At first the idea of owning land might seem like a long shot. But what you may not realize is just how easy it is to make the dream of land ownership a reality. Land is traditionally too expensive to outright purchase, and most financial institutions would most likely laugh at the idea of providing financing for unimproved land. However if you look in the right spots, inexpensive property is out there and it can be discovered, affordably financed and turn into a great investment for you and your family! We’ve done some research and ranked each state for property availability, average cost per acre, selection on LandCentral and through realtors, and local economy among other factors. You can see the top 5 cheapest states to buy land in below:
“Natural beauty and a great state to fall in love with”
Tennessee gets experiences four beautifully distinct seasons throughout the year. Locally, Tennessee is known for its close-knit communities, county fairs, golf courses, and natural beauty. Affordable home and property prices, low property taxes and no state income tax make this one of the cheapest states to buy land in – and one day live in if you’re buying land to build on!
“One of the most affordable places to live”
For being a state where you can find cheap land for sale, Arkansas is considered an incredible place to live. Aside from being able to experience all four seasons in a variety of outdoor settings, including fishing, hunting, hiking and golfing, Arkansas stands out among other states by boasting some of the nation’s best health care facilities, amazing southern cuisine, artistic attractions, and a growing economy. Due to its affordable housing, taxes, utilities, and daily living expenses, Arkansas is considered one of the most affordable places to live in – so why not own land in Arkansas and build on your investment today?
3. New Mexico
“Spacious land for off the grid living or starting a new business in the city”
If you look around for land for sale in New Mexico, you might find that the cost per acre in this state is among the lowest in the U.S., especially if you’re looking in those areas just south of Albuquerque. New Mexico is a great state to buy land if you are looking to live off the grid and away from major cities, or if you’re looking to start a new business – especially in areas where the population is gradually growing, such as Santa Fe or Las Cruces. In spite of the country’s poor economy in the more recent past, New Mexico has managed to maintain a cost of living lower than the U.S. average on top of having no sales tax.
“Captivating desert skies and snow-capped mountain peaks”
Did you know that you could be a 2-3 hour drive between a captivating desert sky and skiing on snow-capped mountains in this state? In addition to cheap land and low property taxes, Arizona offers its land owners and residents a well-balanced mix of flat land and mountain ranges spread over thousands of acres and over 300 days of warm weather to enjoy it in. Take a look through these areas in Arizona, one of the cheapest states to buy land in the entire country. However while there is plenty of cheap land in Arizona, the title goes to…
“Rural living and investment potential”
In this state, you will find a climate that is mostly hot with low humidity – an attraction for both residents and visitors. Some great areas for investment include property in southern Nevada, close to the California and Arizona borders where you are just a short drive to entertainment cities including Las Vegas, and up in northern Nevada where many folks find tranquility in building their home in a more rural location with beautiful mountain views.
Investing in land is a big decision. You want to make sure that you are getting the right property for the right price – the cheaper you can land your dream property, the better! Of course, these are just a handful of great states to start looking for cheap property. The most important factor here is finding a property that’s right for you.