SUI · 10-Q · 2026Q1 · Full report

Market Demand Trends

SUN COMMUNITIES INC · 2026-04-28 · Importance 49 · Surprise 32

Sun Communities is pursuing organic growth in 2026 driven by expected rental rate increases, occupancy gains and expense management across its MH, RV and UK portfolios. Management highlights strong rental rate growth (MH monthly base rent +5.2%, RV +3.6%, UK +5.0%) and Same Property NOI growth of 6.3% year‑over‑year, contributing to Total NOI of $255.4 million for the quarter. The company is prioritizing rental income and operating efficiencies while selectively pursuing accretive MH and RV acquisitions. These trends reflect demand from both long‑term residents in MH communities and transient/holiday customers in the RV and UK holiday park segments.

Key facts

• Same Property MH monthly base rent increased 5.2% year over year for the three months ended March 31, 2026.
• Same Property RV monthly base rent increased 3.6% year over year for the three months ended March 31, 2026.
• UK Same Property average monthly base rent per site increased 5.0% year over year for the three months ended March 31, 2026.
• The filing lists changes in general economic conditions, including inflation, deflation, energy costs, the real estate industry, the effects of tariffs or threats of tariffs, wars or other international conflicts, trade wars, immigration issues, supply chain disruptions, and the markets within which we operate as a risk factor.
• The filing lists outbreaks of disease and related restrictions on business operations as a risk factor.
• Net cash provided by operating activities may be adversely impacted by lower occupancy and rental rates, increases in operating costs, increases in insurance premiums, decreased sales of manufactured homes, volatility in economic conditions, and disease outbreaks.
• The filing lists competitive market forces as a risk factor.
• The filing lists the ability of purchasers of manufactured homes to obtain financing as a risk factor.

Impact estimates