9 Things You Need To Know About Living in a Mobile Home Community in Florida
According to Statista, there are 285,357 mobile homes in Florida, more than any other state except Texas and North Carolina. Home Nation says there are more than 1,600 mobile home communities in the Sunshine State, including retirement communities, 55 plus communities and mobile home parks.
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Many defy the typical trailer park stereotype with luxurious amenities, tropical ambiance and tight-knit, familial resident populations. But if you’re considering moving to or retiring in one, make sure you understand the budgetary pros and cons.
“Moving into a Florida mobile home community offers both financial challenges and opportunities,” said Chris Townsend, a Three Movers expert moving consultant with over a decade of experience and intimate knowledge of Florida’s mobile home communities. “Prospective residents should be aware of the costs involved and the potential savings they might enjoy.”
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First, the Big Discount — The Home Itself
According to Florida Value Homes, the average new single-wide mobile home in the state costs between $30,000 and $80,000, with double-wide mobile homes ranging from $60,000 to $150,000, depending on the home’s age, size, condition and location.
Comparatively, Zillow says the average traditional home in Florida costs nearly $390,000.
“Living in a mobile home community can be more affordable than traditional housing,” said Townsend. “The cost of purchasing a mobile home is typically lower, and the community setting can offer shared amenities that reduce overall living expenses.”
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Lot Fees Are Forever and Can Lead to Annual Sticker Shock
Unlike a traditional house, someone else usually owns the land underneath your mobile home.
“On average, you’ll pay $300 to $600 per month to lease the lot your mobile home sits on,” said Fluent in Finance founder Andrew Lokenauth, a Florida resident and long-time real estate investor with financial stakes in mobile home communities in the state. “They may increase annually.”
In October 2023, a local ABC affiliate published a report called “The Price of Paradise.” Hundreds of seniors living in two Tampa Bay-area mobile home parks were at risk of losing their retirement homes when their lot fees jumped from $503 per month to $615, then to $778 in three consecutive years.
You’ll Pay Property Taxes in One of Three Ways
According to the Florida Department of Revenue, mobile homes are taxed in one of these ways:
Assessed and taxed as real property
Subject to an annual license tax
Assessed and taxed as tangible personal property
Whichever way, it’ll cost you.
“Expect to pay 5% to 10% of the mobile home’s value annually in taxes to the county,” said Lokenauth.
The More Amenities, the Higher the HOA Fees
Florida’s mobile home communities lure transplants and retirees from across the country with shared amenities like pools, activity courts, community centers and tropical landscaping — and the residents all chip in for upkeep.
“HOA fees are usually $100 to $300 per month for community amenities and maintenance,” said Lokenauth.
Just like lot fees, these can increase without warning.
You Can Budget Much Less for Maintenance and Repairs
Not only do mobile homes cost much less to buy than traditional homes, they’re also cheaper to own.
In a blog post, Michelle Gibson of Wellington Florida Real Estate wrote, “The costs connected to, for example, landscaping, are practically non-existent. Although it might not seem like much, over time you can save quite a bit of money that otherwise would be spent on maintenance.”
It’s important to note that mobile homes tend to depreciate, which is why it’s crucial to keep yours in tip-top shape.
“Budget for regular maintenance and repairs like replacing appliances, roofs and siding to protect resale value,” said Lokenauth. “Consider a home warranty to cover unexpected repairs and protect your budget. They typically cost $400 to $800 annually.”
Save Money To Prepare for Upfront Costs
It’s important to prepare for more than just moving costs in the potentially expensive first few days.
“Many overlook initial setup costs when moving into a mobile home community,” said Townsend. “This can include transportation of the home, installation and utility hookups. It’s crucial to budget for these to avoid surprises.”
Financing Can Be Limited and Expensive
According to Manufactured Housing News from Triad Financial Services, Florida lenders are often hesitant to extend loans for mobile homes, which can make financing a challenge.
Mobile home loans often come with shorter terms of 10 to 25 years, have age and condition restrictions and have higher interest rates. Homeowners insurance typically costs more, too.
Living in Florida Means Living With Florida’s Weather
According to the Florida Manufactured Housing Association (FMHA), all factory-built homes in the state are strictly regulated and must be able to withstand hurricane-force winds, but the state’s notoriously unforgiving climate can eat away at your home and your wallet, just the same.
“Expect higher electric bills in summer for [air conditioning] that runs often due to heat and humidity,” said Lokenauth. “Purchase affordable hurricane shutters or impact windows and invest in a portable generator in case of power outages from storms.”
A Mobile Home Can Punch Your Ticket to the Florida Beach Life
If you thought buying a house in Florida was cost-prohibitive, try buying a house near the beach. But for buyers on a budget, a mobile home can make the dream of living in paradise come true.
“Mobile home living provides an accessible option if you’re looking for an inexpensive place with amenities near the beach or nice weather,” said Wayne Kask, a lifelong Florida resident, former mobile home owner, travel expert and founder of Always on the Shore, a website dedicated to beaches and attractions in Florida. “When I lived in a mobile home park after college, I enjoyed having neighbors and things like a pool or clubhouse nearby. But not all communities are created equal, so research is key.”
To help anticipate costs and lifestyle considerations, Kask suggests researching:
Zoning rules and what goes into setting up utilities
How to get permits for modifications
Community rules and the potential for price increases
Responsiveness of management in any community you’re considering
“Ultimately, living in a mobile home community allowed me to afford to enjoy homeownership near the coast for a while,” said Kask. “But doing my homework on areas, processes and priorities made a big difference. If you research properties, rules and what matters, Florida’s mobile home parks could be your budget-friendly beachside escape.”
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This article originally appeared on GOBankingRates.com: 9 Things You Need To Know About Living in a Mobile Home Community in Florida
