10 Cheapest States to Buy Land In 2024

10 States Where You Can Buy Land for Less Than $10,000 Per Acre

Are you looking for great areas to invest into property to buy and hold, or develop? Look no further!

In this comprehensive guide, we’ve scoured the nation to uncover the top 10 cheapest states where you can purchase land for less than $10,000 per acre in 2024.

Whether you’re a homesteader, investor, or simply seeking a slice of nature to call your own, these states offer affordability without sacrificing beauty or opportunity.

1. Wyoming: Price Per Acre $3,435

Pros: Scenic Beauty, Low Population Density, Outdoor Activities
Cons: Harsh Climate, Limited Amenities, Distance from Major Cities

2. New Mexico: Price Per Acre $3,514

Pros: Diverse Landscapes, Cultural Richness, Affordability
Cons: Water Scarcity, Extreme Temperatures, Economic Factors

3. Nebraska: Price Per Acre $4,152

Pros: Agricultural Strength, Low Unemployment Rate, Quality of Life
Cons: Extreme Weather Conditions, Limited Cultural Amenities, Economic Dependence on Agriculture

4. Montana: Price Per Acre $6,502

Pros: Stunning Landscapes, Outdoor Recreation, Privacy and Space
Cons: Harsh Winters, Remote Locations, Limited Job Opportunities

5. Colorado: Price Per Acre $6,830

Pros: Diverse Geography, Recreational Opportunities, Thriving Economy
Cons: Higher Cost of Living, Population Growth, Water Scarcity

6. North Dakota: Price Per Acre $6,897

Pros: Energy Production, Low Population Density, Agricultural Potential
Cons: Cold Winters, Limited Entertainment Options, Economic Volatility

7. Kansas: Price Per Acre $7,222

Pros: Fertile Land, Central Location, Affordable Land
Cons: Tornado Risk, Limited Scenic Variety, Economic Diversity

8. Oklahoma: Price Per Acre $7,599

Pros: Affordable Land, Cultural Heritage, Diverse Geography
Cons: Weather Extremes, Limited Outdoor Amenities, Educational and Healthcare Challenges

9. South Dakota: Price Per Acre $7,816

Pros: Natural Beauty and Outdoor Activities, Low Population Density, Low Cost of Living
Cons: Harsh Winters, Limited Job Opportunities in Certain Sectors, Rural Lifestyle

10. Oregon: Price Per Acre $8,653

Pros: Diverse Natural Beauty, Environmental Consciousness, Vibrant Cultural Scene
Cons: High Cost of Living, Rainy Weather, Limited Job Market in Some Areas

Now that we’ve explored the top 10 cheapest states to buy land let’s delve deeper into the key findings of our research, including the average price per acre nationwide and the most expensive state to buy land in 2024.

Investment Opportunities for Real Estate Investors

For real estate investors seeking lucrative opportunities, the current landscape of land prices across the United States offers a promising array of options. Whether you’re a seasoned investor looking to diversify your portfolio or a newcomer eager to enter the market, exploring affordable land investments can yield significant returns. Here’s why:

Wyoming: A Haven for Investment
- With an average price per acre of just $3,435, Wyoming presents an enticing opportunity for real estate investors. The state’s affordability, coupled with its natural beauty and potential for development, makes it a prime destination for savvy investors seeking high-value properties at a fraction of the cost.
Rhode Island: Exclusivity and Prestige
- While Rhode Island boasts the highest average price per acre in the nation at $101,493, its allure lies in its exclusivity and prestige. For investors with a taste for luxury and a keen eye for opportunity, Rhode Island’s real estate market offers unparalleled potential for high-end developments and exclusive properties.
Diversification and Portfolio Growth
- Investing in land across diverse regions allows investors to spread risk and maximize returns. By strategically diversifying their portfolios with affordable land acquisitions in states like Wyoming and New Mexico, investors can position themselves for long-term growth and stability in the real estate market.
Market Trends and Opportunities
- Our research highlights valuable insights into market trends and opportunities for real estate investors. By staying informed about the latest developments in land prices and market dynamics, investors can make informed decisions and capitalize on emerging opportunities in the ever-evolving real estate landscape.

