UMH Properties, Inc. Welcomes the 21st Century ROAD to Housing Act: A Major Boost for Affordable Manufactured Housing

Samuel A. Landy, President and CEO of UMH, highlighted the critical role manufactured homes play in providing high-quality, affordable housing to millions of American families. He stated that the 21st Century ROAD to Housing Act is set to eliminate outdated barriers that have historically constrained the potential of manufactured housing. By modernizing federal standards, the Act is expected to lower production costs, improve financing access, and ease placement restrictions, ultimately enabling UMH to expand its communities and enhance the offerings to its residents.

Landy emphasized that these reforms are poised to accelerate industry growth, aligning with UMH's ongoing efforts in community development, home sales, and operational excellence. With a portfolio of 145 communities and approximately 27,100 homesites, UMH is strategically positioned to capitalize on the increased demand for affordable housing solutions.

The 21st Century ROAD to Housing Act introduces several provisions that are particularly beneficial for the manufactured housing sector and UMH's business model:

One of the most significant changes is the removal of the permanent chassis requirement for manufactured homes. This legislative update allows for the construction of homes "with or without a permanent chassis," which is expected to significantly reduce construction costs. The flexibility in design will enable the introduction of innovative multi-story homes and larger floor plans, allowing for more diverse residential options. Additionally, this change promotes uniformity in state laws concerning financing, titling, taxation, and zoning, increasing the competitiveness of manufactured homes in various locations, including urban areas.

The Act also enhances the FHA Title I financing program, increasing loan limits for FHA-insured manufactured housing loans and expanding eligible uses. This improvement aims to make financing more accessible for potential homebuyers, thereby supporting higher occupancy and sales growth within UMH's communities. The changes are expected to facilitate the realization of the American dream of homeownership for many families.

Further provisions of the Act encourage local governments to adopt zoning reforms and support for factory-built housing. This creates a more favorable environment for placing manufactured homes across diverse residential areas. Together with the chassis reform, these provisions align well with UMH’s strategic growth initiatives in established and emerging markets.

UMH Properties, Inc. has been a key player in the manufactured housing sector since its establishment in 1968. The company operates 145 manufactured home communities across several states, including New Jersey, New York, Ohio, and Florida, among others. A notable aspect of UMH's operations is its commitment to providing safe and well-maintained communities that support the American dream of homeownership through manufactured housing.

Landy concluded his statement by expressing gratitude to the Manufactured Housing Institute for their advocacy efforts in favor of the industry and for the successful passage of the 21st Century ROAD to Housing Act.

With the enactment of the 21st Century ROAD to Housing Act, UMH Properties, Inc. is poised to benefit significantly from the legislative changes aimed at revitalizing the manufactured housing sector. These reforms not only promise to enhance the company’s operational capabilities but also play a pivotal role in addressing the broader housing crisis facing the nation. As UMH continues to expand its portfolio and innovate within the industry, it remains dedicated to improving affordable housing access for families across the country.