In 2007, Jim and Debby Laramie moved into a new 1,720-square-foot modular home in Gulfport, Fla. At the time, they paid $118,000 [source: Swider]. The Laramies couldn't believe their good fortune. In 2007, the median price of a single single-family house in Pinellas County, where Gulfport is located, was $210,000. The Laramies were getting a bargain, and they knew it. They bought a brand new, modern house for $92,000 less than what a typical single-family home was worth [source: Swider].
Manufactured housing is an affordable option for Americans to purchase their own homes. Manufactured homes can cost an average of $62,600, compared with $272,200 for a single-family site-built home [source: U.S. Census Bureau, U.S. Census Bureau]. Manufactured homes also cost 10 to 35 percent less per square foot to build than site-built homes [source: ManufacturedHousing.org].
The middle class loves manufactured homes. According to ManufacturedHousing.org, median annual income for those living in a manufactured home is $34,700. Twenty-four percent of all households, however, bring home $50,000 or more each year. In addition, the average household size is 2.7 people [ManufacturedHousing.org].