05/10/2022
According to the U.S. Census Bureau, about 3.2 million older adults live in mobile homes. Using data from the Census Bureau’s Household Pulse Survey, we examined the financial characteristics and experiences of older adults who live in mobile homes and found that:
• A vast majority of older adults who live in mobile homes own their homes outright, yet many are as equally burdened by housing costs as older adults living in other housing settings.
• Though mobile homes tend to cost less than other forms of housing, older adults in mobile homes pay a similar share of their income for housing-related costs as older adults living in other housing settings.
• Many older adults living in mobile homes struggle to afford their regular living expenses.
Read the CFPB’s Data Spotlight to learn more about the financial experiences and characteristics of older adults living in mobile homes.