Rent in the U.S. is up over 20%, according to rent.com. Mobile or manufactured homes have historically been one of America’s most affordable housing options, but now investors are buying mobile homes parks and jacking up the rent.
Mobile home parks provide affordable housing for millions of low-income residents – including seniors on fixed incomes – to own homes while renting the land underneath. But in an exploding housing market, that land is increasingly in demand for other projects, or park owners propose major rent hikes or changes in leases.