for Manufactured Homes
The rising demand for manufactured houses and housing, in general, has increased prices recently, although manufactured homes are inexpensive. A prefabricated house's average sale price has increased by 79.4% since 2014, roughly matching the 77.5% growth in home values for all properties in the Zillow Home Value Index during the same period. In the past two years alone, prices for prefabricated houses have increased sharply due to the hot real estate market and manufacturing supply chain issues.
The popularity of prefabricated houses varies across the United States, but the South stands out for having a larger proportion of them. Fast-growing, densely populated southern states like Texas, Florida, and North Carolina take the top spot for annual exports of prefabricated homes. However, lower-income states like Mississippi, West Virginia, and Kentucky, whose citizens may be more tempted to prefabricated houses as a cheap choice, are among the top places for new single-family homes.
United States Manufactured Homes Industry Overview
The environment of the manufactured housing sector is fragmented, with a mix of international, regional, and local businesses. Local players in the area are well recognized for their quick delivery of manufactured homes. Skyline Champion Corporation, Morton Buildings Inc., The High Construction Company, American Buildings Company, Z Modular, Affinity Building Systems, Varco Pruden, and Westchester Modular Homes Inc. are among the nation's top competitors.
United States Manufactured Homes Market Leaders
Skyline Champion Corporation
Morton Buildings, Inc.
The High Construction Company
Affinity Building Systems
*Disclaimer: Major Players sorted in no particular order
United States Manufactured Homes Market News
- July 2022: The Factory Expo Home Centers are situated at 12 Skyline Champion manufacturing plants around the United States. Champion Retail Housing, a subsidiary of Skyline Champion Corporation, agreed with Alta Cima Corporation to purchase the assets and take over the management of the Factory Expo Home Centers.
- May 2022: Champion Home Builders purchased nearly all of the operating assets of Manis Custom Builders Inc. and related companies (collectively, "Manis"), located in Laurinburg, NC, for about USD 10 million. This acquisition led to the addition of a 250,000 square foot campus in Laurinburg and Manis' retail location to its existing North Carolina campuses.
United States Manufactured Homes Market Report - Table of Contents
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Supply Chain / Value Chain Analysis
4.3 Technological Innovations in the Manufactured Homes Market
4.4 Government Regulations and Initiatives in the Industry
4.5 Insights into Manufactured House Costs
4.6 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.4 Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers / Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Single Family
6.1.2 Multi Family
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 Skyline Champion Corporation
7.2.2 Morton Buildings Inc.
7.2.3 The High Construction Company
7.2.4 Z Modular
7.2.5 Affinity Building Systems
7.2.6 Varco Pruden
7.2.7 Westchester Modular Homes Inc.
7.2.8 SG Modular
7.2.9 Plant Prefab
7.2.10 Homette Corporation *
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
United States Manufactured Homes Market Research FAQs
What is the study period of this market?
The United States Manufactured Homes Market is studied from 2019 - 2028.
What is the growth rate of United States Manufactured Homes Market?
The United States Manufactured Homes Market is growing at a CAGR of >5% over the next 5 years.
Who are the key players in United States Manufactured Homes Market?
Skyline Champion Corporation, Morton Buildings, Inc., The High Construction Company, Z Modular, Affinity Building Systems are the major companies operating in United States Manufactured Homes Market.
United States Manufactured Homes Industry Report
Statistics for the 2023 United States Manufactured Homes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Manufactured Homes analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.