When deciding on the best location to buy land in US for investment, it’s important to consider your specific goals and priorities.
Several factors influence choosing a state for land purchase: land availability and cost, local economy and job market, tax rates, quality of schools and amenities, and climate.
Here is some information about each of the states that might be helpful as you consider your options:
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Oregon
Oregon is renowned for its diverse landscape, encompassing coastal areas, mountains, forests, and fertile farmlands. The state boasts a robust and varied economy, with a blend of agriculture, manufacturing, and service industries. Although the cost of living in Oregon is higher than the national average, it is still lower than in some other parts of the country and is considered as the best place to buy land.
Land for sale in Oregon starts from agricultural farmland to metropolitan areas with easily accessible conveniences and necessities.
The state’s average price for land is $6,503 per acre.
Arizona
Arizona is known for its diverse landscapes, which include desert, mountain, and grassland regions. The state has a robust economy driven by tourism, manufacturing, and technology. Arizona offers a lower cost of living compared to the national average, making it an attractive destination to buy land.
The average price for land in the state is $4,328 per acre.
Florida
There are none of the other options when it comes to buying land in Florida, as it is considered one of the best states to buy land in US.
With its warm climate and stunning beaches, Florida offers a quality of life that is unrivaled. The state boasts a robust economy, largely fueled by tourism, real estate, and agriculture. While the cost of living in Florida tends to be higher than the national average, particularly in urban areas, the state’s average price for land stands at $28,961 per acre.
Utah
Utah is a great state for buying land due to its diverse landscape, including mountains, forests, and arid desert regions. The state has a strong and diverse economy, with a mix of agriculture, manufacturing, and service industries.
The state’s economy is strong and diverse, with a mix of agriculture, manufacturing, and service industries. The cost of living in Utah is lower than the national average, which makes it best states to buy land in US and an attractive place.
The state’s average price for land is $4,664 per acre.
Texas
Texas, the second-largest state in the United States, offers a wide variety of land types, from expansive ranches to fertile farmland. Its economy is robust, driven by industries such as oil and gas, agriculture, and manufacturing. With a cost of living below the national average, Texas is an appealing location to buy land.
The average price for land in the state is $7,542 per acre, making it best places to buy land for prospective buyers.
Nevada
Nevada is renowned for its desert landscape and vibrant tourism industry. The state’s economy thrives on gaming, tourism, and mining. The cost of living in Nevada is generally lower than the national average, making it a profitable place to buy land.
The land for sale in Nevada is mostly for rural areas and commercial patches.
The state’s average price for land is $2,116 per acre.
Idaho
Idaho is renowned for its natural beauty and outdoor recreational opportunities. The state boasts a strong and diverse economy, with a mix of agriculture, manufacturing, and service industries. The cost of living in Idaho is generally lower than the national average, making it an affordable place to buy land.
If you’re looking for the perfect location to buy farmland and build a home, Idaho is an ideal state to consider. Land for sale in Idaho typically comes with low taxes and affordable prices, this is why it is also considered as one of the best states to buy land in US with the state’s average price for land being $3,435 per acre.
Kentucky
Kentucky, a picturesque state in the southeastern region of the US, is celebrated for its breathtaking rolling hills and expansive forests that paint the landscape in vibrant hues. The state is also famous for its thriving bourbon industry, adding to its rich cultural tapestry and best state to own land. Kentucky’s economy is robust and varied, encompassing a blend of agriculture, manufacturing, and service sectors.
The cost of living is notably lower than the national average, making it an attractive and affordable location for purchasing land.
On average, the price for land in the state is $7,209 per acre, offering a promising opportunity for investment and development.
New Mexico
New Mexico ranks as the fifth largest country among the fifty States in terms of land area. The country also witnesses a varied climate as New Mexico’s topography ranges from forested mountains to rocky deserts. Coming to the real estate industry here, New Mexico is home to ample amounts of public land which one can purchase at cheap prices. This is because more than 48% of land in New Mexico is owned by the Federal Government.
This makes New Mexico one of the best places to buy land in USA in 2024. The average price for land per acre in New Mexico is $1420 approximately.
Missouri
Missouri is the 21st country in terms of larger land area and is referred to as the Mother of West. The economical condition of Missouri is quite strong and offers plenty of job opportunities with an affordable cost of living.
In terms of real estate business, home values have risen by 50% in the last five years in Missouri. The country offers scenic and affordable recreational or agricultural lands to interested buyers. Unlike most parts of the USA, Missouri also offers a continental or subtropical climate.
These factors add up to enlist Missouri among the best States to buy land for investment or any other commercial purpose. The average price of land per acre in Missouri is $8618 approximately for 2024.
Summing Up
There are a few other factors also to consider when looking to best places to buy investment property in USA, including location, price, and potential for development or resale.
Here are a few things to keep in mind as you consider buying land in the USA:
Location: Look for land in an area that is likely to increase in value over time. This might include areas with a growing population, strong job market, or desirable amenities.
Price: Consider the price of the land concerning comparable properties in the area. Don’t overpay for land, especially if it does not have any immediate development potential.
Potential for development or resale: Look for land that has the potential to be developed or resold in the future. This might include land that is zoned for residential or commercial use or land that is located near a major city or transportation hub.
In conclusion, buying land in the USA can be a good investment if you do your research and choose a location that has the potential to increase in value over time. However, it’s important to carefully consider all the factors involved before making the purchase.
FAQ
Which state has no property tax in USA?
Unfortunately, no State in the USA allows you to purchase property without any property tax, but buying land in USA always is profitable for you.
Which land is best for investment?
The best land to invest might vary from people to people depending on your investment goals, risk appetite and budget.
Is land better than a house?
If you are planning to set up a commercial real estate investment opportunity or a duplex residential building, purchasing a land is definitely a better option. Nevertheless, whether to buy a house or land is always a subjective matter varying between investors depending on their investment goals.
Where is the cheapest farmland in the US?
North Dakota and Wyoming are two US countries from where you can purchase the cheapest farmlands.
