States with the Cheapest Land 2023 - Wisevoter (2024)

FAQs

What US state has the cheapest land? ›

InMyArea.com performed a study that took a look at the median prices per acre in 2021 and found that Arizona had the cheapest median cost per acre, at $4,164. The data includes the price of land with existing homes and the cost of land designated as a homesite was also included so that you can have some comparison.

Lowest price per 5 acres: $6,500

So for both 1 acre and 5 acre plots, the cheapest states to buy land in 2023 are New Mexico, Arizona, Mississippi, followed by Colorado and California. Some great news for you here is that at Compass Land USA, we do a lot of work in Colorado, and Arizona.

New Mexico is one of the prime locations for a cheap land purchase. It's home to some of the most affordable lands in the US, with prices ranging from as low as $200 per acre up to several thousand dollars.

That's why we compiled this list of the best states for homesteading and off grid living. The 12 best homestead states are Colorado, Tennessee, Arizona, Alaska, Michigan, Idaho, Maine, Oregon, Montana, Connecticut, West Virginia, and Missouri.

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.

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.

What areas in US have free land for sale? ›

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.

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.

The 2022 Land Report 100, compiled each year by The Land Report magazine, released its annual list of landowners who own the most acres in the United States. The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres.

The state with the highest percentage of land held by the federal government is Nevada (80.1%); the states with the lowest percentage of land held by the federal government are Connecticut and Iowa (0.3%).

In general, you'll likely find it cheaper overall to buy an existing home, but that also depends on the market. A home loan is less risky than a land loan, and typically comes with a lower down payment and better interest rate.

Is buying land a good investment? In most cases, the answer is yes – as long as you're properly prepared. Investing in undeveloped land, however, isn't quite as simple as putting money down on a duplex. To ensure you're making an informed decision, we've outlined our top seven tips to know before purchasing land.

If you live in the US, New Mexico is probably the cheapest place to live off the grid. This location has an average of under $2,000 per acre of farmland, which makes it one of the states with the cheapest land in the country. And if that's not enough, the cost of living is generally low in this state.

In a measure of land affordability Montana, Wyoming, New Mexico, Oklahoma and North Dakota ranked highest.

Washington state has the highest quality of life in all 50 states. The state has no income tax, a thriving job market, and great international business opportunities.

What is the smartest way to buy land? ›

One of the best strategies is to pay cash, because lenders consider vacant land a riskier investment than a house that's already built, and charge more to finance it as a result. If you plan to pay in cash, you'll want to budget for both the land and additional expenses like property taxes and utility installation.

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.

Cold, Rain, and Snow Are Best For Purchasing Land

Colder months are the best time to buy a piece of land, which holds for both developed and raw land. With the holiday season and hunting, plus winter, there's less competition as properties listed have been on sale for months since the spring boom.

There is plenty of publically-held land owned by the federal government or states. However, there is no land in the US that does not have a designated owner.

Best State to Live Off Grid: Hawaii

The best state to live off-grid for those seeking warm and temperate climates is Hawaii. While the Aloha state does get its fair share of rainfall, there are no rain harvesting restrictions, so you won't be short of water.

Alaska and Hawaii. Alaska has extreme weather conditions, especially winters, and does not offer homesteading programs. In 2021, lawnstarter.com ranked Alaska as the worst state to start a farm, with a lower rank on returns on investments. Hawaii's cost of living and the value of land is very high.

Mississippi is the state with the lowest cost of living in the US, with a cost of living index of 85. This means that the cost of living in Mississippi is 15% lower than the national average. The state has a low cost of housing, groceries, and utilities.

Albuquerque, New Mexico, ranks as the most affordable city in the country for single renters. Studio apartments in Albuquerque go for a median price of $700, and the average single person would only need to spend 15.33% of their income to afford one.

Hawaii is the most expensive state to live in, with a cost of living index of 184. Massachusetts is ranked second, with a cost of living index of 149.7, followed by California at 137.6, and New York at 134.5.

The best states for farmland in the US include Montana, Kansas, Oklahoma, South Dakota, North Dakota, Texas, Iowa, Kentucky, Wyoming, and California. Consider factors like profitability, cost of operation, infrastructure, and availability when selecting a location.

What state has the highest farm income? ›

The top 10 agriculture-producing States in terms of cash receipts in calendar year 2021 were (in descending order): California, Iowa, Nebraska, Texas, Minnesota, Illinois, Kansas, Indiana, North Carolina, and Wisconsin.

California ranks first in the U.S. for agricultural cash receipts followed by Iowa, Texas, Nebraska and Illinois.

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.

"Elon Musk, Move Twitter to Schwertner, TX. 38 Miles North of Austin in Williamson County, and we will give you 100 Acres for FREE," said Jim Schwertner, the CEO and President of Capitol Land & Livestock, on Twitter Tuesday.

The 27 matching properties for sale in Wyoming have an average listing price of $63,733 and price per acre of $1,924. 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.

They require about 25-30% as a down payment. We recommend talking to a local realtor or lender first thing to understand your financing options prior to starting your search. Doing your due diligence will reduce any risk in buying rural vacant land and lead you to making sure this lot is the right property for you.

Who is the largest landowner in Wyoming? ›

The United States Government. The largest landowner in Wyoming is the federal government, owning around 30 million acres of land. This includes national parks, forests, wildlife refuges, and military bases.

Approximately 27.1% of land in Florida is owned by the federal government, leaving 72.9% of Florida's land to private ownership. The Bureau of Land Management oversees the largest portion of federally owned land in Florida at 39.7%.

King Ranch, largest ranch in the United States, composed of a group of four tracts of land in southeastern Texas, totaling approximately 825,000 acres (333,800 hectares). The King Ranch was established by Richard King, a steamboat captain born in 1825 in Orange county, New York.

John Malone is the largest private landowner in the United States. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999.

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 best states for farmland in the US include Montana, Kansas, Oklahoma, South Dakota, North Dakota, Texas, Iowa, Kentucky, Wyoming, and California. Consider factors like profitability, cost of operation, infrastructure, and availability when selecting a location.

Is there any unclaimed land on earth? ›

The largest unclaimed territory on Earth is in Antarctica. Marie Byrd Land, a 620,000-square-mile collection of glaciers and rock formations, lies in the western portion of the southernmost continent. Because of its remoteness, no nation has ever claimed it.

Some of the top states for year-round farming that offers to grow a variety of crops include Florida, California, Texas, Arizona, Georgia, Alabama, Louisiana, South Carolina, Mississippi, New Mexico, Hawaii, Washington, and Oregon.