With the cost of housing continuing to rise faster than wages, it’s no surprise that many Americans across the country are struggling to make ends meet. Fortunately, solutions already exist to address the shortage of affordable housing, experts say.
For example, more than 22 million people in the U.S. now live in prefabricated housing – homes built to a federal standard in factories and installed on owners’ land or in rented lots in manufactured home communities, according to the Manufactured Housing Institute (MHI). In many parts of the country, such homes are the cheapest type of housing available without government subsidy. The average cost to buy a prefabricated home is about $70,600, compared to $286,000 for a site-built single-family home, not including land costs.
In response to the growing market demand, nearly 93,000 new prefabricated homes were built in the U.S. in 2017, an approximate increase of 15 percent from 2016, according to the MHI, but this is still far from enough to meet the national needs for affordable housing, experts say. Advocates argue that zoning restrictions and other rules and regulations in many areas are preventing prefabricated housing from closing this gap – as certain jurisdictions only allow prefabricated housing in locations far from urban centers and others have considered banning them altogether.
“Part of this bias may be based on the negative stereotype of previous generations of prefabricated housing; however, today, our homes are built with quality building materials to meet rigorous federal safety, installation, and construction standards,” says Richard Jennison, president and CEO of the MHI.
Additionally, today’s prefabricated housing includes features that homebuyers currently want, such as luxury bathrooms, vaulted ceilings, and state-of-the-art kitchens with energy-efficient appliances. Often located in communities with pools, playgrounds, and clubhouses, they can be a very attractive option for families and retirees seeking affordability.
To learn more, visit the website www.manufacturedhousing.org.
“At a time when there is a great need for high-quality affordable housing, today’s prefabricated homes are an effective solution for many American families and communities,” says Jennison.
Source: StatePoint