Washington Mobile Home Park Market: 2026 Data and Outlook

Park count and lot count in Washington

Washington is home to approximately 720 mobile home parks containing roughly 74,000 lots — making it a significant MHP markets in the United States. The average park size is around 103 lots, skewed toward larger institutional-scale assets.

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 Washington

Average lot rent in Washington parks runs approximately $780 per month as of 2026. Washington sits at the higher end of the West Coast 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 Washington. 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 Washington

Stabilized MHP cap rates in Washington 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 Washington 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.

• Tier-1 stabilized
  6.5% – 7% — large, fully-stabilized, agency-financeable parks
• Tier-2 typical
  7% – 7.25% — mid-size or mixed POH/TOH portfolios
• Tier-3 value-add
  7.25% – 8.5% — smaller or under-occupied parks with infill upside

Regulatory environment in Washington

Washington doesn't impose statewide rent control on MHP, but several cities and counties have local caps. Operators with Washington parks in regulated submarkets should price acquisitions accordingly — the underwriting math differs meaningfully between rent-controlled and rent-uncontrolled jurisdictions even within the same state.

Beyond rent control, Washington's Manufactured/Mobile Home Landlord-Tenant Act (RCW 59.20) governs the broader MHP landlord-tenant relationship — notice periods, eviction procedures, lease requirements. Compliance is uniform across the state, so multi-park Washington operators can run a single playbook rather than per-jurisdiction variance.

What to watch in 2026

Washington's tight market means acquisition opportunities are scarce. Watch for: distressed seller situations (especially older operators reaching exit age), broker pocket-listings before they hit the market, and any submarket softening that signals cap rate widening. Operator buyers with patient capital will outperform those who chase compressed-cap deals.