How Much Is A Mobile Home And Should I Buy One Today?

If you’re like many Americans who are having problems buying a house, you’ve probably wondered how much a mobile home costs. The answer to that question will depend on factors like size, amenities, and materials. 

How Much Is A Mobile Home

The number of mobile homes nationwide is decreasing. The downtrend is expected to continue in the coming years. But don’t worry, we can help you navigate this terrain and answer your questions so you’ll be prepared should you decide to buy a mobile home.

Before you do anything, check out the following facts we’ve gathered, which include the cost of a mobile home and other expenses.  

How Much Is A Mobile Home?

types of mobile home

The cost of mobile homes has risen in the past two years. According to the latest data from the US Census Bureau, the average cost of a new mobile home is $125,200.

Here are the breakdowns:

  • Single-Wide Average: $88,000
  • Double-Wide Average: $155,200

 If you shop for repos or older models, you can find cheaper deals. 

Land Expense

Another important factor is land. You’ll need a place to park your mobile home. If you’re planning to buy land or you already own it, factor in the cost plus property taxes. The total should also include preparing the site to host the home, like grade work and a septic system.

Community Rent Rates

If you don’t own land and you don’t have any intention of buying it, you can rent space in a mobile home park or manufactured home community. The cost will depend on the location and amenities offered. 

Mobile Home Financing

How To Buy A Mobile Home

According to the Housing Urban and Development (HUD), the most common method of financing a manufactured home is through a retail installment contract, available through your retailer.

Long-term lending is available for mobile homes on approved foundations. Manufactured homes are also eligible for government-insured loans offered by the Federal Housing Administration (FHA), the Veterans Administration (VA), and the Rural Housing Services (RHS) under the US Department of Agriculture.


FHA Loans

There are two types of FHA loans for mobile homes: Title I and Title II. To obtain a Title II FHA loan, the home must be permanently affixed to the land. Contact a banking loan officer to discuss your options for these loan products.


USDA Loans

If your mobile home will have a permanent foundation and you’re financing both the home and the land it will sit on, you may qualify for the Rural Housing Services (RHS) loan under the U.S. Department of Agriculture, also referred to as the USDA loan. There are some other pretty strict regulations for eligibility. Read the fine print before sending in your application.


VA Loans

Are you a current or former member of the US Armed Forces? If so, you should qualify for a VA loan for your mobile home. The loan operates the same as an FHA loan. With a VA loan, you can finance up to 95 percent of the sticker price of your mobile home and the land under it.


Chattel Loans

Chattel loans are the most popular financing option for mobile homes because they’re easy to get. However, you can expect to pay higher interest rates. Usually, people with bad credit will need to apply for a chattel loan.  


Types Of Mobile Homes

Types Of Mobile Homes

Knowing the cost of different types of mobile homes isn’t very helpful if you don’t know the size of each type. After all, most people don’t know the difference between a single-wide and a double-wide by looking.

So check out this briefing on the three types of mobile homes so you can find out which one is right for your family. 

Single-Wide Mobile Home

The average range for a single-wide is 600 to 1,300 square feet. There are rarely more than two bedrooms and often only one bathroom. They are 18 feet or less in width, and 90 feet or less in length.

Single-wide mobile homes are half the size of a standard home in the US and, rather than sitting on a foundation, feature mobile home skirting at the bottom. If you live alone or only with one other person, then a single-wide is all you will need. 

Double-Wide Mobile Home

The average size for a double wide is 2,000 to 2,500 square feet. They are at least 20 feet wide yet 90 feet or less in length. Most of them have at least two bedrooms and two bathrooms. They also have entryways and dining rooms. 

Double-wide homes are the same size as standard homes in the United States

Triple-Wide Mobile Home

The average size of a triple-wide is between 3,000 and 4,500 square feet. They are usually shorter than double-wides as they appear more square than oblong. They often look very similar to a property-built home.

Triple-wides are larger than most other homes in the United States. 

Frequently Asked Questions (FAQ)FAQ

Why Are Mobile Homes Going Up In Price? 

There are a couple of reasons the prices of mobile homes are going up. The main reason is that the prices of almost everything have been going up these past few years, not to mention, the housing market is booming.

This can affect the prices of mobile homes in more than one way. Because even if the prices do go up, they are still cheaper than almost any other type of home, so it’s affordable to those who can’t afford another type of home.

Are Mobile Homes A Good Investment?

They can be. If you find some mobile homes for a really good deal, you can actually fix them up, or flip them, and resell them. This can be risky as they aren’t always on the rise, so you have to wait for the right moment.

Stick to buying homes in good condition and remodeling them with nice-looking decor, flooring, and wall coverings. It’s important to start with a good base so that you know you are buying a safe home. 

Is It Cheaper To Build Or Buy A Mobile Home?

It isn’t possible to build a mobile home as mobile homes are buildings that were built in the 1970s and before. So it is always cheaper to buy a mobile home. If you want to build, there are other options.

Modular homes can be built and customized. Barndominiums can also come in kits or be built from scratch. They are a fun, open-concept building that can be an alternative to standard homes built on-site. 

Why You Should Never Buy A Mobile Home?

There are plenty of reasons to buy a mobile home, but in general, it is best to steer clear if you have another option. Living in one temporarily because it is available to you is fine, but be on the lookout for something new. 

Because mobile homes are almost never up to code. They are usually not nearly as safe as any other type of home. So they work for short-term and maybe for guest houses, but not for permanent living. 

What Is The Downside Of Buying A Mobile Home?

A disadvantage of buying a mobile home is that its value begins to depreciate after you buy it. Like a new car, once a mobile home leaves the factory, its value decreases. Stick-built homes, on the other hand, appreciate in value because the homeowner usually owns the underlying land.

What Is The Life Expectancy Of A Mobile Home?

While the average life expectancy of a mobile home is 30 to 55 years, they can last longer if cared for properly. When you first buy a mobile home, the most important thing is to ensure the installation is handled correctly. This involves choosing the right location and adhering to proper maintenance practices.

Can You Move A Mobile Home For Free?

You can’t move a mobile home entirely for free, but there are a few ways you can reduce costs. One thing you can do for free is search for lots and communities that offer free lodging for mobile homes. Next, find a moving company. This will not be free, but it’s a bullet you can’t dodge as it’s an integral part of the moving process. And finally, you’ll need to research which permits are required to move.  

What Is The Difference Between A Manufactured And Mobile Home?

You can tell the difference between the homes by determining when they were built. If the structure was built after 1976 and meets the federal rules for quality, durability, safety, and affordability, then it would be a manufactured home. If it was built before ‘76, it’s a mobile home.

How Long Does It Take To Build A Mobile Home?

One of the biggest advantages of buying a manufactured home is its short building and delivery process. Manufacturers can build a prefabricated home in less than a week. New homeowners can start living in their delivered home just four months after they order it.