UMH Properties Reports Revenue Growth to $71.6 Million in Q2 2026

UMH Properties, Inc. reported a notable increase in financial performance for the second quarter of 2026, with total revenue reaching $71.6 million, up from $66.6 million in the same period last year. The company's net income attributable to common shareholders also saw a significant rise, climbing to $4.4 million, compared to $2.5 million in the prior year. For the first half of 2026, total income was $137.5 million, a 7.5% increase from $127.9 million in the first half of 2025, driven primarily by a 9% increase in rental and related income, which amounted to $120.6 million.

The company’s operational metrics reflected positive trends, with occupancy rates in its manufactured home communities increasing by 110 basis points to 89.4% year-over-year. The number of occupied rental homes rose to approximately 10,700, representing a 7% increase from the previous year. Additionally, the company expanded its portfolio by adding 180 rental homes during the first half of 2026, net of sales. However, community operating expenses also increased by 10% to $50.6 million, attributed to acquisitions and rising costs in payroll, real estate taxes, and utilities.

Strategically, UMH Properties has continued to pursue growth through acquisitions and joint ventures. The company operates 145 manufactured home communities across twelve states, with three communities owned through joint ventures with Nuveen Real Estate. In June 2026, UMH amended its joint venture agreement with Nuveen, allowing for increased ownership stakes in the event of additional capital contributions. The company also launched a new joint venture focused on developing a manufactured housing community in Pennsylvania, which opened for occupancy in June 2025.

Financially, UMH Properties reported total assets of $1.7 billion as of June 30, 2026, with total liabilities of $821 million. The company’s cash and cash equivalents decreased to $28.6 million from $72.1 million at the end of 2025, while marketable securities increased to $29.7 million. The company has access to significant liquidity, with $220 million available on its credit facility and an accordion feature that could increase total availability to $600 million. Looking ahead, UMH Properties remains optimistic about its growth prospects, focusing on acquiring additional manufactured home communities and enhancing its existing properties to meet the demand for affordable housing.