We found a MHP in Florida in a town of only 406 but with a metro of 350,000. This park is roughly a 30 min drive to 2 different 100K population cities. Should we be concerned that the city the park resides in doesn’t even have 500 people in it? Thanks for the insight!
Test AD to confirm demand and market numbers have to show good ( i.e. 2 bed rents SFH price unemployment) . I personally would not have an issue with it if the other items checked out.
I’d say the metro area is the key. A small town by a larger population area isn’t a concern.
Another thought is to watch your insurance expenses and availability in Florida. Rates are higher there, and coverages such as loss of income, particularly for smaller parks or those with a lot of rental homes is hard to find at reasonable costs.
Are all the lots occupied, are they owned by the tenants? If so then it is a strong indication the population supports the community.
If there are a large proportion of park owned rentals then there is no guarantee based on rental occupancy.
We like that type of scenario. Easier to deal with a small city. Also take a peek at rents and in the larger communities… are they rising. People live where they can afford to live and work where they can earn the most.