Land Leasing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS 53119Revenue
$19.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
123k
Businesses
90,435
Wages
$X.Xbn
Land Leasing in the US industry analysis
Land leasing companies rent land for residential or commercial use, often for manufactured homes. Leasers range from individuals with small plots to large companies that manage entire communities. Manufactured homes offer a more affordable alternative to traditional on-site housing. Over the five years to 2024, land leasing revenue grew at a CAGR of 1.9% to reach $19.1 billion in 2024, including anticipated 0.9% growth in 2024. Profit remains high at 47.4% of revenue.<br />New housing starts slowed and supply fell in the past few years, pushing prices to extreme highs. The rush to build homes and apartments brought a surge in revenue for private landowners. Manufactured homes' production speed supported supply and gave refuge to home buyers priced out of the traditional market. According to the Manufactured Housing Institute, new home sales volume fell faster than manufactured homes, indicating consumer uptake. With skyrocketing prices, land leasing companies enjoyed higher revenue in 2021 and 2022. A considerable share of Americans retired after 2020. Facing few housing options and, fixed incomes, manufactured home communities provide a reasonable path to homeownership.<br />Nonresidential land has struggled in the wake of the pandemic. Office and commercial space lost value to the growing online economy. However, companies leasing land for warehouses and storage prospered in this new era. With supply chains in shambles, delivery companies searched for warehouse space to manage the chaos. More recently, elevated interest rates have threatened land leasing companies substantially. High interest rates often stave off new business and create trouble for existing leases. <br />Over the five years to 2029, revenue is estimated to rise at a CAGR of 2.5%, reaching $21.5 billion in 2029. Financial pressure will push buyers with lower incomes from the traditional housing market toward affordable manufactured homes. Moreover, the housing supply shortage will not likely be resolved over the next five years, creating additional demand for land rental. Anticipated interest rate cuts by the Federal Reserve early during the outlook period are anticipated to raise demand from the nonresidential real estate market.
Trends and Insights
- Rising home prices encouraged manufactured home buying. Landowners managing large manufactured home communities have prospered over the past five years.
- Manufactured homes offer low-cost alternatives to expensive new homes. Low-income consumers and retirees make up the bulk of the manufactured home market.
- Florida attracts retirees to its warm weather and low costs. More retirees have grown the manufactured home community in Florida.
- Liquidity risks for private owners enable larger land leasing companies to purchase smaller plots at bargain prices, reducing competition. Areas with strong economic growth might be more resilient to interest rate hikes.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.9 % over the past five years, to reach an estimated $19.1bn in 2024.
Trends and Insights
Manufactured homes provide refuge to priced-out home buyers
- Home prices skyrocketed in 2021 and 2022 as COVID-19 brought low interest rates, remote work, and greater demand for more space, contributing to the spike in home prices. However, the sales volume plunged in 2022 as new housing starts couldn't meet demand.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The housing affordability crisis is likely to continue
- The Federal Reserve is anticipated to begin to cut interest rates in 2024. However, the housing shortage is expected to persist during the outlook period, despite new homes becoming relatively more affordable because of rate cuts.
Biggest companies in the Land Leasing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Sun Communities, Inc. | 2,845.7 | 1,283.1 | 45.1 | |
Equity Lifestyle Properties, Inc. | 1,386.7 | 639.2 | 46.1 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Manufactured homes and resort communities, Nonresidential sites and Other. Manufactured homes and resort communities is the largest segment of the Land Leasing in the US.
Trends and Insights
Despite the rising prices of new manufactured homes, vacancies remain low at many MHCs, indicating that demand is outstripping supply
- Manufactured, or mobile, homes come from a standardized production process in a factory before being transported to the home site. Land leasing companies own the mobile home community's land.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Apartment Rental in the US
- Commercial Leasing in the US
- Storage & Warehouse Leasing in the US
- Campgrounds & RV Parks in the US
Complementors
- Property Management in the US
International industries
- Industrial and Other Property Operators in Australia
- Commercial Property Operators in New Zealand
- Property Management Services in the UK
- Rental & Leasing in Germany
Table of Contents
About this industry
Industry definition
Operators in this industry act as lessors of real estate that does not include permanent buildings; such real estate includes manufactured home, including mobile home, sites, vacant lots and grazing land. Manufactured and mobile home sites are residential developments for the placement of detached, single-family manufactured homes that are produced off-site. These are then installed within the community on a residential site that is leased by the homeowner.
What's included in this industry?
Manufactured homes and resort communitiesNonresidential sitesPrivate propertyOtherCompanies
Sun Communities, Inc.Equity Lifestyle Properties, Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
RECREATIONAL VEHICLES (RVS) US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTMANUFACTURED HOMEMOBILE HOMEON-SITE HOMEIndustry Code
NAICS 53119 - Land Leasing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Rising home prices encouraged manufactured home buying. Landowners managing large manufactured home communities have prospered over the past five years.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Manufactured homes offer low-cost alternatives to expensive new homes. Low-income consumers and retirees make up the bulk of the manufactured home market.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Florida attracts retirees to its warm weather and low costs. More retirees have grown the manufactured home community in Florida.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Liquidity risks for private owners enable larger land leasing companies to purchase smaller plots at bargain prices, reducing competition. Areas with strong economic growth m...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Sun Communities' strong performance highlights the business opportunities in RV parks, not just manufactured homes. Manufactured housing continues to experience growth, fuele...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Sun Communities, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Equity Lifestyle Properties, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Sun Communities, Inc., and factors influencing its performance in the industry
- Description and key data for Equity Lifestyle Properties, Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Manufactured Home Institute provides detailed information on manufactured home prices compared with the traditional housing market. MHI hosts an annual trade show, the MH...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Land doesn't count toward depreciation costs because its potential usefulness never ends. Its intrinsic value might fluctuate based on market conditions, but it doesn't depre...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Land Leasing in the US industry in United States in 2024?
The market size of the Land Leasing in the US industry in United States is $19.1bn in 2024.
How many businesses are there in the Land Leasing in the US industry in 2024?
There are 90,435 businesses in the Land Leasing in the US industry in United States, which has grown at a CAGR of 0.0 % between 2019 and 2024.
Has the Land Leasing in the US industry in United States grown or declined over the past 5 years?
The market size of the Land Leasing in the US industry in United States has been growing at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Land Leasing in the US industry in United States over the next 5 years?
Over the next five years, the Land Leasing in the US industry in United States is expected to grow.
What are the biggest companies in the Land Leasing in the US market in United States?
The biggest companies operating in the Land Leasing market in United States are Sun Communities, Inc. and Equity Lifestyle Properties, Inc.
What does the Land Leasing in the US in United States include?
Manufactured homes and resort communities and Nonresidential sites are part of the Land Leasing in the US industry.
Which companies have the highest market share in the Land Leasing in the US in United States?
The company holding the most market share in United States is Sun Communities, Inc..
How competitive is the Land Leasing in the US industry in United States?
The level of competition is moderate and steady in the Land Leasing in the US industry in United States.
