Mobile homes appeal to young and middle-class buyers as home prices surge: Massachusetts Homebuyers Homeowners

With home prices continuing to reach new heights  across the country, many potential homebuyers are seeing the mobile-home market in a brand new light as single-family home prices become less affordable for young and middle-class buyers.
According to LendingTree’s recent U.S. Census Bureau data analysis, mobile homes are generally far less expensive than single-family homes. In addition, the median value of mobile homes escalated faster in 27 states than that of single-family homes over the same five-year period.

Nationally, the median value of a mobile home is $53,000, nearly $190,000 less than the median value of a single-family home, according to the report.The most affordable mobile homes are in Nebraska, Iowa and Ohio, where the average price is less than $25,000. Washington, Oregon and California have the most expensive mobile homes. Washington is the only state where the median value of a mobile home is more than $100,000 ($125,400).

The difference in price between mobile and single-family homes is the largest in California, Massachusetts and Colorado. In these three states, median-priced mobile homes cost $477,100, $343,300 and $337,800 less, respectively, than median-priced single-family homes.

The post Mobile homes appeal to young and middle-class buyers as home prices surge appeared first on Boston Agent Magazine.

Changes in Massachusetts Real Estate Law & How they Effect the Consumer:

Selecting the Right Homebuyer's agent

Unlike most other real estate agents, a MABA home buyer's broker never represents both a buyer and seller in the same transaction so you never have to worry whether a MABA agent is really looking out for your best financial interests. A MABA buyer's agent acts as your advocate, real estate educator, advisor and negotiator, always loyal to you and dedicated to helping you find and buy the best home with the best terms at the price and showing you which homes to avoid along the way.

Fewer than one percent of the agents and brokers in Massachusetts meet our high standards. 

Whether you are ready to buy now or just beginning your home buying journey, click here to choose a Great Buyer's Agent to answer all of your home buying questions!