US Farmland Prices To Soar: 10 Biggest Owners and Cheapest & Most Expensive Places to Buy
|Buy Land in the U.S: Top Places and States with the Cheapest Land|
Unlike buying a home in the USA, land is a blank canvas waiting for your creative ideas on what you’ll do with it. The prospect of buying land for sale is exciting and loaded with potential.
Farmland Prices To Soar in the USA
After a calm period in January 2022 in which the land market remained steady, sales prices took another jump as a result of the outbreak of war in Ukraine and ongoing inflation fears. Farmers saw stronger commodity prices and investors wanted a low-risk inflation hedging investment.
Good land that was selling for around $16,000 last fall sold for $19,000 to $21,500 per acre at company auctions in March. This increase in prices is on top of a 15% to 30% jump in value across most Grain Belt states in 2022.
Individual investors also stepped into the market as they looked at farmland as a safe, long-term inflation hedging investment. This combined heightened demand propelled land prices higher in 2022 and 2023.
♦ Farmland prices continue to soar, as a new record Iowa land sale occurred in Dubuque County, Iowa in July, 2022 with High Point Land Company auctioning off 60 acres for $30,000 per acre.
♦ Land sales continue to set records. In July, a farm in Plymouth County, Iowa sold for $25,000 per acre.
Top 5 Sales in Plymouth County:
→ 5/27/22: $25,000 per acre, 96.33 acres
→ 2/25/22: $20,075 per acre, 125.57 acres
→ 12/27/21: $19,100 per acre, 77 acres
→ 11/18/21: $18,600 per acre, 80 acres
→ 11/18/21: $17,800 per acre, 120 acres
|The stronger land prices of late 2021 continued higher through the first half of 2022. (Farm Journal)|
What state has the cheapest land?
New Mexico is the state with the cheapest land according to our land prices per acre page. This is largely due to the fact that it has a lot of of rural desert acreage.
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10 Largest Private Farmland Owners in the US Today
The US Department of Agriculture estimates that about 30 percent of US farmland is rented out by owners who serve as landlords and aren’t involved in farming, like Bill Gates.
The National Farmers Union has suggested that the growing number of non-farmer owners like Gates buying up farmland — and renting it out — could lead to practices that hurt the environment.
Gates and other wealthy buyers of farmland have also been criticized for contributing to the concentration of land ownership. Because they can usually make higher bids than what local farmers can afford, fewer people end up owning their own farmland.
Gates himself made a point to differentiate his climate advocacy and his investments. In a Reddit AMA in March, the billionaire seemed to try to separate his climate advocacy and his personal investments when asked about his wealth of land. “My investment group chose to do this. It is not connected to climate. The agriculture sector is important,” he said.
As of 2022, Gates sits on the farmland list among other celebrities mixed with a few farmers:
|Bill Gates now holds the title of a cool 270,000 acres of land across the U.S.|
Amassed with a newly purchased 2,100-acre farm in North Dakota, Bill Gates’ Red River Trust now holds the title of a cool 270,000 acres of land across the U.S.
Founder of CNN who owns over 200,00 acres in Nebraska, Kansas, Montana, South Dakota and New Mexico.
3.Stewart and Lynda Resnick
Owners of Wonderful. The two boast 192,000 acres in California and Texas.
Owners of RDO Equipment, also own 190,000 acres in North Dakota, where they primarily grow potatoes.
Florida Crystals Corp. owners tend 152,000 acres of sugarcane production in South Florida.
Owners of the JG Bowell Tomato Company that tend to 150,000 acres of tomatoes and cotton in Central California.
Real estate mogul and owner of Kroenke Sports & Entertainment who owns 124,000 acres in Montana.
8.Gaylon Lawrence Jr
CEO of the Lawrence Group who owns 115,000 acres from the Pacific to the Atlantic.
Founder of TCI—a company he later sold to AT&T for a cool $50 billion—hosts 100,000 acres in Colorado, Wyoming, Maine and New Mexico—land thatincludes various well-known ranches.
Operate 82,500 acres in Idaho and Washington including potato production and cattle feedlots.
Top States to Buy the Cheapest Land in the U.S
There are plenty of places to buy cheap land in America.
Although New Mexico’s geography is surprisingly diverse and includes forested mountains, fertile valleys, and grasslands, much of the state is made up of desert land.
The Chihuahuan Desert runs through the southern part of the state and you can find land for sale in Deming for instance for under $200 per acre. Outside Bosque, there are times when you’ll see land for sale for $100 per acre.
Similar to New Mexico, Nevada made the list due to the fact that it’s home to a large amount of remote desert land. Northern Nevada is located in the Great Basin. This is a desert area with hot summer temperatures and cold winter temperatures. In areas outside of cities like Wells, Lovelock, and Winnemucca, you can find cheap land for sale in Nevada in the $100-$200 per acre range.
