How Much Is My Mobile Home Worth?

Prices for mobile homes have been rising, and if you’re thinking of selling, you may be wondering about current mobile home values. Just like traditional homes, age, condition, and value all play a role in trailer home value, but there are other factors you also need to consider. Whether you’re planning to list, you want to refinance, you need an updated mobile home value for insurance purposes, or you’re in the market to buy, here’s how to get a reliable estimate.

Mobile Homes vs Manufactured Homes vs Prefabricated Homes

It’s important to understand the difference between mobile homes, manufactured homes, and prefabricated homes before calculating your mobile home value¹. Here’s the difference:

• Mobile homes were built prior to June 15th, 1976, at which point the US Department of Housing and Urban Development (HUD) instituted new rules and guidance for the regulation of the industry.
• Manufactured homes were built after June 15th, 1976, to the federal HUD code.
• Modular homes are factory-built to local building codes (as opposed to HUD). These homes are set on permanent foundations and are generally appraised just like traditional, site-built homes.

The distinction between mobile homes, manufactured homes, and prefabricated homes affects more than mobile home values; it also impacts financing options, insurance, and appraisal methods.

Note that the terms “mobile home,” “manufactured home,” and “modular home” are often used interchangeably. The information on this page applies to both mobile homes and manufactured homes, but not to prefabricated homes.

National Average Mobile Home Values

If you don’t want to do a deep dive or get into the intricacies of using a mobile home value calculator, here’s a quick look at average mobile home values in America.¹

• New mobile homes sell for between $100,000 and $164,000, with an average price of $124,300.
• Used mobile home values range from $20,000 to $100,000+, depending on condition, with an average of $70,000.
• Single-wide mobile homes run from $10,000 to $50,000
• Double-wide mobile homes sell for between $50,000 and $100,000, with an average price of $75,000.
• Triple-wide Mobile home values go from $100,000 up, more if the land comes with it.

This is a very wide price range, so if you want a more precise estimate, you’ll need to gather your information and use a mobile home value calculator.

Key Factors in Mobile Home Values

What do you need to know about your mobile home to answer the question “What is the value of my mobile home”? Here are the factors that could affect its value:

Age and Condition

Newer and better-maintained units retain more of their as-new mobile home value. Homes built before 1976, in particular, could be valued lower because they weren’t consistently regulated. On June 15, 1976, the US Department of Housing and Urban Development (HUD) introduced nationwide standards to cover structural strength, fire safety, and other critical features. These improved standards mean that homes built after this date are valued higher.

The quality and condition of the roof, major systems, windows and chassis are very important. Interior finishes, energy-saving features, upgraded kitchens and bathrooms, and site improvements such as skirting, porches, decks, and paved driveways all add to mobile home values.

Location and Land Ownership

Just like traditional homes, mobile home values are higher in desirable communities with plenty of amenities. Owning both the land and the home rather than just the home also adds considerable value.

Size and Layout

Larger homes are valued higher. Modern, open layouts and extra bedrooms also add to mobile home value.

Market Demand

Stronger demand leads to higher prices. Some of the same factors that drive demand for traditional homes, such as interest rates and population growth, also create demand for mobile homes and send mobile home values higher. However, there are also specific factors that increased demand for mobile homes, including lot rental rates, mobile home placement rules, community quality and regulations, HUD compliance, and factory capacity for building new units.

How to Find the Value of a Mobile Home

There are several different ways to estimate mobile home values.

Mobile Home Value Calculator

A “how much is my mobile home worth” calculator will give you a rough estimate of value. Calculators usually require details like the make, model, year, size, and condition of the home. However, standard mobile home value calculators don’t account for market trends. If you’re valuing your home for sale, refinancing, or insurance purposes, you should only use this type of tool as a starting point.

NADA Mobile Home Value

The National Automobile Dealers Association (NADA) publishes valuation guides for mobile homes. Like an online mobile home value calculator, NADA bases value on the home’s year, make, model, size, features, and region, but does not take market dynamics, land value, or condition into account.

You might see the NADA mobile home value referred to as “the blue book value for mobile homes. You can also try googling “free blue book value for mobile homes,” but the better valuation tools charge a fee.

Comparative Market Analysis

You can do a comparative market analysis (CMA) to estimate your mobile home value in the same way you would for a traditional home:

• Identify comparables in the area, matching on age (within 5 to 10 years), size, location, community quality and amenities, and land ownership.
• Look for homes that have sold within the last 6 months.
• Factor in market demand, economic conditions, and interest rates.

If you’re selling or thinking about selling, an experienced real estate agent can give you an estimate based on comparables in your area.

Professional Appraisal

For a more accurate estimate, you can hire a professional appraiser to tour your home and do a more detailed analysis. A formal appraisal is usually required for refinancing, estate purposes, and sometimes for property tax reasons. You may also want a professional appraisal if you’ve made significant upgrades that add to your mobile home value.

Do Mobile Homes Go Up in Value?

In general, mobile homes depreciate over time, just like vehicles. However, they can go up in value if they are

• Located on owned land, where the value of the land drives most of the mobile home values.²
• In desirable markets where homes are appreciating in value.
• Well-maintained with modern updates.

If you’re wondering, “do mobile homes go up in value?” because you are counting on it, be advised that purchasing a mobile home as an investment can be risky.

Whether you’re looking to sell, hoping to buy, refinancing, or you need to know the value of your mobile home for another reason, there are plenty of great resources out there. Rely on a qualified real estate agent for your best valuation advice.

Sources:

¹Mobile Home Values*

²Manufactured Home Prices*

*By clicking these links you will be redirected to a third-party site.