Park count and lot count in Rhode Island
Rhode Island is home to approximately 50 mobile home parks containing roughly 3,400 lots — making it a smaller but established MHP markets in the United States. The average park size is around 68 lots, consistent with mid-size operator portfolios.
These figures are estimates compiled from US Census manufactured-housing data, MHI shipment reports, and state-level MHP industry surveys. The actual count fluctuates as new parks come online (slowly) and existing parks redevelop into other land uses (also slowly).
Lot rent levels in Rhode Island
Average lot rent in Rhode Island parks runs approximately $715 per month as of 2026. Rhode Island sits at the higher end of the Northeast range, reflecting both metropolitan cost-of-living and constrained land supply.
Operators benchmarking against the state average should keep in mind that lot rents vary widely by submarket within Rhode Island. Metro-area parks routinely run 30–60% above the state average; rural parks often sit 20–30% below. The state average is a starting point, not a price-setting input.
Cap rates and valuation in Rhode Island
Stabilized MHP cap rates in Rhode Island cluster between 6.5% and 7.5% as of 2026, placing the state in the tier2 tier of MHP markets nationally. Lower cap rates apply to larger, fully-stabilized, TOH-heavy assets in the strongest submarkets; higher cap rates apply to smaller, value-add, or POH-heavy parks.
Recent transactions in Rhode Island reflect the macro cap-rate stabilization that played out across MHP nationally in 2024-2025. Cap rate compression of the 2018-2021 era is over; the new normal is range-bound pricing with mild upward movement in higher-rate environments.
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Tier-1 stabilized6.5% – 7% — large, fully-stabilized, agency-financeable parks
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Tier-2 typical7% – 7.25% — mid-size or mixed POH/TOH portfolios
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Tier-3 value-add7.25% – 8.5% — smaller or under-occupied parks with infill upside
Regulatory environment in Rhode Island
Rhode Island has no MHP rent control as of 2026. Operators retain pricing flexibility, which is reflected in slightly tighter cap rates relative to comparable rent-controlled states. Watch for state legislative activity each session — proposals that haven't passed often return.
Beyond rent control, Rhode Island's Mobile and Manufactured Homes Act (RIGL 31-44) governs the broader MHP landlord-tenant relationship — notice periods, eviction procedures, lease requirements. Compliance is uniform across the state, so multi-park Rhode Island operators can run a single playbook rather than per-jurisdiction variance.
What to watch in 2026
Rhode Island's stable market means operational excellence drives returns more than market-timing. Watch for: vendor cost trends (insurance, taxes), labor costs for on-site managers, and submarket-level rent dynamics. Outperformance in stable markets comes from running a tighter operation than the average operator, not from market beta.