Mobile Home / Manufactured Housing Parks
With ever-present concerns about the high cost of housing, one solution to affordability has been the traditional mobile home park, marketed today as manufactured housing subdivisions. The Siracusa Company has worked with mobile home park owners, mobile home park land developers and others to evaluate the marketability of proposed manufactured housing subdivisions. Our services have included defining market demand, evaluating competitive parks from the standpoint of rental rates, space allocation, location, amenities, management policies, occupancies, and other issues. Our market studies provide recommendations regarding lot size allocations, space rental rates, amenities, housing products, and projection of absorption.
Our market studies for manufactured housing parks include the following tasks:
- Evaluation of the subject site from the standpoint of location, general environment, access, visibility, transportation, neighborhood trends, and other factors.
- A comprehensive field survey of existing manufactured housing parks in order to profile space sizes, rental rates, vacancies, tenant composition, amenities, and absorption rates for new projects.
- Segmentation of the competitive supply into its key components, such as family versus age restricted parks, space size and mix, rental rate distribution, and types of amenities to reveal un-served niches in the marketplace.
- Design review of proposed floor plans (as applicable).
- An investigation of projects in the entitlement process that might represent future competition.
From this research our recommendations include:
- Unit bedroom/bath mix and sizes
- Unit features and amenities
- Rental rates
- Unit design elements
- Recreational amenities
- Parking
- Projected absorption rate