Corporate Ownership Drives Rent Increases in Mobile Home Communities, Impacting Residents
Private equity firms and large investment companies are increasingly acquiring mobile home communities across the United States, leading to significant rent increases for residents. At Smoky Palms North in Clinton, Tennessee, rents more than doubled under new corporate ownership, with one resident, Lillian Goins, reporting her rent increased from $275 to $650. This trend is part of a broader pattern where institutional investors have increased their share of manufactured housing community purchases from 13% in 2017-2019 to 23% by 2021. The rent hikes are justified by owners as necessary to bring rates closer to market levels, but they pose financial challenges for residents, many of whom are on fixed incomes. Senator Maggie Hassan of New Hampshire has initiated an investigation into the practices of major investment firms in New England mobile home parks, seeking to ensure fair rent and safe living conditions for residents. 
