UMH Properties
UMH Properties is a U.S. real estate investment trust that owns, operates, acquires, and develops manufactured-home communities.
Last updated August 26, 2026
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Overview
UMH Properties, Inc. is a publicly traded real estate investment trust focused on manufactured-home communities in the United States. The company traces its origins to 1968, when it was established by Eugene W. Landy under the name United Mobile Homes, Inc. Its business has developed around acquiring and operating land-lease communities in which residents typically own or rent manufactured homes while leasing the underlying homesite from the community operator. This model gives UMH exposure to recurring site-rental income while serving demand for comparatively affordable housing. The company adopted the UMH Properties name in 2006, reflecting a broader real-estate identity beyond its original corporate name. Over the following years it expanded through a sustained acquisition program, particularly in the Midwest and Mid-Atlantic regions. Acquisitions described in the company’s historical record included communities in Pennsylvania, Ohio, Indiana, Michigan, New Jersey, New York, Maryland, Tennessee, Alabama, South Carolina, Georgia, and Florida. The portfolio growth strategy generally involved purchasing existing manufactured-home communities, improving their infrastructure and operations, increasing occupancy, and adding homesites or rental homes where appropriate. UMH’s operating footprint is concentrated in states with established manufactured-housing markets and significant demand for lower-cost housing. Its communities range from smaller properties to larger residential developments, and the company’s activities can include property management, infrastructure investment, home sales, and home rentals. In addition to owning communities directly, UMH has participated in joint-venture ownership of Florida communities with Nuveen Real Estate. The company has also used an opportunity-zone investment structure for expansion, including a 2023 acquisition in Georgia. The company’s growth history includes a series of acquisitions from 2013 onward. It purchased Holiday Mobile Village in Nashville in 2013, followed by portfolios and individual communities in Pennsylvania and Ohio in 2014. In 2015, it acquired properties from Sun Communities in Ohio, Indiana, and Michigan, helping broaden its presence in the Great Lakes region. Subsequent purchases through 2022 added communities across the Midwest, Northeast, Southeast, and Mid-Atlantic. The transactions varied substantially in size, from individual community purchases to multi-property portfolios. UMH’s brand and business positioning center on attainable manufactured housing, recurring real-estate income, and the professional operation of residential communities. Unlike a conventional homebuilder or a retail manufactured-home seller, UMH primarily controls and manages the communities and homesites that support manufactured housing. Its role therefore combines elements of residential property ownership, community management, housing development, and real estate investment. The company’s current portfolio, as described in the supplied reference material, comprises approximately 135 communities and roughly 25,700 developed homesites, including two Florida communities held through its Nuveen joint venture. Portfolio totals can change as acquisitions, dispositions, development, and home expansions occur.
History
UMH Properties began in 1968 as United Mobile Homes, Inc., founded by Eugene W. Landy. The business was established around manufactured housing, a sector in which community operators own or control residential land and provide homesites and related services to manufactured-home residents. Over time, this operating model developed into a specialized form of residential real-estate ownership characterized by recurring site-rental income, community management, infrastructure maintenance, and selective home placement or rental. The company’s modern corporate identity dates to 2006, when United Mobile Homes changed its name to UMH Properties, Inc. The change accompanied the company’s evolution into a broader owner and operator of manufactured-home communities and its organization as a public equity real estate investment trust. Rather than focusing solely on selling individual homes, UMH’s core business became the ownership and operation of residential communities, with manufactured-home homesites serving as the principal real-estate asset. Beginning in the 2010s, UMH pursued an active acquisition strategy. In 2013 it acquired Holiday Mobile Village in Nashville, Tennessee. In 2014 it added four Pennsylvania communities and ten Ohio communities. The following year, six properties in Ohio, Indiana, and Michigan were acquired from Sun Communities, alongside six additional Pennsylvania communities. These transactions expanded the company beyond its earlier base and established a larger presence in the Midwest, Great Lakes, and Mid-Atlantic regions. Expansion continued through a mixture of portfolio purchases and individual-community acquisitions. In 2016 UMH acquired three Ohio properties. In 2017 it added communities in Pennsylvania and Indiana and purchased a Maryland property. In 2018 it acquired communities in Indiana and Ohio, while 2019 brought further acquisitions in Ohio, Pennsylvania, and Michigan. The 2019 Michigan transaction and the continuing purchases in Ohio and Pennsylvania demonstrated the company’s preference for building density in markets where it already had operating experience. The acquisition program continued during the 2020s. UMH purchased communities in Pennsylvania and New York in 2020, then expanded into Alabama and South Carolina in 2021. That year it also acquired a Florida community through a joint venture with Nuveen Real Estate. In 2022 the company added properties in Pennsylvania, Alabama, Michigan, South Carolina, Ohio, and New Jersey, while the Nuveen partnership acquired an additional Florida community. In 2023, UMH entered Georgia through a community acquired by a qualified opportunity-zone fund. The resulting portfolio, according to the supplied reference material, consists of approximately 135 manufactured-home communities with about 25,700 developed homesites. The communities are located across twelve states: New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, Georgia, and Florida. Two Florida communities are operated through the Nuveen Real Estate joint venture. Portfolio composition and geographic totals may change as the company acquires, develops, expands, or disposes of properties. UMH’s business model combines long-term real-estate ownership with community operations. Residents may own their manufactured homes while leasing the sites beneath them, and in some locations UMH can provide rental homes or facilitate home sales. The company therefore earns income from homesite occupancy and related residential operations rather than from conventional apartment towers or traditional single-family subdivisions. Its strategic proposition is tied to manufactured housing’s lower cost relative to many forms of site-built housing, although community performance depends on local employment, household formation, financing conditions, regulation, infrastructure, occupancy, and resident demand. Today, UMH Properties is best understood as a specialized public REIT and housing operator rather than a consumer product brand. Its principal identity is built around a portfolio of manufactured-home communities, disciplined property acquisition, regional operating scale, and the provision of attainable residential space in multiple U.S. markets.
