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How Much Does an Acre of Land Cost?

$ Wyoming: $1,550 per acre $ $ Average National Land Price: $98,980 per acre $ $ $ New Jersey: $196,410 per acre

The real state world it’s been part of the American dream since the golden age of history, and many desire to own their own houses.

But buying a house is not possible for many due to different factors such as the price point, which left buying land as the best option for them due to a great number of reasons.

Buying vacant land gives owners the possibility of building whatever they want on it or using it as they see fit, it’s a blank canvas with hundreds of possibilities.

In the US, lands are sold and bought in acres, which is a unit of area used to describe a specific amount of land; An acre of land equals 4046.856 square meters or approximately 43,560 square feet.

What Affects The Price Of An Acre Of Land?

According to MasterClass.com, there are 5 major variables that affect the price of an acre of land, which include:

  • Rural vs. suburban vs. urban location.
  • Infrastructure.
  • Economic activity.
  • Topography.
  • Supply and demand.

Along with the location and the type of land you want to buy, the size and how much land you want will also affect the final price.

The major factor that determines the price of an acre of land is the geographical location, as an acre of land can cost as little as a few dollars to as much as a few million dollars depending on where it is located.

The national average cost per acre depending on the state where it is located is shown in the following chart:

Rank State Avg. Cost Per Acre
1 New Jersey $196,410
2 Rhode Island $133,730
3 Connecticut $128,824
4 Massachusetts $102,214
5 Maryland $75,429
6 Delaware $57,692
7 New York $41,314
8 California $39,092
9 Ohio $32,077
10 Pennsylvania $31,923
11 Florida $28,961
12 Michigan $23,765
13 Illinois $23,492
14 Virginia $21,921
15 New Hampshire $19,840
16 South Carolina $17,610
17 Indiana $16,903
18 Washington $16,752
19 North Carolina $16,230
20 Tennessee $14,411
21 Georgia $14,242
22 Louisiana $12,908
23 West Virginia $10,537
24 Wisconsin $9,924
25 Minnesota $8,191
26 Texas $7,542
27 Vermont $7,439
28 Oklahoma $7,364
29 Missouri $7,233
30 Kentucky $7,209
31 Arkansas  $6,739
32 Iowa $6,590
33 Oregon $6,503
34 Colorado  $6,462
35 Maine $6,142
36 Mississippi $5,565
37 Utah $4,664
38 Arizona  $4,328
39 Kansas  $4,220
40 Idaho $3,435
41 Nebraska $2,936
42 North Dakota $2,517
43 Montana $2,283
44 South Dakota $2,135
45 Nevada $2,116
46 New Mexico $1,931
47 Wyoming $1,550

According to Zippia.com, the following are the 10 most expensive and 10 cheapest states to buy land:

10 Most Expensive States To Buy Land

  • New Jersey
  • Rhode Island
  • Connecticut
  • Massachusetts
  • Maryland
  • Delaware
  • New York
  • California
  • Ohio
  • Pennsylvania

10 Cheapest States To Buy Land

  • Wyoming
  • New Mexico
  • Nevada
  • South Dakota
  • Montana
  • North Dakota
  • Nebraska
  • Idaho
  • Kansas
  • Arizona

Things to consider

Before Buying

  1. First, you need to set up a budget and think about the type of land you want and what will you use it for. LandWatch.com is a website that allows you to browse by city the number of acres you want and the prices you’re willing to pay.
  2. Look for your local real estate agents to start looking for advice and land quotations.
  3. You have to make a survey of the land before buying it, which may be or not be included in the price of the land.
  4. Also, check the utilities that come with the land before buying it.
  5. To get a general idea of how much the land has sold in an area check local tax assessor records or Zillow.com to you an idea of the land’s worth.

When Buying

  1. Keep in mind that when you buy a land, the timber, structures, and other developments are included in the purchase unless stated differently in the purchasing contract.
  2. Included in the price of the land will be the recording deeds, mapping, regulatory permits, and other paperwork related to the state of the purchased land.

After Buying

  1. After buying a land there are many construction possibilities. Keep in mind that building a home or any other structure will require permits and approval from the state before you can build anything.
  2. If you need to clear the land you bought, clearing land per acre can cost from $100 per acre to $6,000 per acre.
Giovanna Soto
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