Florida Manufactured Home Community Rent and Occupancy
Continues Growth Trend According to Datacomp 15-Year Market
BY: DARREN KROLEWSKI:
Vice President, Marketing & Business Development at Datacomp – Operator of MHVillage.com & Publisher of JLT Market Reports
Datacomp, publisher of JLT Market Reports and the nation’s #1 market data company for the manufactured housing industry, today announced a 15-year summary report of its manufactured home community rent surveys for 24 Florida markets.
Recognized as the industry standard for manufactured home community market analysis for over 20 years, JLT Market Reports provide detailed research and information on communities located in 75 markets throughout the United States, including the latest rent trends and statistics, marketing programs and a variety of other useful management insights.
The most recent JLT Market Reports for the Florida markets were released in May 2015 and include 695 communities encompassing 194,771 homesites. This summary report is based on rent and occupancy trends from May 2000 to May 2015.
Findings and Observations
Occupancy Continues to Outpace National Average
For the fifth consecutive year, occupancy rates for Florida “All Ages” manufactured home communities increased. As of May 2015, the occupancy rate for All Ages communities is 88%, up .1% over May 2014. The national average for All Ages communities as of December 2014 was 83%.
For the third consecutive year, occupancy rates for Florida “55+” communities increased. As of May 2015, the occupancy rate is 93%, up .2% over May 2014. The national average for 55+ communities as of December 2014 is also 93%.
As of May 2015, Florida ranks 12th for average occupancy in All Ages manufactured home communities out of the 20 regions in which JLT rent surveys are published. Of the 15 regions that include 55+ communities, Florida ranks 8th for average occupancy among this segment.
Continuing Trend of Strong Rent Growth
Average rents in All Ages Florida manufactured home communities continued to increase for the 15th consecutive year.
In May 2015, the average adjusted rent in All Ages communities increased by 3.5% to $472, which is consistent with the average annual compounded increase of 3.6% over the last 15 years. In comparison, the national average adjusted rent for All Ages communities increased 2.7% to $403, as of December 2014.
Download a pdf of the Florida summary report
The average adjusted rent among 55+ communities in May 2015 increased by 3.1% to $460. In contrast, the national average adjusted rent for 55+ communities increased 2.8% to $456, as of December 2014. Florida manufactured home community rents ranked 6th out of 20 regions tracked by JLT for All Ages communities as of May 2015, and 7th out of 15 regions for 55+ communities.
All Florida manufactured housing research is based on data published in JLT Market Reports. Complete reports, including detailed information on manufactured home communities in 24 Florida markets, are available for online purchase by major credit card at www.datacompusa.com/JLT or by calling 800.588.5426. Each Florida manufactured home rent survey, fully updated in May 2015, is a comprehensive look at investment grade properties within a market, enabling owners and managers, lenders, appraisers, brokers, and other organizations to effectively benchmark those communities and make informed decisions.