What is the average price of land (per acre) where you live?

Discussion in 'Off Topic' started by NuclearNed, Dec 1, 2006.

  1. NuclearNed

    NuclearNed Raconteur

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    I want some land, approximately 5-10 acres, so I can build my house. In northeastern Tennessee it seems to be going for @ $10k per acre rural, or @ $35k - $40k per acre in town. I've seen it as low as $8k rural for flawed land close to town.
     
  2. KK

    KK Lifer

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    10k an acre rural, must not be very rural. I would think up there would be around 2k an acre.
     
  3. drnickriviera

    drnickriviera Platinum Member

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    Here in SW TN. Inside a city 50k+. w/in 5-10 miles $10k, further out $3-$5k, swampland $500. Of course the more land the cheaper the price, but it doesn't seem to go below $2k
     
  4. imported_mateo

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    Live in a condo downtown... $600-$700 / square foot. (No idea what it is per acre.) Crazy expensive to live downtown, but it has its advantages!
     
  5. MrBond

    MrBond Diamond Member

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    NW Ohio, where my parents live. I know a little more than usual because the state is coming through buying land for a new highway.

    Some farm land that was converted into residential lots (not in town) went for $15,000/acre. The land isn't anything special, flat and no trees.

    The state is paying far less than that for land. I've heard people say anywhere from $2,000 to $7,500 an acre (the $7,500/acre was for land that was essentially the same as the land that went for $15,000/acre to a person).

    A farm went up for sale recently, I think the guy who bought it all paid around $3,000/acre, but that also included a farmhouse (not in great shape). He bought the whole farm as one lot at auction.

    My great uncle lives on the edge of town and has a house, outside building, and 30 acres. He was talking about how the estate would eventually be split up and we estimated that if all his land was split into residential lots, the whole thing would probably be worth around a million dollars.
     
  6. MiniDoom

    MiniDoom Diamond Member

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    Probably $1,000,000 acre here but I could drive an hour west to the mountains and get around 10 for 200k.
     
  7. NuclearNed

    NuclearNed Raconteur

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    You would be surprised at how rural it is - stuff way out in the mountains on land that is nearly unsuitable for building. I can't figure out why it is so expensive here.

    One theory I have is that a 10,000 acre wooded lot in this county just sold for several million dollars, so now everybody else thinks they can get a piece of the action.

    Another theory: about 75% of this county is federal property (national forest). What land is left is getting gobbled up by developers.
     
  8. Abel007

    Abel007 Platinum Member

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    Rich people like the mountains.
     
  9. fisheerman

    fisheerman Senior member

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    In town subdivision lots 1/4 acre here are anywhere from $165k-310k
    You can go out to the rural part of the city and pick a 3-5 acre lot for around $250K ready to build.

    Raw undeveloped land goes about $50k-$70k

    southeast VA mad expensive land prices

     
  10. tfinch2

    tfinch2 Lifer

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    In my parents neighborhood, a 1.5 acre lot went for about 20k two years ago, now it'll fetch about 80k. For the location it's pretty outrageous. My parents wanted to buy the empty lot behind them, which was right at 2 acres, and the owners wanted 100k to even consider selling it.
     
  11. Spacehead

    Spacehead Diamond Member

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    NW Pa
    Probably 2-3K in very rural areas like me.
     
  12. Slap

    Slap Golden Member

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    I just bought 5 acres in Arlington, TN (suburb of Memphis) for $45k. We will start building later this month. We will end up with a 3700 sq ft heated house with 3 car garage on 5 acres for around $310k total.
     
  13. Scarpozzi

    Scarpozzi Lifer

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    I want to buy some land soon.....hopefully if I can get a raise sometime I can start planning and buy something somewhere.
     
  14. vi edit

    vi edit Elite Member <br> Super Moderator
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    *True* rural can go for as low as $3,000 an acre. A buildable acre that is ready to drop a house on in a rural developed subdivision is anywhere from $30,000-$75,000.

    In town acres are upwards of $100,000 or more.

    Area is Central, IL.

     
  15. NuclearNed

    NuclearNed Raconteur

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    What town? I lived in Mattoon when I was a kid.
     
  16. NuclearNed

    NuclearNed Raconteur

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    What town? I lived in Mattoon when I was a kid.
     
  17. Stallion

    Stallion Diamond Member

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    Here in the Seattle area it is very different depending on how far out from the cities you go.

    12 years ago my sister bought 3 acres in the mountains for $75K, now it's over$150K, on the other hand last year our friends bought a "lot" to build a house on and paid $200K.

    We have looked at buying land and most acres are about $25-30K per acre but that's in the sticks.
     
  18. jadinolf

    jadinolf Lifer

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    About $300 K where I live. If you want a lot in a community of houses, much more.
     
  19. NoShangriLa

    NoShangriLa Golden Member

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    Hobies farmland @ 5-10 acre lot size is going for $500,000-1,500,000 in my area, and unclear lots that slightly farther out is going for $500,000-800,000. Suburbia lots at ¼ acre next the unclear rural lots are going for $239,000 per lot, and cities lots @ 1/6-1/7 acre are going for more than $300,000 up to $500,000-600,000 for water front. 5 hours drive up to the top of the island there are area that can be had for 5-6K per acre.