Purchasing land can be an excellent investment opportunity, and how much an acre costs can also help you decide where you might like to live. However, the price for 20 acres of land can vary greatly depending on where that land is and what it can be used for.
How do you calculate how much an acre is worth?
To calculate how much an acre is worth, you first need to find the total value of a piece of land. Then, you’ll need to subtract the value of any houses or buildings on the land. Next, take the price of the total amount of land and divide it by the number of acres.
For example, if you have an empty piece of land that is 4 acres in size and is worth $100,000, you would divide $100,000 by four to find that each acre is worth about $25,000.
You can also estimate how much land is in a certain area. To do this, find the values of several pieces of land in the same area. Always subtract the values of any buildings on the land. Then, add all the prices together and divide by the total number of acres of all the land to find an average price per acre.
How much are 20 acres of land worth?
On average, an acre of land in the United States is worth about $25,560, and 20 acres is worth about $511,200. However, how much land is worth varies from place to place, and it can even change depending on what town or city the land is located in. The best way to get a feel for land prices is to look at different price averages from around the United States and the world.
The Most Expensive Prices For Land in the United States
The most expensive place to buy land in the United States is in New Jersey. There, 1 acre averages about $196,410, which would mean that 20 acres are worth about $3,928,200. Rhode Island comes in second, with 1 acre of land costing about $133,730. This means that 20 acres of land in Rhode Island would cost about $2,674,600.
The most expensive place to buy land that isn’t on the East Coast is in California, where an acre sells for an average of $39,092, which means that 20 acres would cost about $781,840.
The Least Expensive Prices for Land in the United States
The least expensive place to purchase land in the United States is in Wyoming, where an acre of land averages about $1,558, and 20 acres would cost about $31,160. New Mexico is a close second, with 1 acre averaging about $1,931. This means that 20 acres in New Mexico would cost about $38,620.
Nevada is just a little bit more than this, with 1 acre averaging about $2,116 and 20 acres averaging about $42,320. Almost all of the states with the lowest prices are in the mid- or southwest regions of the U.S.
Median Land Prices in the United States
Land in Tennessee falls into the higher range of medium prices for land in the United States. In this state, an acre costs about $14,411, and 20 acres would cost about $288,220. Georgia is only a little bit less expensive, averaging about $14,242 per acre.
Kentucky, Missouri, Oklahoma, Vermont, and Texas are on the low end of the medium price for land in the United States. An acre of land in these states generally costs between $7,209 and $7,542, and 20 acres in these states will average between $144,180 and $150,840.
Prices Per Acre Around the World
Bolivia has some of the least expensive land per acre in the world, largely because the area can be dangerous.
However, this also means that building a home or starting a farm can be quite inexpensive.
Prices for an acre of land start at around $100 in Bolivia, which means that 20 acres would only cost about $2,000.
Russia is also a good choice for inexpensive land. Prices start at around $500 for 1 acre, which means that 20 acres can cost as little as $10,000.
Land that’s this inexpensive is usually farmland. Land in cities can cost a great deal more, and land in some remote regions might even cost less.
Spain is a popular country thanks to its rich culture. Surprisingly, some land in Spain is relatively inexpensive, with the price per acre starting at around $1700.
This is mostly agricultural land and it might be some distance from some of Spain’s major cities. However, it means that you could purchase 20 acres for around $34,000.
Prices for an acre of land vary greatly in Canada. Land in major areas, such as Toronto, can be very expensive. However, if the land is in a more rural or agricultural setting, it can be reasonably priced. An acre of land in Canada starts at around $3,000, but it can reach as high as $11,905 in Ontario, and even more in city areas.
This means that 20 acres in Canada could be worth between $60,000 and $238,100, depending on location.
Despite its wide-open spaces, land in Australia can be very expensive. This is often because even what is considered to be undesirable land can be used for farming. An acre of land in Australia starts at around $45,000, and those prices will rise if you plan to purchase land on the coast or in or near one of the major cities.
This means that, if you’re looking to buy 20 acres of land in Australia, it will most likely cost you at least $900,000.
Prices in Greece are very similar to Australia, with prices for an acre of land starting at between $40,000 and $50,000. This is mostly the price for rural or agricultural land. Land in more populous or city areas will usually cost significantly more.
Ireland used to be well-known for having some of the least expensive land in the world, but the price has risen significantly over the years. Today, an acre of land in Ireland starts at around $35,000 and goes up depending on how desirable the location is and what the land can be used for.
This means that 20 acres of land will cost at least $700,000.
Like Bolivia, Paraguay has some of the least expensive land in the world, with the price per acre starting at around $122. This means that 20 acres can cost as little as $2,440.
However, purchasing land in Paraguay comes with the same risks as buying land in Bolivia. The area is underdeveloped and can sometimes be dangerous, depending on where you plan to buy.
Because it’s so small and land is at such a premium, Hong Kong has some of the most expensive land in the world. An acre of land starts at around $1,000,000, and 20 acres can cost $20,000,000 or more. Land in Singapore, which is also small and densely populated, costs about the same amount.
The same is true for land in the city of London in England.