The ongoing housing shortage has ramped up demand for manufactured housing, as persistent inflation and economic uncertainty have some Americans who are nearing retirement seeking out alternative options.

"High homeownership costs and a persisting housing shortage have caused many to consider manufactured housing as a comparatively affordable option, even amid rent increases in the sector," Marcus & Millichap analysts note in a new report on the property type, noting that favorable long-term demand drivers have bolstered fundamentals as of late. The average vacancy rate of manufactured housing rental sites in the US was 6.1 percent at the end of last year, and "the near-term limited supply change will likely aid these metrics going forward," according to the report.

And as apartment rents also skyrocket, manufactured housing is poised for a boom. The vacancy rate has tightened below 1 percent in several metros, including Denver and San Jose. The Southeast also reports low subregional vacancy rates in the first half of the year, at 4.7 percent. This was driven largely by the Miami-Dade metro, which had "near-full occupancy" during the period.