Is a Mobile Home Cheaper to Rent or Buy?


Quick Answer

Mobile homes are cheaper to rent in the short term, than to buy. However in the longer term, after 10 years, it becomes cheaper to buy a mobile home.

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Full Answer

Buying a mobile home for short-term use is expensive. That's because, just like a car or any other vehicle, it depreciates in value. Since mobile homes do not have the same wide appeal as cars, they depreciate in value more quickly, reports City-data.com. On the other hand, living in a mobile home for a long period, say for ten years or more, is cheaper if the home is purchased outright. Choosing to buy rather than rent is only to be advised in the case of long-term commitment to owning a mobile home.

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