Mobile homes are particularly popular in rural or lower-cost housing markets. Mobile homes are more susceptible to damage from tornadoes and hurricanes compared to traditional homes, especially in areas like Lima.
Some modular homes are designed to allow future upgrades easily. A large percentage of affordable housing in Lima consists of mobile and manufactured homes.
On owned land, manufactured homes are more likely to appreciate similarly to traditional homes. Most lenders treat modular homes like site-built homes, enabling standard mortgage terms. Mobile homes are pre-constructed homes built on a chassis, allowing them to be moved from one location to another. Many residents own their mobile homes but rent the lot in a park, which can impact security and cost.