10 of the Cheapest Places to Buy Land in the U.S. (2024)

FAQs

Where in the US is land the cheapest? ›

Rural areas in the Midwest and South often offer lower costs of living, which is reflected in cheaper land prices. Additionally, land prices can vary based on its potential uses; for example, agricultural land typically has lower values than residential or commercial building sites.

Parts of Wyoming can have some very large ranches that seem relatively inexpensive compared to ranches in other areas and other states. This may be because the land is not as productive, is a long way from a major town, and may have limited water or other resources.

Cheaper Property Taxes

Plus, the state limits property tax increases with a valuation cap limiting annual appraised value increases to just 3%. This keeps taxes for homeowners in the state extremely low. With these low taxes, purchasing land in New Mexico is much more affordable than in any surrounding state.

'Cheapest' places to buy land in US (five acres)

Among the least expensive areas to buy five acres of land, Hudspeth County, Texas tops the report category with the lowest price for five acres of land listed at $1,200.

In its report, Niche also ranked the cheapest places to live in the U.S. At the top of the list this year is Brownsville, Texas. Brownsville has been steadily rising in Niche's Lowest Cost of Living ranking over the past few years, placing number six in 2021, number three in 2022 and finally, number one in 2023.

If you want to find free land, then the top states that offer free land include Kansas, Minnesota, and Nebraska. Some restrictions typically apply, such as building a home within a certain time frame or using the land for agricultural purposes.

Buying cheap land in Wyoming

The 28 matching properties for sale in Wyoming have an average listing price of $63,782 and price per acre of $1,977. For more nearby real estate, explore land for sale in Wyoming.

Wyoming has the lowest average cost of living among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, Idaho, and Montana. It also ranks among the top 20 most affordable states in the nation, according to MERIC data collected in 2022.

The average price per acre of rural land in Texas was more than $4,000 per acre in 2022, according to the Texas Real Estate Research Center. That average climbed each quarter: $4,116/acre average in Q1 of 2022. $4,297/acre average in Q2.

Matt Frankel, CFP and mortgage analyst for The Motley Fool, said the reason Oklahoma housing is cheap is due to a combination of factors, including a large amount of developable, flat land. “The real estate market is supply and demand, so that takes care of the supply.

Why is land so cheap in NY? ›

It is a cheap real estate market, for starters, and land values aren't as high as they are in many other states. New York is also a major agricultural producer, meaning many of the properties you'll find for sale can be monetized. It is an area with many unexplored options that buyers can take advantage of.

The factors supporting the land market remained constant during this time, which included historically low interest rates, a lower supply of land for sale and adequate demand for good cropland about everywhere. The demand for land is the driver of the current land price surge.

Texas. Texas tops the list of states offering cheap farmland. With its lengthy hot seasons and mild winters, the Lone Star State is especially ideal for growing cotton. The state is also a big beef cattle producer, so the price per acre may be lower due to the high demand for grazing land.

The cheapest places to live have a low cost of living in a number of areas, including housing, groceries and transportation. Mississippi has the overall lowest cost of living of any state. Kalamazoo, Michigan, has the lowest cost of living for any city in the U.S.

In the US, if no one specifically owns land it owned by the state or federal government by default so there is no unowned in the US. Government owned land that is not designated for a specific purpose is called the 'public domain' and at the federal level is managed by the Bureau of Land Management.

Arizona. A desert climate will be a challenge, but not an impossibility, for growing your own crops and farming the land. It's one of the cheapest (if not the cheapest) of all 50 states to buy land in, but you'll need to check whether the specific location you might have in mind actually allows for homestead building.

How much land in the US is unused? ›

That's just short of 44% of the total number of blocks. Those empty blocks add up to 4.61 million square km (1.78 million sq. mi), which corresponds to just under 47% of the total area of the United States.

See it: Largest land offering in California—50,000 acres in Bay Area— hits market at $72 million. A massive, unspoiled property in the Bay Area that stretches over 50,500 acres has hit the market for $72 million.

Dollar per acre sales price for properties with 640+ acres in western Montana have been steadily increasing over the last 30 years, with an average dollar/acre value of $1,255 (1990-2020). Dollar per acre sales in western Montana reached a new high in 2021 at $2,115/acre.

Tax on Out-of-State Retirement Income

There is no income tax, and sales taxes are low. Thanks to abundant revenues that the state collects from oil and mineral rights, Wyoming residents shoulder one of the lowest tax burdens in the US, according to the Tax Foundation.

The average household income in Laramie is close to $40,000. But Laramie does offer quality of life amenities that make this small town of 30,000 an affordable and attractive place to live. For one thing, Laramie residents pay less for food and utilities than most people in America.