Another place to buy cheap land is in the Arizona desert. Although parts of Arizona include forests, canyons, and even snow skiing resorts, much of southern and western Arizona is arid desert land. It’s known for having extremely hot summers, mild winters, and is home to plants such as the cactus.
Although you can find cheap land for sale in Arizona throughout the state, you’ll want to start by looking west and south. Right outside cities like Wikieup, Kingman, Meadview, and Bullhead City in western Arizona you can often find land for sale in the $250-$500 per acre range.
In southern areas around Douglas, Hereford, Bisbee, and McNeal, you can find properties for $400-$600 per acre.
It’s located in the New England region of the United States and is known for its jagged coastline and heavily forested timberland. It’s the most northeastern U.S. state and one of the least densely populated.
If you’re looking for cheap land for sale in Maine, a good place to start is the eastern portion of the state, specifically the Northeast. In northeastern towns like Van Buren, Connor Township, and Castle Hill you can find remote properties sometimes as low as $450-$800 per acre. In certain eastern towns like Amity, Cary, Dyer Brook, and Linneus you may see land tracts for $400-700 per acre.
Michigan is home to some cheap land for the same reason as Maine. It’s essentially 2 large peninsulas—the Lower Peninsula and the Upper Peninsula.
If you’re searching for cheap land for sale in Michigan, check out the Upper Peninsula. You’ll see land prices that range as low as $250-$600 per acre.
In the desert land of the East and especially the Southeast around cities like Kim, Campo, Eads, and Hasty, you can find land for sale for $680-$1,000 per acre. In the West, you’ll find some desert-like conditions mixed with mountainous terrain. Here you’ll see land on the market in the range of $500-900 per acre at times.
Down South in places such as Walsenburg, Del Norte, and Moffat, prices can be as low as $750-$1,000 per acre. Even in the central part of the state in sites like Yoder you may find parcels for sale for under $1,000 per acre.
Many people think of desert land when they think of Texas. But actually, less than 10% of land in Texas is considered desert. It’s home to a variety of landscapes including coastline, forests, and grasslands.
If you’re shopping for cheap land for sale in Texas, almost the entire western portion of Texas along the western New Mexico and southern Mexican border is desert. For example, in western areas like Sierra Blanca and Monahans you can find land for $350-$600 per acre in certain cases. Towards the Mexican border in the South around cities such as Dryden and Sanderson, you’ll see land prices as low as $350-$500 per acre.
Oregon is one of the United States’ most geographically diverse states.
Around cities like Adel, Plush, and Bonanza, you can find land for sale in the $250-$650 per acre range. As you move north a bit to places like Christmas Valley, Summer Lake, Brothers, and then to Service Creek, you’ll see some land prices as low as $300-$700 per acre.
Utah is very diverse when it comes to geography. Most of the population is found in the Wasatch Front running down the center of the state. A large amount of the state is made up of rugged terrain, arid deserts, and other challenging landscapes. Because of this, you can find cheap land for sale in Utah in many parts of the state, especially the extremes.
In the Northwest in areas like Grouse Creek, you can sometimes find parcels for sale for as low as $150 per acre. At times, in central Oregon, parcels come on the market for $350-$750 per acre outside cities such as Delta and Fillmore. In the South, you can find land in areas like Beryl for $375-$600 per acre.
Cheapest Places in USA to Buy One Acre of Land - Updated
These locations are some of the least expensive places in the country to buy one acre of land:
Jasper County, Mississippi
Location: Southeast part of Mississippi, about 49 miles east of Jackson
Total square miles: 676
Lowest price for one acre of land: $1,251
Luna County, New Mexico
Location: Southwest part of the state, about 37 miles west of Las Cruces
Total square miles: 2,965 (Note: 30 acres belong to the Fort Sill Apache Tribe)
Lowest price for one acre of land: $1,450
Polk County, Florida
Location: Central Florida
Total square miles: 1,798
Lowest price for one acre of land: $1,599
Torrance County, New Mexico
Location: Center of the state, about 40 miles east of Albuquerque
Total square miles: 3,345
Lowest price for one acre of land: $1,750
Cheapest Places in the United States to buy 5 Acres of Land - Updated
Here are some of the least expensive places to purchase five acres of land in the country:
Hudspeth County, Texas
Location: Westernmost corner of the state, about 29 miles east of El Paso
Total square miles: 4,571
Lowest price per five acres of land: $1,200
Costilla County, Colorado
Location: Southwest part of the state, about 15 miles east of Alamosa
Total square miles: 1,227 (Note: There are 633 acres of communal grazing land in the county)
Lowest price per five acres of land: $2,495
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