Key Takeaways
- • Manufactured housing communities in markets with more than 5,000 homesites recorded average rent growth of 6.2% in 2026, down from 7.9% in 2025 but still well above the less than 3% annual growth multifamily properties have posted since 2023, according to Marcus & Millichap's second-half 2026 National Manufactured Housing Report.
- • National vacancy rates held near 5%, though regional dispersion widened as new supply and shifting migration patterns affected individual markets.
- • Orlando posted 22.8% rent growth, while San Antonio recorded the largest year-over-year vacancy increase in the country, up 980 basis points.
- • Investment sales activity through August 2026 exceeded the full-year total for the prior year, per the report as cited by Institutional Real Estate, Inc.
Summary
Manufactured housing communities continued to post strong rent growth in 2026 despite moderating demand in some markets, according to Marcus & Millichap's second-half 2026 National Manufactured Housing Report, as reported by Institutional Real Estate, Inc. Across markets with more than 5,000 homesites, average rent growth reached 6.2% in 2026, a deceleration from 7.9% in 2025. Even at the slower pace, the figure remains well above the less than 3% annual rent growth recorded by multifamily properties since 2023, underscoring the segment's relative pricing resilience for allocators comparing residential asset classes.
National vacancy rates remained near 5%. Beneath that stable average, however, regional performance diverged as new supply and changing migration patterns reshaped local market conditions. Orlando led the largest markets with rent growth of 22.8%, while San Antonio experienced the sharpest vacancy deterioration nationally, with vacancy rising 980 basis points year over year.
Investment activity also picked up. According to the report, manufactured housing investment sales through August 2026 already exceeded the total recorded for the prior full year. The primary source article was truncated at this point, so further detail on transaction volumes, pricing, and buyer composition is not available in the source material reviewed.
National vacancy rates remained near 5%. Beneath that stable average, however, regional performance diverged as new supply and changing migration patterns reshaped local market conditions. Orlando led the largest markets with rent growth of 22.8%, while San Antonio experienced the sharpest vacancy deterioration nationally, with vacancy rising 980 basis points year over year.
Investment activity also picked up. According to the report, manufactured housing investment sales through August 2026 already exceeded the total recorded for the prior full year. The primary source article was truncated at this point, so further detail on transaction volumes, pricing, and buyer composition is not available in the source material reviewed.
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