Manufactured Housing Community Fundamentals Remain Steady Mid-Year
According to the Urban Institute, owners and renters of manufactured homes are more likely than residents of other housing types to work in the five industries most vulnerable to job loss during the pandemic, with 35% of owners and 43% of renters working in the food and accommodation, retail, construction, entertainment, and other services sectors. While these sectors have been adding jobs, they are not yet at pre-pandemic levels, and an ongoing threat remains from the resurgence of COVID-19 due to the Delta variant. This may have had a negative impact on manufactured housing communities (MHC) and investor interest in the segment. However, to date, MHC fundamentals remain steady, despite volatility in the job market. We believe this bodes well for continued investor interest in the MHC sector.