Land prices across the United States vary from state to state. And of course, investing in land is something that everyone who wants to invest his savings or multiply his assets thinks about. Real estate is a difficult market to be in, especially if you do not have much experience purchasing and selling land or property. The generic trick here is to find a land or property that currently has low value or is cheap but has high upside potential or it has a significant chance to become more valuable in the future if not a gold mine.
Cheap real estate is difficult to find, especially if it has the upside potential of growth in the future. But there are plenty of options you can look for in the United States. As we mentioned earlier, land prices across the U.S. vary significantly, and like all commodities, their price is a function of demand and supply. Again, the trick here is to invest in land that has low demand but has the potential to have a high demand in the near or long-term future. Below are some states that have cheap land prices but before you get all excited, forecasting the property’s future value is totally on you. So, you might want to talk to a consultant or an expert in the field before investing.
- Montana, Wyoming, Nevada, South Dakota, New Mexico – All these states have an average price per acre of $2,000. To have a comparison, the price per acre in New Jersey is about $200,000. You definitely have an opportunity on your hands to invest in something that’s a hundred times cheaper
- If your budget is slightly higher, you could invest in land in North Dakota, Idaho, Nebraska, where on average the price per acre is about $3,000. On the other hand, in Kansas and Arizona, it is just about $4,000 an acre. Of course, your buying decision would be based on the kind of land suitable for your needs. For example, if you need land for farming, the former states would be great due to their very low populations and availability of plenty of lands. On the other hand, if you’re more focused on real estate, places like Arizona could hit you with that profit you are looking for.
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