Raeford, NC — Mobile Home Park Investments

Raeford is the county seat of Hoke County, NC, a small but growing community positioned directly between Fort Liberty and the Moore County resort corridor. With a population of approximately 5,800 and Hoke County’s rapid growth driven by Fort Liberty proximity and lower housing costs, Raeford represents one of the more overlooked but compelling value-add opportunities in the Fayetteville CSA for mobile home park investors.

Raeford Market Overview

Hoke County is one of the fastest-growing counties in North Carolina by percentage, driven by households priced out of Cumberland County (Fayetteville) who still need access to Fort Liberty’s employment base. Raeford sits approximately 20 miles from Fort Liberty’s main gate via NC-401, making it viable as a commuter community for enlisted personnel, civilian employees, and contractors.

Hoke County has historically had high poverty rates and limited economic development, but the dynamic is changing. Population growth, new residential development, and improved road infrastructure are gradually elevating the county’s economic profile. Median household income in Raeford is approximately $42,000 — below the state average but growing as the Fort Liberty workforce commuter base expands.

Why Raeford for Manufactured Housing Investment

Raeford’s investment case is anchored in value and upside:

• Below-market acquisition costs relative to Fayetteville or Moore County assets
• Strong workforce housing demand from the Fort Liberty commuter population
• Significant lot rent upside in a market where rents have historically lagged regional growth
• Hoke County’s population growth creating new housing demand
• Limited competition from institutional or professional operators
• Below-average land costs with reasonable development potential

Local Lot Rent Data and Trends

Raeford’s lot rents reflect the area’s historically lower income base, but have tracked upward as Hoke County grows. Estimated average lot rents:

• 2015: ~$335/month
• 2019: ~$378/month
• 2023: ~$425/month
• 2025: ~$448/month

The 34% decade increase is notable given the market’s low starting point. Experienced operators who acquire at value-add cap rates and execute on rent normalization have achieved strong returns. The gap between Raeford rents and Fayetteville rents ($450–$520/month) suggests continued upside as the commuter market matures.

Zoning and Permitting Landscape

Raeford and Hoke County operate under a unified zoning ordinance administered by the county planning department. Hoke County has been relatively accommodating of manufactured housing given the community’s workforce housing needs. Manufactured housing communities are permitted within residential and mixed-use zones, with conditional use permits required for new development. The regulatory environment is generally less restrictive than urban counties, reflecting local priorities around affordable housing provision.

Infrastructure: Water and Sewer

Raeford is served by the City of Raeford’s public water and sewer system, which covers the core urban area. Hoke County also operates a water and sewer authority that has been expanding service into growth areas. Parks within Raeford city limits or in designated county service zones have access to public utilities. Outlying rural parcels in Hoke County may still rely on well and septic — this is a critical distinction for due diligence, as infrastructure upgrades in rural areas can be capital-intensive.

Proximity to Fort Liberty and Employment Centers

Raeford’s employment geography centers on Fort Liberty commuter access:

• Fort Liberty main gate: ~20 miles northeast via NC-401 (25–30 minute commute)
• Fayetteville commercial and healthcare employment: ~20–25 miles northeast
• Southern Pines/Moore County: ~25 miles northwest via NC-211
• Hoke County Schools (major local employer)
• Agriculture and food processing operations in the Raeford area (poultry processing)

Related pages: Fayetteville, NC Guide | Spring Lake, NC | North Carolina Guide | Southern Pines, NC

Frequently Asked Questions

Is Raeford/Hoke County too rural for mobile home park investing?

Not if the park has city utilities and access to the Fort Liberty commuter corridor. Parks within Raeford city limits with public water and sewer can support professional management and stable rent growth. Truly rural parcels with well/septic carry more risk.

What cap rates are typical for Raeford mobile home park deals?

Value-add acquisitions typically price in the 8%–12% cap rate range, reflecting the market’s rural risk premium. Stabilized, well-managed assets may trade tighter. The upside from rent normalization can be significant for operators who buy right.

Is Hoke County’s growth sustainable?

Fort Liberty’s permanent installation status and NC-401 corridor growth suggest yes. As Fayetteville and Cumberland County become less affordable, Hoke County will continue attracting workforce households who need Fort Liberty access at lower housing costs.

What are the biggest risks in the Raeford market?

Tenant income concentration around Fort Liberty (any significant force reduction would impact demand), and infrastructure quality in older parks. Thorough due diligence on utility systems, infrastructure condition, and current rent levels relative to market is essential.