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Modular homes could cost less than $300,000 when the average home price is around $550,000 in the state, according to the Colorado Association of Realtors
AURORA, Colo. — As Colorado’s housing prices continue to rise, the city of Aurora is trying to make home ownership attainable for more people. With the median price of a home in the state at $550,000, many families and individuals are kept out of the market.
The city of Aurora passed a resolution this week in support of modular construction as a separate housing category to increase attainable housing in Colorado.
“Aurora is always looking for innovative solutions to issues in our city and we are just really proud to be able to embrace this,” Aurora City Councilmember Françoise Bergan said. “Aurora is leading the way to offer this for those people who are really wanting home ownership and couldn’t ever dream of it ever happening in the near future.”
Modular homes are different than mobile homes. They are made entirely in a factory, then transported to the land they will be on.
“Basically, you could not tell the difference between a stick-built home that was done on site versus in the factory. So, the quality standards are all still there, and obviously, you own the land that your home is on. It’s a little bit different,” Bergan said.
Governor Polis also announced this week he will use Proposition 123’s affordable housing financing fund to support modular manufacturers in the state. His office projects more than 4,700 homes will be constructed this year.
“We just want to have a good, diverse housing product mix and at different price points,” Bergan said.
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