- 2023
Georgia opportunity-zone acquisition
[1]UMH acquired a Georgia community through a qualified opportunity-zone fund.
- 2022
Multi-state acquisition program
[1]UMH acquired communities in Pennsylvania, Alabama, Michigan, South Carolina, Ohio, and New Jersey; its Nuveen venture added another Florida community.
- 2021
Southeastern expansion and Nuveen partnership
[1]UMH acquired communities in Alabama, South Carolina, and Ohio and added a Florida community through its Nuveen joint venture.
- 2020
New York added to the operating footprint
[1]The company acquired communities in Pennsylvania and New York.
- 2019
Midwest and Pennsylvania growth
[1]UMH purchased communities in Ohio, Pennsylvania, and Michigan.
- 2018
Indiana and Ohio acquisitions
[1]The company acquired three Indiana communities and three Ohio communities.
- 2017
Expansion in Pennsylvania, Indiana, and Maryland
[1]UMH acquired six Pennsylvania communities, two Indiana communities, and a Maryland property.
- 2016
Further Ohio acquisitions
[1]Three Ohio properties were added to the portfolio.
- 2015
Great Lakes expansion
[1]UMH acquired six communities from Sun Communities in Ohio, Indiana, and Michigan and added six Pennsylvania communities.
- 2014
Pennsylvania and Ohio portfolio expansion
[1]The company acquired four communities in Pennsylvania and ten in Ohio.
Products and positioning
A specialized U.S. residential real-estate owner and operator focused on manufactured-home communities and attainable housing.
Residential real estate
Manufactured-home communities
UMH’s principal operating assets are communities designed for manufactured homes. The company owns or operates the land, roads, utilities, amenities, and other shared infrastructure while providing residents with organized residential settings. Communities may contain a mix of resident-owned homes, company-owned rental homes, and homesites prepared for additional occupancy. Performance is generally connected to occupancy, site rents, operating costs, local housing demand, and the quality of community management.
Land-lease housing
Manufactured-home homesites
Homesites are the individual residential lots leased to manufactured-home residents. They form the central recurring-revenue offering of UMH’s land-lease model. A homesite can include access to roads, utility connections, community amenities, and property-management services. UMH can increase the value and capacity of a community by improving infrastructure, filling vacant sites, expanding developed areas, and maintaining the surrounding residential environment.
Residential rentals
Rental manufactured homes
In selected communities, UMH owns manufactured homes that it offers for rent. This gives households an alternative to buying a manufactured home while allowing the company to earn both home rent and, depending on the arrangement, the associated homesite income. Rental homes also allow UMH to place additional occupied units on available sites and broaden the affordability options available within its communities.
Real-estate development
Community development and expansion
UMH’s real-estate activities include improving existing communities and developing additional residential capacity. Work may involve roads, utilities, site preparation, amenities, landscaping, and other infrastructure required to support manufactured homes. Development and expansion complement acquisitions by increasing the productive use of land already under control and helping communities accommodate additional residents over time.
Brand decisions
2023
Used a qualified opportunity-zone fund for Georgia expansionStrategyBackground
UMH continued geographic expansion while using an investment structure intended for qualifying opportunity-zone projects.
Action taken
The company acquired a Georgia manufactured-home community through its qualified opportunity-zone fund.
Aftermath
The transaction extended UMH’s stated operating footprint into Georgia.
2021
Expanded through a Nuveen Real Estate joint ventureM&ABackground
UMH sought to extend its manufactured-housing platform into Florida while using a joint-venture structure.
Action taken
The UMH-Nuveen venture acquired a Florida community.
Aftermath
The partnership gave UMH exposure to Florida community operations and was followed by another Florida acquisition in 2022.
Acquisition consideration. $22.2 million (2021)
2015
Acquired six communities from Sun CommunitiesM&ABackground
UMH was expanding its manufactured-home community portfolio in the Midwest and Great Lakes region.
Action taken
The company acquired six properties in Ohio, Indiana, and Michigan from Sun Communities.
Aftermath
The transaction broadened UMH’s regional operating footprint and added communities from an established manufactured-housing owner.
Acquisition consideration. $68.6 million (2015)
2006
Adopted the UMH Properties identityStrategyBackground
The company had operated under the United Mobile Homes name since its founding and was developing into a broader owner and operator of manufactured-home communities.
Action taken
It changed its corporate name to UMH Properties, Inc.
Aftermath
The new identity emphasized the company’s real-estate ownership and community-operations business.
Recent events
UMH Properties completes acquisition of South Carolina manufactured home community[3]
Reported:
UMH Properties announced that it closed on the acquisition of a manufactured home community in Sumter, South Carolina, for approximately $3.4 million.
Sources4 sources
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