“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” Gilliland said in a news release. The vigorous demand sent the statewide price 9.5 percent higher than 2020 prices to a record high at $3,251 per acre, he said.

Overall, buying land in Texas as an investment can be a safe and practical choice for new and seasoned investors. It is an excellent way to get into real estate investment, as the costs to get started are very low compared to other types of investments.

No Income Tax in Texas

The lack of an income tax in the state also reduces the costs of Texas housing. The constitution in Texas does not allow payment of an income tax. The state relies on a high sales tax and higher property taxes instead.

Can you claim land in Oklahoma? ›

In order to claim legal title under Oklahoma adverse possession law, an individual must occupy the property for at least 15 years, while the rightful landowner has two years to challenge the adverse occupation.

Land can be expensive to trade into and out of. There's real estate agent commissions, surveys, title insurance premiums, transaction taxes, etc. and all of these costs (those that you pay when you buy land and those that you pay when you sell it) reduce your profit.

Under Oklahoma's homestead law, property owners may exempt up to 1 acre of property in an urban area or 160 acres if it is rural (to help protect farms). It may be in more than one parcel.

Over the last 20 years, the price of farmland per acre in new york has risen by an average of 4.6% per year to $2,800 per acre as of 2019.

Upstate New York is home to several cities with a low cost of living. Low housing costs are the primary factor in determining which cities are the most affordable, since housing is most people's largest expense.

Property taxes are based on the value of real property

Real property (commonly known as "real estate") is land and any permanent structures on it. Without accounting for exemptions, properties of equal value in the same community should pay the same amount in property taxes.

Over 1 million acres of Oklahoma farmland are currently owned by foreign entities, and nations like China are, according to Lankford, "100%" using the land for drug production.

The Drummond family is the largest landowner in Oklahoma and the 23rd-largest landowner in the United States.

Statewide, an average acre of Tennessee land is worth $14,400, but it's all about location. The average sales amount for a 251,911 square foot lot in one of Unicoi County's prime locations is $59,408, according to FindAnyAnswer.com. Tennessee's $14,400 per acre average cost compares to $12,100 in the lower 48 states.

Where is the best place to homestead in the US? ›

Farm Real Estate Average Value Per Acre: $6,600 up by 9.6% from 2021. Cropland Average Value Per Acre: $7,960 up by 9% from 2021. Irrigated Cropland Average Value Per Acre: $9,100 up by 9% from 2021. Non-Irrigated Cropland Average Value Per Acre: $6,900 up by 9.2% from 2021.

The United States cropland value averaged $4,420 per acre, an increase of $320 per acre (7.8 percent) from the previous year. The United States pasture value averaged $1,480 per acre, an increase of $80 per acre (5.7 percent) from 2020.

The average price per acre of rural land in Texas was more than $4,000 per acre in 2022, according to the Texas Real Estate Research Center. That average climbed each quarter: $4,116/acre average in Q1 of 2022. $4,297/acre average in Q2.

Another con is the cost of purchasing land in Georgia. The state is one of the most expensive in the country, with an average price per acre of $4,000 upwards to $8,000.

In Alabama, cash rent for cropland averaged $66.50 per acre, a decrease of $1.50 from last year. Cash rent for cropland in Florida decreased $5 to $127 per acre. Georgia cash rent for cropland was up $9 for 2021 at $135 per acre.

No state actually gives out free land, but there are cities that are offering free land. Most of these cities are located in the following states: Kansas, Nebraska, Minnesota, Colorado, Iowa and Texas.

“Alaska is the best state to settle in if you want complete isolation and don't mind the long winter months. The upside is that the land is cheap, but you'll pay for it with a short growing season. Another benefit is that Alaska has the lowest taxes in the United States.

Generally speaking, buying land in Florida can be an excellent idea, but if the land is designated as a wetland or in a flood zone, it can turn out to be the worst idea imaginable. As shown above, managing land in a flood zone or building on wetland can—and will—require a lot of special permits, time, and money.

How much is an acre in football fields? ›

1 football field is roughly 1 acre. (The exact measurements of football fields vary.) 1 hectare = 2.47 acres. 2.47 football fields in 1 hectare.

To visualize an acre, compare it to sizes you're familiar with. An acre has 43,560 square feet, which is about 90% of a football field (minus the end zones) or nine professional basketball courts. If you want to visualize an acre as a square, that's about 208 feet by 208 feet.

Is it a good investment? Yes. Land is a tangible investment that will continue to go up in value over time. So, if a buyer purchases land today for $250,000, then in a few years, its value can increase to $400,000.

The land is always a profitable investment as you can make money off it quickly. You can either sell your land, use it to grow crops, use the land as boat storage, or lease it out. The highest and best use of land is an imperative factor that determines the value of your land.