UMH Properties Reports Increased Income and Occupancy in Q2 2025

UMH Properties, Inc. reported a notable increase in financial performance for the second quarter of 2025, with total income rising to $66.6 million, up from $60.3 million in the same period last year. This growth was driven primarily by a 9% increase in rental and related income, which reached $56.2 million, and a 19% rise in sales of manufactured homes, totaling $10.5 million. For the first half of 2025, total income was $127.9 million, compared to $118 million in the prior year. The company’s net income attributable to common shareholders also improved, reaching $2.5 million for the quarter, compared to $0.5 million in Q2 2024.

In terms of operational metrics, UMH Properties reported an increase in occupancy rates, which rose to 88.2% from 87.4% year-over-year. The company also expanded its rental home inventory, adding 237 homes during the first half of 2025, bringing the total to approximately 10,600 rental homes. The average sales price of manufactured homes increased to $103,000, reflecting a growing demand for affordable housing amid a tight housing market. The company’s community operating expenses increased by 7% to $23 million for the quarter, attributed to acquisitions and rising operational costs.

Strategically, UMH Properties has been active in expanding its portfolio, acquiring two age-restricted communities in New Jersey for approximately $24.6 million in March 2025, and two additional communities in Maryland for $14.6 million in July 2025. These acquisitions are part of the company’s ongoing strategy to enhance its real estate investments and improve occupancy rates. The company operates 144 manufactured home communities as of July 2025, with a total of approximately 26,800 developed homesites.

The company’s financial position remains strong, with total assets of $1.6 billion and total liabilities of $690.3 million as of June 30, 2025. The company’s liquidity is supported by $79.2 million in cash and cash equivalents, $30.2 million in marketable securities, and $260 million available on its credit facility. UMH Properties has also been proactive in managing its capital structure, issuing $40.4 million in common stock through its at-the-market program and $80.2 million in Series B Bonds in July 2025 to fund ongoing operations and acquisitions.

Looking ahead, UMH Properties aims to continue its growth trajectory by seeking additional acquisition opportunities, particularly in qualified opportunity zones. The company remains optimistic about the demand for affordable housing and plans to leverage its existing portfolio to enhance shareholder value. The management has indicated that they will focus on maintaining occupancy levels and increasing rental rates, which are expected to contribute positively to future financial performance.