Monday, December 6, 2021 / by Ken Couture
As mobile homes that attract the attention of buyers face tight inventories and soaring prices, their demand is growing rapidly and their prices are following suit.
Over a five-year period, the median value of mobile homes grew faster in 27 states than the median value of single-family homes, according to a new study from LendingTree.
The national median value of a mobile home is $53,300. While that's still nearly $190,000 less than the median value of a single-family home, according to LendingTree, the value of mobile homes is growing rapidly.
The average mobile home value increased by nearly 40% from 2014 to 2019. According to LendingTree, that's 6 percentage points higher than the 33% increase in an average value for single-family homes over the same period.
Mobile homes are the most expensive in Washington, Oregon, and California. The researchers note that Washington is the only state where the median value of a mobile home is greater than $100,000. Oregon and California follow with median values ??of $93,500 and $91,400, respectively.
Meanwhile, mobile homes are the least expensive in Nebraska, Iowa, and Ohio. All three states have a median value of less than $25,000.
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