MHVillage sister company Datacomp, publisher of Florida JLT Market Reports and the nation’s #1 market data company for the manufactured housing industry, has made available a 17-year summary report of its manufactured home community rent surveys for 32 Florida markets.
The most recent Florida JLT Market Reports released May 2017 include 752 communities and 208,881 homesites. This summary report is based on rent and occupancy trends from May 2000 to May 2017.
For the seventh consecutive year, occupancy rates for Florida “All Ages” manufactured home communities increased. As of May 2017, the occupancy rate for All Ages communities is 91 percent. That is an increase of 1.8 percent compared with May 2016. The national average for All Ages communities as of December 2016 was 89 percent.
For the fifth consecutive year, occupancy rates for Florida “55+” communities increased. As of May 2017, the occupancy rate is 95 percent, up 0.9 percent compared with May 2016. The national average for 55+ communities as of December 2016 is 95 percent.
As of May 2017, Florida ranks third among five states in the south for average occupancy in All Ages communities. Of the four states within the South region that include 55+ communities, Florida ranks second for average occupancy among this segment.
Among All Ages manufactured home communities,Florida ranks eighth nationally for average occupancy. Of the 55+ communities in the 33 states where JLT market reports are published, Florida ranks fifth.
Strong Rent Growth in Florida JLT Market Reports
Average rents in All Ages Florida manufactured home communities continued to increase for the 17th consecutive year.
In May 2017, the average adjusted rent in All Ages communities increased by 2.1 percent to $497. This is lower than the average annual compounded increase of 3.5 percent during the last 17 years. In comparison, the national average adjusted rent for All Ages communities was $458 as of May 2017.
The average adjusted rent among 55+ communities in May 2017 increased by 4.2 percent to $498. That value puts Florida above the average annual compounded increase of 3.7 percent through the last 17 years. In contrast, the national average adjusted rent for 55+ communities was $519 as of May 2017.
Nationally, Florida ranks eighth in average adjusted rent for both All Ages and 55+ manufactured home communities in the 33 states where JLT market reports are published.
All Florida manufactured housing research is based on data published in JLT Market Reports. Complete reports, including detailed information on manufactured home communities in 32 Florida markets, are available for online purchase with a major credit card at www.datacompusa.com/JLT or by calling (800) 588-5426. Each Florida manufactured home rent survey, fully updated in May 2017, 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.