In order to have the best chance of making money investing in rural land, three conditions are required. First, a large supply of acreage is needed. Next, the prices must be relatively low. Finally, there must be a minimum of restrictive zoning and land use regulations in effect. Of all the states, perhaps cheap Wyoming land offers the best opportunity in this regard.
Only the larger Western states would offer the first criterion, but only Texas, South Dakota, and Wyoming combine the last two conditions of relatively low prices with a minimum of restrictive zoning and land use regulations. South Dakota and Texas basically have very few subdivision regulations, and Wyoming land is exempt from subdivision control if sold in 160-acre sizes or larger.
New Mexico has a large supply of relatively low-priced acreage—but there are restrictive subdivision regulations. Arizona land is priced too high. Nevada land is relatively low-priced, but state laws prevent the division of land into smaller than 640-acre sizes. Land in Colorado, Idaho, Montana, Oregon, Washington, and Utah is all higher priced, and in addition, these states have restrictive subdivision regulations. Alaska, surprisingly, is also higher priced and contains more restrictions that Wyoming, Texas, or South Dakota. Furthermore, Alaska can be extremely cold and frozen, and it isn’t considered that easy to access by people in the lower 48 states.
Wyoming, however, has it all! It is relatively easy to get to; land prices are among the lowest in the nation; there are no subdivision regulations for land 160 acres in size or larger; property taxes are very low; and there are no state income taxes.
Those interested in low priced rural land certainly need to investigate all the opportunities available with cheap Wyoming land!