3 min Read
By John Csiszar
The skyrocketing prices of homes have dominated real estate headlines in recent years and with good reason. But raw land isn’t exactly cheap either, particularly in certain corners of the country. According to data from landsearch.com, land commands an average price of $17,474 per acre in the United States. But in the country’s most expensive state, land costs more than five times the average amount, coming in at a whopping $93,294 per acre.
Per-acre costs aren’t everything, however. Hawaii, for example, only has the country’s fourth-most expensive land on a per-acre basis. But in terms of the cost of a lot for sale, Hawaii tops the list with an incredible average price of $983,707. This is in comparison to the U.S. average of just $316,606. By and large, the data shows that the most expensive land in the U.S. is in coastal areas and/or the Northeast corridor, with a few exceptions.
To determine which states in the U.S. have the most expensive land, GOBankingRates used data from landsearch.com listing each state’s total acreage for sale, average price per acre and average listed lot price. States are ranked here in reverse order by price per acre, with the most expensive appearing last.
10. Connecticut
- Average per acre price: $33,605
- Acreage: 9,616
- Average price: $444,490
9. Utah
- Average per acre price: $35,943
- Acreage: 45,616
- Average price: $678,637
8. Maryland
- Average per acre price: $36,286
- Acreage: 17,215
- Average price: $365,733
7. Illinois
- Average per acre price: $39,486
- Acreage: 29,441
- Average price: $231,435
6. Massachusetts
- Average per acre price: $46,092
- Acreage: 4,599
- Average price: $454,884
5. Florida
- Average per acre price: $67,384
- Acreage: 128,088
- Average price: $271,289
4. Hawaii
- Average per acre price: $75,456
- Acreage: 8,839
- Average price: $983,707
3. Delaware
- Average per acre price: $83,115
- Acreage: 2,451
- Average price: $640,609
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2. New Jersey
- Average per acre price: $88,306
- Acreage: 10,647
- Average price: $555,668
1. Rhode Island
- Average per acre price: $93,294
- Acreage: 872
- Average price: $645,652
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Costs and acreage are accurate as of May 18, 2023.
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- Investment Insights:
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