The housing market has seen significant shifts over the past two decades, with a persistent desire among US residents to own a home. A recent study examined this appeal, revealing that the desire for homeownership remains strong, especially among renters of color and young individuals. The financial benefits of owning a home further reinforce this aspiration, with a majority believing it leads to better financial stability.
Next Step played a vital role in the development of this study by providing access to valuable insights into survey data on the cost of producing manufactured housing. Our involvement and input from various stakeholders helped shed light on the cost differentials between manufactured and site-built homes. The study, conducted pre-COVID pandemic, provides estimates that, albeit lower due to subsequent inflation, highlight the relative costs of these housing options.
Understanding the nuances of housing costs can inform prospective homeowners’ decision-making. With data-driven insights from studies like this one, individuals can better assess the financial implications of choosing between manufactured and site-built homes. Next Step’s contribution to such research underscores our commitment to promoting sustainable homeownership solutions.
