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s traditional home prices continue to soar across the US, many prospective buyers are turning to mobile homes as a more affordable option. However, these once-budget-friendly alternatives have seen a significant price increase over the past five years.

    According to data from the HUD and Census Bureau analyzed by LendingTree, the average sales price of new mobile homes has risen 58.34% between 2018 and 2023, outpacing the growth in site-built single-family home prices. The current average sales price is $124,300, a figure that's still lower than traditional home prices but steadily climbing into six-figure territory.

    Despite this increase, traditional homes remain vastly more expensive, with an average price of $409,872 in 2023. However, mobile homes are no longer the bargain they once were, and their rising cost is causing concern among experts.

    Geographically, the cost of a new mobile home varies widely, with states like Washington, California, and Arizona topping the list for the most expensive options. Meanwhile, states like Indiana, Wyoming, and Ohio offer more affordable alternatives.

    However, price growth hasn't been uniform, with some states seeing steeper increases than others. Additionally, securing financing for mobile homes can be challenging, particularly if buyers don't own the land beneath their property. The resale market for mobile homes can also be tough, especially for units in trailer parks or on rented land.

    Despite these challenges, the affordability gap between mobile homes and site-built homes keeps them a viable option for many prospective buyers. However, the recent surge in prices raises questions about whether the trend will stabilize or reverse in the coming years.