Rental crisis driving up cost on mobile homes
(CNN) - It’s no secret that inflation and skyrocketing home prices have pushed rents higher.
What’s not being told is the impact it’s having on what many see as the only affordable form of housing left, which are mobile homes.
Roughly 20 million Americans live in mobile homes, which makes up about 6% of all U.S. residences.
But high demand, low supply, and a jump in corporate ownership have increased the cost, leaving many low-income Americans with no alternatives.
On a percentage basis, mobile home costs have gone up even more than the broader housing market.
According to the Washington Post, average new home prices grew by 22% since the start of the pandemic.
Over that same period, mobile home prices have jumped almost 50%.
Washington Post also reports mobile home rent prices are doubling and even tripling in some areas.
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