I owned one for a couple years in Tacoma, WA in a small park run by the owner, who lived on-site. We had a good experience and, after living (in a stick built home) in Texas, where I taught for 10 years, we bought another manufactured home when we retired back to Washington state, out on the Olympic Peninsula.
We actually bought a condo in a golf course community (mostly having stick built homes, however) about 7 years before that, but never lived there and only rented it out. We'd intended to live there but decided it was a little dark inside.
Looked at some manufactured homes and finally bought in a small park (52 homes) right next to our small downtown—walking distance to everything (that was another reason, the condo was about 3 miles outside of town).
About 1400 sq. feet, two beds/two baths, with cathedral ceilings through the central part of the house, meaning out living room is tall and full of light, as is our bedroom (which is very spacious). There's also a nice utility room.
We did some remodeling (new floors, counters in the kitchen, re-done master bath), just re-painted the outside of the house, and my wife has done lots of work in the garden (small yard, but it's quite beautiful now).
Values don NOT hold as well in these homes, partly because you don't own the land (well, in a park you don't! There are plenty built on the owner's land).
For us, "space rent" is $430/month, and also includes water, sewer, and garbage. Pretty reasonable cost. Property taxes are also lower (duh, you don't own the land!).
For us, at this point in our lives, it's a good choice. Not for everyone, I'm quite sure, but it's working for us.