Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.

A tiny home company has received big money.

Legacy Housing Corp. now has $48 million in new funding as a result of an initial public offering.

The company (Nasdaq: LEGH) offered 4 million shares at $12, which is expected to be the top of its price range, according to an announcement.

The nation’s fourth-largest manufactured home builder, Legacy is known for commercially viable tiny homes, but also provides an array of similar housing options, such as “single wides” and “double wides.” It also provides modular options for remote oil and extraction industry employees.

Legacy Housing Corp.

According to tinysociety.co, quoting statistics from Realtor.com, “Homes beneath the 500-square-feet range are appreciating twice as fast as the overall market” and “68 percent of tiny house owners don’t have mortgages.”

Legacy Housing Corp.

The tiny house market is expected to have grown when 2018 numbers are finalized. As of July of this year, Businesswire.com reported that the tiny house market should end at a CAGR (Compound Annual Growth Rate) of 6.99 percent.

New offerings targeting retirement communities and elderly empty-nesters are expected to contribute to the sector’s ongoing growth.

Legacy Housing Corp.

The company stated it plans to use the funds raised to expand to new markets and service debt, among other general business purposes. Its target is more markets in the southern United States.

Homes are offered in a wide range of sizes and configurations, ranging from 390 square feet to just over 2,600, and from one bedroom to five. The most expensive home in their current inventory is priced at $95,000.

Have a technology product you would like to discuss? Email Craig Rowe

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×