BY: DARREN KROLEWSKI:
Executive Vice President, Marketing & Business Development at Datacomp – Operator of MHVillage.com & Publisher of JLT Rent Surveys
Colorado Manufactured Home Community Rent and Occupancy Continues Growth Trend According to Datacomp 10-Year Market Summary Report
Datacomp, publisher of JLT Market Reports and the nation’s #1 market research company for the manufactured housing industry, today announced a 10-year summary of its manufactured home community rent and occupancy reports for major markets in Colorado.
Recognized as the industry standard for manufactured housing market data 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 Colorado were released in July 2015 and include 94 communities encompassing 27,888 homesites. This summary report is based on rent and occupancy trends from July 2005 to July 2015.
Findings and Observations
Occupancy Numbers for All Ages Communities Outpace National Average
For the seventh consecutive year, occupancy rates in Colorado “All Ages” manufactured home communities have increased. As of July 2015, the occupancy rate is 91%. In comparison, the national average for All Ages communities is currently 83%.
For the third consecutive year, occupancy rates in Colorado “55+” communities have increased. As of July 2015, the occupancy rate is 90%, up 1.4% over July 2014. In comparison, the national average for 55+ communities is currently 93%. As of July 2015, Colorado ranks 7h for average occupancy in All Ages manufactured home communities out of the 19 regions in which JLT Market Reports are published. Of the 14 regions that include 55+ communities, Colorado ranks 10th for average occupancy among this segment.
Continuing Trend of Strong Rent Growth
Average rents in both All Ages and 55+ Colorado manufactured home communities increased for the 10th consecutive year.
In July 2015, the average adjusted rent in All Ages communities increased by 3.9% to $534, which exceeds the average annual compounded increase of 3% in this market. In comparison, the national average adjusted rent for All Ages communities is currently $401.
The average adjusted rent among 55+ communities in July 2015 increased by 3% to $512. In contrast, the national average adjusted rent for 55+ communities is currently $468.
Colorado manufactured home community rents ranked 3rd out of 19 regions tracked by JLT for All Ages communities as of July 2015, and 4th out of 14 regions for 55+ communities.
All Colorado manufactured housing research is based on data published in JLT Market Reports. Complete reports, including detailed information on manufactured home communities in three Colorado markets, are available for online purchase by major credit card at www.datacompusa.com/JLT or by calling 800.588.5426. Each Colorado manufactured home rent and occupancy survey, fully updated in July 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.
About JLT Market Reports
For more than 20 years, countless professionals have trusted JLT Market Reports for timely and accurate management information on land lease manufactured home communities. JLT Market Reports are currently available for 75 markets nationwide and are recognized as the industry standard for community market analysis. JLT Market Reports are published by Datacomp, the industry’s oldest and largest national mobile home appraisal company and operator of MHVillage, the premier website for advertising manufactured and mobile homes for rent in land-lease communities. For more information, or to purchase complete JLT Market Reports, call 800.588.5426 or visit www.datacompusa.com/JLT.