UMH Properties backs 21st Century ROAD to Housing Act
UMH Properties, Inc. supports the 21st Century ROAD to Housing Act to boost affordable manufactured housing. The Act removes the permanent chassis requirement and updates FHA Title I financing to reduce costs and expand supply. UMH operates 145 communities with 27,100 homesites across multiple states.
*this image is generated using AI for illustrative purposes only.
UMH Properties, Inc. has expressed strong support for the 21st Century ROAD to Housing Act, comprehensive bipartisan legislation designed to address the nation’s housing shortage by expanding supply, reducing costs, and modernizing regulations for manufactured housing. The real estate investment trust (REIT), specializing in manufactured home communities, anticipates that the legislation will remove outdated barriers, enabling the company to expand its communities and enhance resident offerings. With 145 communities and 27,100 homesites, UMH is positioned to capitalize on increased demand for affordable housing solutions.
Samuel A. Landy, President and Chief Executive Officer of UMH, commented that the legislation modernizes federal standards to lower production costs, improve financing access, and ease placement restrictions. Landy stated that these reforms are poised to accelerate industry growth, complementing UMH’s ongoing initiatives in community development, home sales, and operational excellence. The Act includes key provisions expected to benefit the manufactured housing sector and UMH’s portfolio across the Northeast, Southeast, and Midwest.
The removal of the permanent chassis requirement is a central component of the legislation. This update to the federal definition of a "manufactured home" allows units "with or without a permanent chassis." The change is expected to reduce construction costs by thousands per home, enable innovative multi-story designs, and promote uniformity in state laws for financing, titling, taxation, and zoning treatment. This flexibility is anticipated to make manufactured homes more competitive in a broader range of locations, including urban infill sites.
Updates to the FHA Title I financing program are also included in the Act. The bill increases loan limits for FHA-insured manufactured housing and property improvement loans, expands eligible uses to include accessory dwelling units, and directs studies to reduce barriers. These enhancements are expected to improve affordability and accessibility for potential homebuyers, supporting higher occupancy and sales growth within UMH's communities. Additionally, the Act eases zoning and land-use barriers through incentives for local governments and guidelines for zoning reforms.
UMH Properties, Inc., organized in 1968, owns and operates 145 manufactured home communities containing approximately 27,100 developed homesites. Of these, 11,200 sites contain rental homes, and the portfolio includes over 1,000 self-storage units. The communities are located across New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Included in the total are two communities in Florida and one in Pennsylvania that UMH operates through joint ventures with Nuveen Real Estate.
| Key Metric | Value |
|---|---|
| Total Communities | 145 |
| Developed Homesites | 27,100 |
| Rental Homes | 11,200 |
| Self-Storage Units | Over 1,000 |
| Joint Venture Sites (Florida) | 363 |
| Joint Venture Sites (Pennsylvania) | 113 |
What is the projected timeline for the passage of the 21st Century ROAD to Housing Act, and how might delays impact UMH's near-term expansion strategy?
How will the removal of the permanent chassis requirement specifically influence UMH's ability to develop multi-story designs in urban infill locations?
To what extent will the increased FHA Title I loan limits improve occupancy rates in UMH's existing communities compared to driving new home sales?
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