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M REPORT | 55 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Gen Z Looks to Manufactured Housing More and more young adults are shattering misconceptions about modular and manufactured housing as many pursue these options to secure housing in an otherwise unaffordable market. M ore and more young adults are shatter- ing misconceptions about modular and manufactured housing as many go with these options to secure housing in an otherwise unaf- fordable market. This information comes by way of a new survey from Vanderbilt Mortgage and Finance, Inc, a national financial intuition focus- ing on manufactured, modular, and mobile homes. The survey, conducted by the company's con- sumer insights team using Statista data, investigated how potential homebuyers perceive off-site built housing, as well as what they're looking for in their homes. Overall, Vanderbilt Mortgage and Finance found that Gen Zers (representing people born between 1997-2010, or 20.6% of the American population) now see manufactured housing as a viable way to get into the market compared to sentiments held by previous generations due to the customizable options and varied price points it offers. Using this new data, Vanderbilt Mortgage intends to use these in- sights to meet the needs of today's newest generation of buyers. Looking deeper at the data, nearly three-quarters of Gen Zers surveyed reported a positive impression of off-site built housing indicating that the "outdated, and often incorrect, perceptions of off-site built housing are quickly changing as younger generations discover the quality and afford- ability of off-site built homes." The data also found that the price of a home (now an aver- age $433,070 as reported by HouseCanary) is a huge factor in this shift in perceptions about manufactured housing. When compared to the $433,000 a new home goes for, manufactured housing can offer a home for around $130,000. "Overall, Gen-Zers see the many possibilities for off-site built homes with customizable options at attainable price points," Vanderbilt Mortgage wrote in their report on the findings. "Modern, stylish, and energy- efficient home design options also contributed to the positive overall impression. Vanderbilt Mortgage's insights team works hand-in-hand with a design team that sifts through the data to sug- gest changes in home design that reflect the needs of future and current homeowners." "We believe that our homes are an ideal way for younger gen- erations to achieve the American dream of homeownership without sacrificing comfort or style," said Vanderbilt Mortgage Director of Customer Experience Jason Langston. "Today's off-site built homes have a modern aesthetic, are energy-efficient, and provide an attainable path to homeowner- ship." Sustainability, affordabil- ity, and "green" manufacturing processes are also top concerns for Gen Z as they want to invest in something environmentally friendly. For example, Vanderbilt Mortgage's survey discovered that they prefer renewable materials and value sustainability. In fact, the environmental reputation of a builder is more important than their business ratings or customer service to the majority of Gen-Z. Construction quality and home prices ranked higher than the en- vironmental reputation, however. Acting on this research, Vanderbilt Mortgage has also par- ticipated in an initiative to plant 2.33 million native species trees in forests through a partnership with the Arbor Day Foundation.