UMH Properties (NYSE: UMH) is the small-cap heir to the manufactured housing story: 130+ communities across the Northeast, Midwest, and Southeast, growing by filling vacant sites and renting homes it owns, the affordable-housing REIT that actually adds supply.
| UMH Properties (UMH) Snapshot | |
|---|---|
| Share Price (delayed) | $15.38 -0.19% |
| Market Cap | $1.3B |
| Annualized Dividend | $0.90 (Quarterly) |
| Dividend Yield | 5.84% |
| Sector | Residential ยท Manufactured Housing |
Market data updates automatically several times daily. Last price refresh: Jul 14, 2026.
Business Model
UMH’s twist on the ELS/SUI model: buy under-occupied communities, invest in new rental homes on vacant sites, and compound occupancy plus rent together, effectively manufacturing its own growth in a sector where new community zoning is nearly impossible. Same-property results have run strong for years, and the dividend resumed growth after a long post-financial-crisis freeze.
The Honest Risk Section
The rental-home program adds capex intensity and home-price exposure the land-lease purists avoid, leverage includes preferred layers that sit ahead of common, and small scale plus a long history of equity issuance makes per-share math the metric to watch. Solid niche execution, structurally busier than its giant peers.
Frequently Asked Questions
How is UMH different from ELS and Sun Communities?
UMH grows by filling vacant sites with company-owned rental homes, adding supply and capex intensity, versus the giants’ pure land-lease model.
Is UMH’s dividend growing?
Yes, growth resumed in recent years after a long freeze, funded by same-property gains from the occupancy-fill strategy.
Analysis reflects disclosures through Q1 2026. Live market data updates automatically. Independent research, not investment advice.