Depreciation
A decline in a property's value over time; manufactured homes treated as personal property may depreciate differently from real-property homes.
Published May 31, 2026
Depreciation is a decline in the value of property over time. It comes up in manufactured housing because a home's value behavior can depend on whether it is treated as personal property or real property.
A manufactured home titled as personal property — for example, one on a rented lot — is sometimes compared to a vehicle, in that its value may decline with age. A home that has been permanently affixed to land the owner owns and converted to real property through title retirement can behave more like a traditional house, where land and location heavily influence value. Condition, location, the local market, and demand all play a part.
How a home is valued affects financing, resale, insurance, and taxes. This is general information, not legal, financial, or appraisal advice.