UMH Properties (UMH) reported gross home sales revenue of $8.4 million for the fourth quarter, reflecting a 9% increase from the $7.7 million recorded in the same period last year. In this quarter, the company successfully converted 122 new homes from inventory into income-generating rental properties.
For the full year, UMH achieved gross home sales revenue of $32.6 million, marking a 4% rise compared to $31.2 million in the prior year. Throughout the year, UMH converted a total of 565 new homes into revenue-producing rental homes.
Looking ahead to 2025, UMH aims to enhance its revenue growth through a 5% annual rent increase and plans to invest in 800 new rental homes.