Key Findings of Our Research

Our in-depth analysis of land prices across the United States has uncovered several compelling insights into the current landscape of real estate affordability. Here’s a closer look at our key findings:

Wyoming: The Epitome of Affordability
- Wyoming emerges as the undisputed champion for affordability, boasting an average price per acre of just $3,435. This remarkable figure positions Wyoming as a beacon of opportunity for prospective landowners seeking budget-friendly investments.
Rhode Island: The Pinnacle of Luxury
- On the opposite end of the spectrum, Rhode Island commands the title of the most expensive state to buy land. With an astonishing average price per acre of $101,493, Rhode Island’s land prices reflect the state’s reputation for opulence and exclusivity.
National Average: A Benchmark for Comparison
- Nationally, the average price per acre for land stands at $14,193, providing a benchmark for comparison across states. This figure offers valuable context for evaluating the affordability of land in different regions and understanding market trends on a broader scale.
Median Price: A Measure of Central Tendency
- In addition to the average price per acre, our research also uncovered a median price per acre of $14,509. This measure of central tendency provides further insight into the distribution of land prices, offering a more nuanced understanding of the real estate landscape.

What is the Cheapest State to Buy Land In?

Wyoming steals the spotlight as the cheapest state to buy land in 2024. This picturesque state offers unparalleled affordability for prospective landowners with an average price per acre of $3,435. Notably, this figure represents a decline from the previous year’s average of $5,903 per acre, making it an even more enticing prospect for budget-conscious buyers.

What is the Most Expensive State to Buy Land?

Conversely, Rhode Island emerges as the most expensive state to buy land in 2024. At a staggering average price per acre of $101,493, acquiring land in the Ocean State comes with a hefty price tag. While Rhode Island may be renowned for its coastal charm and rich history, its sky-high land prices present a significant barrier to entry for many aspiring landowners.

What is the Average Price for Land Per Acre by State?

For those seeking a comprehensive overview of land prices nationwide, we’ve compiled a complete list of all 50 U.S. states, ranked from cheapest to priciest for buying land in 2024. From the rolling plains of the Midwest to the rugged coastlines of the Pacific Northwest, this list offers valuable insights into the diverse landscape of land affordability across the country.

Can You Use A DSCR Loan To Purchase Land?

Yes, it’s possible to use a Debt Service Coverage Ratio (DSCR) loan to purchase land, although it may depend on the lender’s policies and the specific circumstances of the loan.

A DSCR loan is typically used in commercial real estate financing to assess the borrower’s ability to cover the debt obligations associated with the property. It measures the ratio of a property’s net operating income (NOI) to its debt obligations, including mortgage payments and other related expenses.

When it comes to purchasing land, lenders may evaluate the feasibility of using a DSCR loan based on factors such as the intended use of the land and its income-generating potential. For example, if the land is intended for commercial development or agricultural purposes, and there is a clear plan in place to generate income from the land in the future, a lender may consider offering a DSCR loan.

However, if the land is purely for personal use or does not have immediate income-generating potential, lenders may be more cautious about providing a DSCR loan. In such cases, alternative financing options, such as a traditional mortgage or personal loan, may be more suitable.

It’s essential to discuss your specific financing needs and goals with a lender who can provide guidance on the best financing option for purchasing land based on your individual circumstances.

In conclusion, while the dream of land ownership may seem out of reach for some, our research demonstrates that affordable options abound for those willing to explore beyond traditional real estate markets. Whether you’re drawn to the rugged beauty of Wyoming’s wilderness or the cultural vibrancy of New Mexico’s landscapes, there’s a perfect piece of land waiting for you at a price you can afford.

So why wait? Start your journey to land ownership today and turn your dreams into reality.

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