Corporate Ownership Leads to Rent Hikes for Mobile Home Residents
Mobile home residents across the U.S. are experiencing significant rent increases as private equity firms and large investment companies acquire mobile home communities. At Smoky Palms North in Clinton, TN, rents more than doubled under new corporate ownership, with some residents seeing increases from $275 to $650. This trend is part of a broader pattern where corporate investors have been purchasing mobile home parks, leading to rent hikes that many residents, particularly those on fixed incomes, cannot afford. The Manufactured Housing Institute reports that approximately 22 million Americans live in manufactured homes, which include mobile homes and modular constructions. The rising rents are forcing some residents to sell their homes and relocate, as moving a mobile home can cost between $4,000 and $10,000. 
