Private Equity Manufactured Housing Tracker

The Private Equity Manufactured Housing Tracker identifies 23 private equity firms and hedge funds owning over 1,900 manufactured home parks and 400,000 lots in the U.S. It argues that institutional investors capitalize on the limited mobility of residents to increase rents and fees, often with financing from Fannie Mae and Freddie Mac. The report details specific instances of rent hikes, poor maintenance, and unjust evictions, while calling for government intervention to preserve affordability and protect residents' rights.

• Twenty-three private equity firms and hedge funds own more than 1,900 manufactured housing parks in the U.S., encompassing over 400,000 lots. Three of the largest U.S. private equity firms—Apollo Global Management (Inspire Communities), Blackstone (Treehouse Communities), and The Carlyle Group—maintain large portfolios in this sector.
• Institutional investment in manufactured housing is increasing; in 2020 and 2021, these investors accounted for 23% of all manufactured home purchases, compared to 13% between 2017 and 2019.
• Florida, Michigan, and Texas have the highest concentrations of private equity-owned parks. In Michigan, private equity firms own more than 25% of all manufactured homes.
• U.S. Government-sponsored lenders Fannie Mae and Freddie Mac have significantly financed private equity acquisitions. While these agencies financed only 9% of all manufactured home parks in the U.S., they financed 47% of the private equity-owned parks identified in the tracker.
• The private equity business model relies on the limited mobility of residents to increase cash flow and property value. Because moving a home is costly (averaging $5,000 to $10,000) and difficult, owners can raise rents with little impact on demand.
• The report documents numerous cases of resident hardship following private equity acquisitions, including rent increases of up to 60%, failure to maintain basic infrastructure like water and sewage, and aggressive evictions.

APA

Private Equity Stakeholder Project (2026). Private Equity Manufactured Housing Tracker. https://pestakeholder.org/pesp-private-equity-manufactured-housing-tracker/

Chicago

Private Equity Stakeholder Project. Private Equity Manufactured Housing Tracker. 2026. https://pestakeholder.org/pesp-private-equity-manufactured-housing-tracker/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Private Equity Manufactured Housing Tracker |date=January 2026 |url=https://pestakeholder.org/pesp-private-equity-manufactured-housing-tracker/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2026private, author = {{Private Equity Stakeholder Project}}, title = {{Private Equity Manufactured Housing Tracker}}, institution = {Private Equity Stakeholder Project}, year = {2026}, month = jan, url = {https://pestakeholder.org/pesp-private-equity-manufactured-housing-tracker/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }