PALATKA, Fla. \u2013 A growing housing trend in Northeast Florida is expanding beyond single-family subdivisions and into manufactured housing, as developers look to meet demand from renters priced out of homeownership.<\/p>\n
In Palatka, land clearing is expected to begin within 60 days for The Cove at Silver Lake<\/a> Mobile Home Park, a 56-unit community of newly built manufactured homes \u2014 all available for rent.<\/p>\n RELATED | More Addressing A4Dability coverage<\/a><\/p>\n \u201cWe\u2019ve been working on this development for about two and a half years now,\u201d said Apryle Melvin of KOP Realty, the developer behind the project. \u201cNow that we finally have the green light and everything\u2019s been approved, we\u2019re ready to roll on it.\u201d<\/p>\n Unlike traditional mobile home parks, where residents may own their homes, every unit at The Cove will be built from the ground up and leased to tenants, reflecting the broader \u201cbuilt-to-rent\u201d model that has gained traction across the region.<\/p>\n MORE | More than 1 in 10 new Duval homes are built only for renters. Is it helping or hurting affordability?<\/a><\/p>\n Melvin said the focus is on what she calls \u201cattainable\u201d pricing with rents set below the area\u2019s typical rates.<\/p>\n \u201cThe average rent in Palatka, you\u2019re looking between $1,400 and $1,800, depending,\u201d she said. \u201cWith us being a little bit below the market rate, it\u2019s just more attainable.\u201d<\/p>\n Two-bedroom homes will start at $1,000 a month, while three-bedroom units will begin at $1,150, according to the developer.<\/p>\n Melvin said demand for new construction rentals remains strong, especially as rising home prices and higher borrowing costs keep many families out of the buying market.<\/p>\n \u201cIf they were looking to buy a house, the same house they could have gotten for $150,000 in 2019 is now $340,000,\u201d she said. \u201cIt just outpriced everyone for the most part. So we focus on attainable homes.\u201d<\/p>\n At the neighboring property next door, Silver Lake Oaks<\/a>, they\u2019re already operating under a similar model and renters said affordability was the primary draw.<\/p>\n \u201cOh yeah. Absolutely,\u201d said Shelby Langford, when asked whether cost played a role in her decision to rent. \u201cIt\u2019s just so hard to get into a rental, first month, last month, and just the haggle and everything. It\u2019s just terrible.\u201d<\/p>\n Andrew Powell, another renter, said reasonably priced options do not stay available for long.<\/p>\n \u201cThe way the housing market is, it\u2019s starting to turn over, but you get something that\u2019s pretty affordable and you can\u2019t pass it by,\u201d Powell said.<\/p>\n Langford added that rental homes can offer more space and amenities than similarly priced apartments.<\/p>\n \u201cWe pay a very good price, and getting an apartment is very expensive and you\u2019re not getting the space, you\u2019re not getting the community, you\u2019re not getting the views,\u201d she said.<\/p>\n Melvin said one renovated four-bedroom, two-bath home on a neighboring built-to-rent property is leasing for $1,500 a month and has been completely updated, from plumbing and electrical systems to appliances.<\/p>\n