Housing affordability remains a significant challenge across the United States. Today, over a third of American households spend more than 30% of their income on housing alone. According to recent Pew Research Center findings, nearly half of renters and over a quarter of homeowners face this financial strain. With a persistent national housing shortage and elevated interest rates, affordable options are increasingly scarce for many.
Our Solution: Mobile Home Communities
There are approximately 43,000 manufactured housing communities in the U.S., providing homes to over 22 million residents—just over 6% of the nation’s housing stock. At ODC, affordable housing is central to our investment strategy. Mobile home communities present a practical solution for the nearly 40% of American workers who earn less than $20,000 per year. By focusing on these communities, we’re committed to providing quality, cost-effective living options, creating a lasting impact in each place we serve.
Since its inception in 2019, ODC has focused on mobile home communities. We’ve acquired over 6,700 units across 14 states by refining our processes and selection criteria. Improving management and infrastructure in these communities is key to our approach, but we also see substantial value in infilling additional homes. This practice allows us to maximize value by filling vacant lots, creating win-win opportunities—residents gain a new place to live, and the community thrives. Despite rising costs for mobile homes and infill, they remain substantially more affordable than traditional single-family homes. The total cost of a mobile home, including setup, can be under $100,000, while the average U.S. single-family home now exceeds $400,000.
Our Investment Strategy: ROLLS
Our criteria for investment are rooted in our ROLLS strategy:
- Resident-Owned Homes: Aims to give residents equity in their homes while we maintain the community and collect lot rent.
- Opportunities for Infill & NOI Growth: Boosts long-term value, benefiting both residents and investors.
- Large Enough for Management Efficiencies: Ensures the community can support full-time management.
- Location: Focus on populated, stable, and growing markets (MSA +100k, job growth, business-friendly).
- Sub-Metered Utilities: Keeps operating costs manageable.
This strategy aligns with our goal of building sustainable communities that serve residents’ needs while delivering long-term value for our investors.
Impact Beyond Investment
While our investment strategy and outcomes matter, so does the positive impact we have on residents’ lives. Whether it’s stocking a food pantry, helping after a natural disaster, or hosting back-to-school events, our actions are driven by our core value: “good people doing good.”
What are your thoughts on the future of affordable housing?
Check out our mobile home investments here.