by Laura Mueller
Buying land is a good investment. But before you can capitalize on it, you have to be able to make the purchase. Land prices vary greatly from state to state, with some states averaging out at almost $200,000 an acre (we see you, New Jersey). But what about those states with cheap land? If you’re not picky about where you buy, you can get a great deal by branching out your search and looking at land in one of the states where acreage is relatively cheap. Here are some states to set your sights on.
Montana, Wyoming, South Dakota, Nevada, New Mexico
What do all these states have in common? Aside from being located out in the western part of the country, each of these states have land for sale that’s priced extremely low—about $2,000 an acre. That’s a whole lot of bang for your buck. Of course, prices vary within the states themselves. You’re probably not going to be able to get land that cheap in Las Vegas, for example, or in a luxury mountain community. But if your goal is simply to acquire land—and lots of it—you can stretch your dollar the furthest by making your purchase in one of these states.
North Dakota, Idaho, Nebraska
Averaging out around $3,000 an acre, land in these states is just a touch higher than in those states that are the least expensive. And if you’ve ever been to North Dakota, Idaho, or Nebraska, you know that there is plenty of land available, especially if you’re interested in ranching or farming. Like the states with the cheapest land, these states specialize in low populations (North Dakota is ranked 47 out of 50 when it comes to number of inhabitants) and wide open space. If you’re focused more on cheap acreage than hustle and bustle, you should find plenty of good options here.
Kansas and Arizona
If you want to buy land in Kansas or Arizona, you should have no trouble finding a good deal—land in these states averages just $4,000 per acre. Again, consider that prices do vary depending on where in the state you choose to buy. If you’re looking around Wichita or Phoenix, for example, you’re going to have to pay a bit more. But both Kansas and Arizona offer great opportunities for new or trepidatious land buyers to buy up land without having to pay a ton of money.
Utah, Iowa, Oregon, Oklahoma, Colorado, Mississippi, Kentucky, Minnesota, Arkansas, Maine, Vermont
Land in these states averages out between $5,000 and $8,000 an acre. They’re the last of the states with average acreage available under $10k. There’s a big disparity within this group among population and home prices, but all of them do have one big thing in common: land for sale, and plenty to go around. And because they’re spread out over the U.S., you’re not as tied down to one specific region if you want to stay in this price range.
Land—like all types of real estate—is cheap only in comparison to the rest of the market. While $8,000, or even $2,000, an acre may still seem pretty steep, consider that more than half of the country has acreage that averages out much higher. If you want a good deal on land, it may be worth looking outside of your own state.
All land price data based on information from HowMuch.
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