M/I Homes

What M/I Homes does

M/I Homes, Inc. is a publicly traded U.S. homebuilder (NYSE: MHO) founded in 1976 and headquartered in Columbus, Ohio. The company constructs and sells single-family homes and townhomes across 17 markets spanning the Midwest, Southeast, and Texas, with current operations in Austin, Charlotte, Chicago, Cincinnati, Columbus, Dallas/Fort Worth, Dayton, Detroit, Fort Myers/Naples, Houston, Indianapolis, Minneapolis/St. Paul, Nashville, Orlando, Raleigh, San Antonio, Sarasota, and Tampa. As of its 2026 50th anniversary, M/I Homes has built over 170,000 homes and maintains approximately 50,000 owned or controlled lots representing 5-6 years of land supply. Its product portfolio includes the Smart Series entry-level line, Quick Move-In Homes, Community Living townhome developments, financing services, a Design Studio personalization offering, and a Transferable Structural Warranty.

The business operates a direct-to-consumer go-to-market model through model home communities in each market, supplemented by a multi-channel digital marketing presence and real estate agent referral partnerships. Revenue is generated one-time at point of home sale with no recurring component; average closing prices were approximately $459,000 in Q1 2026. Q1 2026 revenue was $921M (down 6% YoY) with gross margin of 22% (down 390 bps), backlog of 2,245 units valued at $1.20B (down 21% and 23% YoY respectively), and a balance sheet featuring $767M cash, zero borrowings on a $900M credit facility, and $3.2B in shareholders' equity. The customer base is highly fragmented across entry-level, first-time, 55+ active adult, downsizer, and affordable housing segments served exclusively through individual residential transactions.

Operationally, M/I Homes has partnered with Prophetic to deploy an AI-native land acquisition platform intended to compress zoning, feasibility, and diligence cycles across markets. The company has also pursued a joint venture with Habitat Company to deliver 227 townhomes including affordable units at The Bowery of Highland Park, Illinois, and in May 2026 added Eugene D. (Gene) Smith to its Board of Directors. Prior growth has included bolt-on acquisitions of Pinnacle Homes (2018) and Hans Hagen Homes (2015). Market capitalization stood at approximately $3.57B as of January 2026.

Name

M/I Homes

Legal name

M/I Homes, Inc.

Website

https://mihomes.com

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

M/I Homes is a publicly traded U.S. homebuilder (NYSE: MHO) founded in 1976 and headquartered in Columbus, Ohio, that constructs and sells single-family homes and townhomes directly to residential buyers across 17 U.S. markets, with over 170,000 homes built to date and a roughly 50,000-lot land supply.

Ownership category

akta.pro rank

Product category

Residential Homebuilding

NAICS

New Housing For-Sale Builders (236117)

SIC

General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Custom Home Building (IMAFABAC)

Keywords

• Single-family homebuilding
• Residential construction services
• Townhome development
• New home sales
• Home design services

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Home Sales Revenue: M/I Homes generates revenue primarily through the sale of newly constructed single-family homes and townhomes. The company builds and sells homes across 17 U.S. markets, with average closing prices around $459,000. Revenue is one-time at point of sale with no recurring component from individual transactions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

M/I Homes builds and sells newly constructed single-family homes and townhomes across 17 U.S. metropolitan markets (Columbus, Cincinnati, Indianapolis, Chicago, Tampa, Austin, Houston, Dallas/Fort Worth, Raleigh, Charlotte, Orlando, San Antonio, Sarasota, Fort Myers/Naples, Minneapolis/St. Paul, Detroit, Dayton, Nashville). The company offers Quick Move-In homes for near-term occupancy, build-to-order homes with personalized Design Studio consultation, and the Smart Series entry-level product line with pre-selected affordable options, supplemented by in-house financing assistance and a transferable structural warranty.

Product overview

M/I Homes is a national homebuilder celebrating its 50th year in business, operating as a single unified product line (new home construction) augmented by sub-brands and services. The core offering encompasses single-family homes and townhomes built across 17 U.S. markets, supported by the Smart Series entry-level product line, Quick Move-In Homes pre-construction option, and Community Living townhome communities. The company supplements its homebuilding with Design Studio personalization services, financing assistance, and a Transferable Structural Warranty. M/I Homes has also partnered with Prophetic to deploy an AI-native land acquisition platform across its markets, consolidating parcel discovery, zoning analysis, regulatory review, market intelligence, and pipeline management into a unified system.

