“Land is the only thing in the world that amounts to anything.” – Margaret Mitchell
Land is a valuable asset that can provide you with pride, security, and identity. It can also be a great investment opportunity, as land prices tend to appreciate over time. However, finding cheap and affordable land for sale in the United States can be challenging, especially with the growing demand for land in 2024. That’s why we at Mossy Oak Properties are here to help you.
We are experts in identifying and purchasing land and know how to find the best deals in the market. In this guide, we will share the top 10 states with the cheapest land in 2024 based on the average price per acre, the availability of land, and the quality of life.
Whether looking for a place to build your dream home, start a farm, or invest in real estate, these states offer you the best opportunities to own land without breaking the bank. Read on to find out which states made the list and why.
1. Arizona
- Average price per acre: $4,200
- Cost of living index: 97.73
- Population: 7.4 million
Pros: Sunny weather, diverse landscapes, rich culture, low taxes
Arizona offers affordable land with scenic views and plenty of outdoor activities. It is also a growing state with a strong economy and a low cost of living.
2. New Mexico
- Average price per acre: $6,000
- Cost of living index: 87.5
- Population: 2.1 million
Pros: Mild climate, natural beauty, cultural diversity, low taxes
New Mexico is a land of enchantment, with a rich history and a unique culture. It is also a land of opportunity, with low land prices and a low cost of living.
3. Mississippi
- Average price per acre: $10,835
- Cost of living index: 84.8
- Population: 2.9 million
Pros: Southern charm, hospitality, low taxes, music, food
Mississippi is a state with a lot of character and a lot of potential. It has some of the cheapest land in the country, as well as a low cost of living and a friendly atmosphere.
4. Colorado
- Average price per acre: $11,561
- Cost of living index: 110.9
- Population: 5.8 million
Pros: Mountain views, outdoor recreation, healthy lifestyle, economy, education
Colorado has a high quality of life and a high cost of living. It has some of the most beautiful land in the country but also some of the most expensive. However, it also offers many benefits, such as a strong economy, a well-educated population, and a healthy environment.
5. Arkansas
- Average price per acre: $11,596
- Cost of living index: 86.9
- Population: 3 million
Pros: Natural beauty, low taxes, low housing costs, friendly people
Arkansas is a state with a lot of natural resources and a lot of challenges. It has some of the lowest land prices and the lowest cost of living in the country but also some of the lowest incomes and rankings in education and health. It is a state with a lot of potential.
6. New York
- Average price per acre: $12,027
- Cost of living index: 139.1
- Population: 19.3 million
Pros: Cultural diversity, entertainment, education, economy, public transportation
New York is a state with a lot of contrasts and a lot of opportunities. It has some of the most expensive land and the highest cost of living in the country, but also some of the highest incomes and the most disposable income. It is a state with a lot of attractions.
7. Missouri
- Average price per acre: $14,078
- Cost of living index: 87.1
- Population: 6.1 million
Pros: Low taxes, low housing costs, diverse geography, history, culture
Missouri is a state with a lot of variety. It has some of the lowest land prices and the lowest cost of living in the country. It is a state with a lot of history and culture.
8. Oregon
- Average price per acre: $16,162
- Cost of living index: 113.1
- Population: 4.2 million
Pros: Scenic beauty, outdoor recreation, environmental awareness, progressive politics
Oregon is a state with a lot of appeal and a lot of risks. It has some of the most beautiful land in the country but also some of the most expensive. It also offers many benefits, such as a green lifestyle, a liberal culture, and a vibrant economy.
9. Alabama
- Average price per acre: $18,103
- Cost of living index: 82.3
- Population: 4.9 million
Pros: Low taxes, low housing costs, warm weather, hospitality, food
Alabama is a state with a lot of charm. It has some of the lowest land prices and the lowest cost of living in the country, and it is a state with a lot of tradition and pride.
10. Michigan
- Average price per acre: $18,333
- Cost of living index: 89.6
- Population: 10 million
Pros: Great Lakes, outdoor recreation, diverse economy, education, culture
Michigan is a state with a lot of potential and a lot of problems. It has some of the lowest land prices in the country but also some of the highest taxes. It also offers many advantages, such as a rich natural environment, a varied economic base, and a high-quality education system.
The Cheapest State to Buy Land
According to Wisevoter, Arizona is the cheapest state in the United States to buy land. As of 2023, Arizona’s median price per acre is only $4,164. This affordability is due to several factors:
- Diverse Landscapes: Arizona offers various landscapes, from deserts to mountains, providing multiple options for outdoor enthusiasts.
- Low Cost of Living: Arizona has a low cost of living compared to other states, making it an attractive option for buyers.
- Solar Potential: Arizona has abundant sunshine, which can be harnessed for solar energy, reducing electricity bills and environmental impact.
However, it’s important to consider the challenges, such as Arizona’s hot and dry climate and water scarcity.
The Most Expensive State to Buy Land
According to GOBankingRates, Rhode Island is the most expensive state in the United States to buy land. As of 2023, the median price per acre in Rhode Island is a staggering $93,294. This high cost is due to several factors:
- Limited Supply: Rhode Island is the smallest state in the U.S. by area, with only 677,120 acres of land (Congressional Research Service). This creates a high demand and low supply situation, increasing prices.
- High Income: Rhode Island has a high median household income of $71,169, above the national average of $62,843. This means buyers have more purchasing power and can pay more for land.
- Coastal Location: Rhode Island has over 400 miles of coastline, which is attractive for buyers who want to enjoy the ocean views and access. Coastal land is usually more expensive than inland land due to its desirability.
Average Land Prices in the U.S.
The average price of land in the United States varies greatly depending on location and intended use. The cost of one acre of land is around $17,500 on average.
However, the price can range from as low as $1,000 per acre in some places to over $100,000 per acre for commercial lots and agricultural properties. The price of land is influenced by several factors, such as location, intended use, and supply and demand.
How to Find Affordable Land for Your Needs
Land is a great investment option that offers low maintenance costs and high-value growth. However, finding the right land for your needs can be challenging. That’s why you need Mossy Oak Properties, the experts in land investment.
We can help you find the perfect land for your goals, whether you want to use it for farming, hunting, or relaxing. We have access to the best land deals across the United States, including states like Wyoming that offer affordable and beautiful land.
When choosing land, you must consider its location, potential, and future value. We can help you with that. We have the experience and knowledge to guide you through buying land.
Contact one of our Mossy Oak Properties offices today. We are here to make your land investment easy and rewarding.
