Cheapest Land in the United States
The term “cheap” land is relative in nature, meaning that one tract of land might be cheap compared to another tract of land in the same general location. But the term “cheapest” land is absolute in nature, meaning that no other tract of land anywhere in the United States is cheaper in price! OK, so where is the cheapest land in the United States to be found today? The cheapest land in the United States today would be in Texas, Wyoming, South Dakota, Nevada or New Mexico.
For seasoned land buyers, the per-acre price is the key to success, not the per-parcel price. For example, a 320-acre tract for $52,900 is far cheaper that a two-acre lot for $9,000. This is because the two-acre lot is priced at $4,500 per acre, while the 320-acre tract is only $185 per acre. Since the Pilgrims landed in 1620 and Americans began migrating west, land dealers have made fortunes buying land per-acre and selling lots per-parcel!
The cheapest land in the United States, purchased today for a long-term investment, would be one of the safest assets a person could acquire, and also one of the most certain assets to increase in future value. It is a safe asset to own because it can’t be stolen, destroyed by fire, mismanaged or outdated by technology. It is certain to increase in value because in the future there will be more people and the government will print more paper money, yet not one new acre of land will ever be created.
How did prices for the cheapest land in the United States compare with the stock market over the last 50 years? In 1960, the Dow Jones was 685 and today it is about 11,000, 16 times higher than it was 50 years ago. In 1960 the cheapest land in the United States was around $5 per acre, and the cheapest land for sale in the United States today is 450,000 acres in Nevada for $178 per acre, 36 times the cost of 50 years ago. How about the value of cash over the last 50 years? According to the U. S. Bureau of Labor Statistics, it takes $7,375 today to buy the same goods and services that $1,000 purchased back in 1960. In other words $1,000 in 1960 is worth approximately $140 today.
There are 2.4 billion acres of land in the United States, and 100 years ago the population was 92 million. That equated to about 26 acres per person. Today the population is 307 million people, equating to only 7.5 acres per person. Can future land values do anything but go up?
Purchasing a tract of the cheapest land in the United States today can only increase in value in future years. History has taught us that it’s virtually impossible to lose money owning the cheapest land in the United States, if it’s purchased cheaply enough and held long enough!
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