The Economic Moat
Cities have stopped approving new MHPs for decades. Supply is fixed and shrinking; demand for affordable housing grows. That structural imbalance drives steady rent growth.
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The Operational Reality
Park owners typically own the land and pads, not the homes. Tenants own their homes — so eviction is rare and tenant churn is low.
Risks
City rezoning is the existential risk. Verify the long-term zoning posture before buying. Septic and water utilities often need capital reinvestment within 5–10 years.