UMH Properties, Inc. is a publicly traded real estate investment trust (REIT) focused on the affordable housing sector through the ownership and operation of manufactured home communities. The company's primary business model involves acquiring, developing, and managing these communities to generate recurring rental income. Revenue is predominantly derived from leasing land (homesites) to residents who own their manufactured homes, as well as renting out company-owned manufactured homes directly to tenants. Additionally, through its wholly-owned taxable subsidiary, UMH Sales and Finance, Inc., the company sells manufactured homes to prospective residents and provides related financing, creating a vertically integrated approach to community development.
As of 2026, UMH's portfolio encompasses 145 manufactured home communities with approximately 27,100 developed homesites, of which over 11,200 contain rental homes. The company's geographic footprint spans 12 states, primarily concentrated in the Northeast, Midwest, and Southeast, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, and Florida. UMH also operates over 1,000 self-storage units and holds thousands of acres of vacant land for future expansion.
UMH's competitive position is anchored in its ability to provide high-quality, affordable single-family housing in markets with strong demand and limited supply. By continuously upgrading community infrastructure, adding rental units, and offering in-house sales and financing, the company maintains high occupancy rates and steady net operating income growth. Its focus on the manufactured housing niche allows it to operate as a low-cost provider of quality housing while delivering consistent returns to shareholders.
