2008 National Manufactured Home Community Rent Survey Summary
Article
JLT & ASSOCIATES
A Real Estate Market Research Company
FOR IMMEDIATE PRESS RELEASE
From: John M. Turzer, President
Subj: National Manufactured Home Community Rent Survey Summaries
Date: October 1, 2008
Attention Clients and Real Estate Professionals!!
The following is a summary of our 2008 and 2007 Manufactured Home Community rent surveys.
Occupancy numbers DO NOT INCLUDE repossessed homes as reported by the on-site personnel. Please feel free to share this information with your staff and associates. As always, just call us at 808-283-3380 with any questions.
Surveys can be ordered by calling 808-283-3380, sending a email to JohnTurzer@aol.com or visiting our website www.JLT-Associates.com where you can download reports using your VISA or Mastercard!
JLT & Associates….#1 in Market Research
for the manufactured housing industry!
NATIONWIDE SUMMARY
Our surveys cover the sixty-six major markets in the United States and include 676 “55+” communities with 190,732 homesites. The national occupancy rate increased by .2% (357 homesites) from the prior year to the current year. For surveys updated through September 2008, the national occupancy rate is 93%. 74% of the “55+” communities surveys are located in Florida.
Our surveys include 1,250 “all ages” communities with 359,427 homesites. The national occupancy decreased 1.3% (4,058 homesites) from the prior year to the current year. For surveys updated through September 2008, the national occupancy rate is 83%. 53% of the “all ages” communities surveyed are located in Michigan, Florida and Texas.
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Average adjusted rents (rents after deducting services) in the “55+” communities increased 5.2% from $359 to $378 per month. Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent.
Average adjusted rents (rents after deducting services) in the “all ages” communities increased 2.9% from $333 to $343 per month. Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent.
Repossessed Homes – The number of repossessed homes located in “All Ages” communities has decreased steadily from 2004. Approximately .7% of total “All Ages” homesites are occupied with repossessed homes down from 1.2% in 2004. Repossessed homes are not significant in “55+” communities.
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John Turzer is the President of JLT & Associates, a full service real estate market research company specializing in the manufactured housing industry. The company conducts pre-acquisition and new community development market research, due diligence, a one-day sales training program and client specific consulting projects. JLT & Associates also prepares and markets manufactured home community rent surveys for 66 markets nationwide including Albuquerque, Atlanta, Las Vegas, Greater Phoenix, Tucson, Salt Lake City, Kansas City, Minneapolis/St. Paul, Raleigh, Charlotte and major markets in Florida, Texas, Michigan, New York, Colorado, Indiana and Ohio. He can be reach at (808) 283-3380, (808) 442-9950 (fax) or by email at JohnTurzer@aol.com. Website: www.JLT-Associates.com.