Differentiator

Problem solved

Functional benefit

Brands

• Smart Series: A package of design options handpicked in advance for a more affordable and seamless design process, targeting first-time homebuyers and those looking to downsize
• Smart Series

Products and services

• New Home Construction Core new-build single-family home and townhome construction across 17 U.S. markets, with options for custom design, Quick Move-In homes, and planned community developments. Targeted at individual homebuyers seeking a primary residence.
• Smart Series Entry-level product line of pre-selected, affordably priced design options packaged in advance for a streamlined design and buying experience; targeted at first-time homebuyers and downsizers.
• Quick Move-In Homes Pre-built or near-completion homes available for immediate occupancy across M/I Homes' communities, allowing buyers to bypass the typical construction timeline.
• Design Studio Personalized home design consultation service in which experienced Design Consultants curate customized interior and structural design options for buyers of build-to-order homes.
• Financing Services In-house and partner mortgage and financing assistance to help homebuyers secure funding for their new home purchase, including support for first-time buyers.
• Transferable Structural Warranty Comprehensive structural warranty provided with each M/I Homes home, transferable to subsequent homeowners, covering structural elements of the property.
• The Bowery of Highland Park Townhome Development A 227-unit townhome development in Highland Park, Illinois, developed in partnership with Habitat Company, including 34 affordable housing units per inclusionary zoning requirements; land closing expected spring 2026 with groundbreaking in second half of 2026.

Quantifiable outcome

• 50,000 owned or controlled lots representing 5-6 years of land supply
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• PropheticcoreTechnology or Integration · 16 June 2026M/I Homes engaged Prophetic, a Portland-based AI-native technology provider, to deploy software for land evaluation and acquisition across single-family homebuilding operations. The platform consolidates parcel discovery, regulatory and environmental analysis, competitive market analysis, yield estimates, and pipeline management into a unified system designed to compress weeks of work into minutes and shorten the diligence cycle without adding headcount.
• Habitat CompanycoreStrategic or Co-development PartnerHabitat Company partnered with M/I Homes on a joint venture to develop 227 townhomes called The Bowery of Highland Park on the former Solo Cup manufacturing site in Highland Park, Illinois. The project includes 34 affordable housing units per inclusionary zoning requirements and represents the largest housing project in the village in generations. Land closing expected spring 2026 with groundbreaking in second half of 2026.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• D.R. Horton: Largest U.S. homebuilder by volume and the industry benchmark, building single-family homes and townhomes across most U.S. metro markets. Closest comparable to M/I Homes by product mix, buyer base, and national footprint.
• Lennar Corporation: Top-three U.S. for-sale homebuilder offering single-family homes and townhomes to entry-level, move-up, and active-adult buyers nationally. Directly competes with M/I Homes across many Sun Belt and Midwest markets.
• PulteGroup: National homebuilder operating Centex, Pulte, and Del Webb brands across entry-level, move-up, and 55+ segments. Comparable customer segmentation and product breadth to M/I Homes.
• NVR, Inc. Highly capital-efficient for-sale homebuilder with a build-to-order model across the Mid-Atlantic, Midwest, and Southeast. Closely comparable business model to M/I Homes' build-to-order and quick move-in hybrid strategy.
• Taylor Morrison Home: Top-five U.S. homebuilder offering single-family homes and active-adult communities in Sun Belt and Western markets. Direct competitor in M/I's Florida, Texas, and Carolinas footprint.
• Toll Brothers: National for-sale homebuilder focused on move-up and luxury segments across urban and suburban markets. Comparable for-sale builder operating model with a heavier move-up tilt than M/I.
• KB Home: West Coast-anchored for-sale homebuilder emphasizing build-to-order, energy efficiency, and affordability. Comparable buyer focus and build-to-order orientation to M/I Homes.
• Meritage Homes: Top-ten U.S. homebuilder operating in Sun Belt and Western states with a strong entry-level focus and energy-efficiency positioning. Highly comparable to M/I Homes' entry-level and geographic strategy.
• Tri Pointe Homes: Mid-cap for-sale homebuilder serving move-up and premium buyers in select California, Sun Belt, and Mid-Atlantic markets. Comparable for-sale builder with overlapping buyer segments.
• Century Communities: Top-ten U.S. for-sale homebuilder concentrated in entry-level and value-priced product across Mountain West, Southwest, and Southeast regions. Directly comparable entry-level tilt and Sun Belt presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/MIHomesInc
• Facebookfacebook.com/MIHomesInc
• LinkedInlinkedin.com/company/mi-homes
• Instagraminstagram.com/mihomes
• Pinterestpinterest.com/mihomes
• Xx.com/mihomes

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M/I Homes