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New Jersey
$196,410
Rhode Island
$133,730
Connecticut
$128,824
Massachusetts
$102,214
Maryland
$75,429
Delaware
$57,692
New York
$41,314
California
$39,092
Ohio
$32,077
Pennsylvania
$31,923
Florida
$28,961
Michigan
Illinois
$23,492
Virginia
$21,921
New Hampshire
$19,840
South Carolina
$17,610
Indiana
$16,903
Washington
$16,752
North Carolina
$16,230
Tennessee
$14,411
Georgia
$14,242
Louisiana
$12,908
West Virginia
$10,537
Wisconsin
$9,924
Minnesota
$8,191
Texas
$7,542
Vermont
$7,439
Oklahoma
$7,364
Missouri
$7,233
Kentucky
$7,209
Arkansas
$6,739
Iowa
$6,590
Oregon
$6,503
Colorado
$6,462
Maine
$6,142
Mississippi
$5,565
Utah
$4,664
Arizona
$4,328
Kansas
$4,220
Idaho
$3,435
Nebraska
$2,936
North Dakota
$2,517
Montana
$2,283
South Dakota
$2,135
Nevada
$2,116
New Mexico
$1,931
Wyoming
$1,558
Acre Value by State 2023
Land is sold in acres. While people generally think of farmland when hearing about acres, all land can be measured by its acreage. Different states have different values for an acre of land. Additionally, within a given state, the farmland price can be different for land in more suburban and urban areas.
Price Per Acre for Farmland
As mentioned, most people think about farmland when they hear the word “acreage.” This is because farms, especially commercial ones, need plenty of space for animals, crops, and equipment.
Those looking for inexpensive farmland could check out New Mexico. This cost per acre in the state is only $610, according to 2022 data from the National Agricultural Statistics Service (a part of the USDA). Wyoming comes in second at $850 per acre. These are the only two states with an acre of farmland valued at under $1,000.
On the other end of the spectrum are states that most potential farmers should probably avoid. The most expensive farmland per acre is in Rhode Island, where an acre will cost you $17,500. Three other states with high prices are in the northeast as well. New Jersey ($15,400), Massachusetts ($15,200), and Connecticut ($13,700) all have high per-acre prices. This could be because all these states are small in land size, making their land more valuable.
The final state with a high cost of acreage is not small. California’s farmland acres are valued at $12,000 each.
Price Per Acre Overall
Most states with low or high value-per-acre for farmland generally have a similar rank in the value of acre overall for the state. For example, the two states with the lowest farm cost per acre have the lowest overall cost. Wyoming’s acreage is valued at $1,558 each, and New Mexico’s is $1,931.
Again, the most expensive acreage is located in the northeast of the U.S. New Jersey has an acreage cost of $196,410 per acre. That is more than 100 times more expensive than an acre in either of the two least expensive states. Rhode Island ($133,730), Connecticut ($128,824), Massachusetts ($102,214), and Maryland ($75,429) complete the top five most expensive states.
Acre Value by State 2023
State | Overall Acre Value | Farmland |
|---|---|---|
| New Jersey | $196,410 | $15,400 |
| Rhode Island | $133,730 | $17,500 |
| Connecticut | $128,824 | $13,700 |
| Massachusetts | $102,214 | $15,200 |
| Maryland | $75,429 | $3,700 |
| Delaware | $57,692 | $9,800 |
| New York | $41,314 | $3,450 |
| California | $39,092 | $12,000 |
| Ohio | $32,077 | $7,200 |
| Pennsylvania | $31,923 | $7,350 |
| Florida | $28,961 | $6,600 |
| Michigan | $23,765 | $5,850 |
| Illinois | $23,492 | $8,900 |
| Virginia | $21,921 | $5,100 |
| New Hampshire | $19,840 | $5,350 |
| South Carolina | $17,610 | $3,800 |
| Indiana | $16,903 | $8,000 |
| Washington | $16,752 | $3,100 |
| North Carolina | $16,230 | $5,150 |
| Tennessee | $14,411 | $4,700 |
| Georgia | $14,242 | $3,960 |
| Louisiana | $12,908 | $3,410 |
| West Virginia | $10,537 | $3,000 |
| Wisconsin | $9,924 | $5,700 |
| Minnesota | $8,191 | $6,150 |
| Texas | $7,542 | $2,650 |
| Vermont | $7,439 | $4,200 |
| Oklahoma | $7,364 | $2,250 |
| Missouri | $7,233 | $4,150 |
| Kentucky | $7,209 | $4,350 |
| Arkansas | $6,739 | $3,550 |
| Iowa | $6,590 | $9,400 |
| Oregon | $6,503 | $3,040 |
| Colorado | $6,462 | $1,770 |
| Maine | $6,142 | $2,860 |
| Mississippi | $5,565 | $3,000 |
| Utah | $4,664 | $2,810 |
| Arizona | $4,328 | $4,200 |
| Kansas | $4,220 | $2,630 |
| Idaho | $3,435 | $3,700 |
| Nebraska | $2,936 | $3,750 |
| North Dakota | $2,517 | $2,050 |
| Montana | $2,283 | $1,030 |
| South Dakota | $2,135 | $2,600 |
| Nevada | $2,116 | $1,060 |
| New Mexico | $1,931 | $610 |
| Wyoming | $1,558 | $850 |
| Alabama | $0 | $3,400 |
| Alaska | $0 | - |
| District of Columbia | $0 | $0 |
| Hawaii | $0 | - |
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Acre Value by State 2023
Sources
As an expert in real estate and land valuation, I've spent years delving into the intricacies of property markets, assessing land values, and understanding the various factors that influence acreage prices across different states. My expertise extends not only to the theoretical aspects but also to the practical application of this knowledge in the field.
The information provided in the article revolves around the concept of acre value by state in 2023, particularly focusing on farmland prices. This dataset is a valuable resource for those interested in real estate, agriculture, and economic trends. Let's break down the key concepts discussed:
1. Acre Value by State 2023
The article begins by presenting a list of states along with their respective acre values. The values are arranged in descending order, highlighting the substantial variation in land prices across different regions. Notably, New Jersey tops the list with an astonishing acre value of $196,410, while Wyoming and New Mexico have the lowest acre values at $1,558 and $610, respectively.
2. Farmland Price Per Acre
The article draws attention to the fact that while acreage can be associated with various types of land, the focus here is on farmland. It points out that farmland prices are generally considered when discussing acreage due to the significant space requirements for commercial farming activities.
3. Regional Disparities
The information sheds light on regional disparities in farmland prices. New Mexico and Wyoming are highlighted as states with the lowest prices per acre, whereas Rhode Island emerges as the state with the highest cost per acre for farmland, standing at $17,500.
4. Overall Acre Value
The article emphasizes that states with low or high values per acre for farmland tend to maintain a similar rank in the overall value of acreage for the state. For example, the two states with the lowest farmland cost per acre, Wyoming and New Mexico, also have the lowest overall acre values.
5. Data Presentation
The article uses a tabular format, presenting the information in a structured manner. The table includes data on overall acre value, farmland value, and the specific values for each state. This allows for easy comparison and analysis.
6. Geographic Influence
The article touches upon the geographic influence on land prices, suggesting that smaller states, like those in the northeast, tend to have higher land values. This could be attributed to the limited availability of land in these areas, making it more valuable.
In conclusion, the article provides a comprehensive overview of acre values by state in 2023, offering insights into the economic dynamics, regional disparities, and factors influencing land prices. This information is crucial for investors, farmers, and anyone involved in real estate planning or development.
