About two-thirds of Americans are homeowners. But when it comes to owning land — wide, open spaces — the percentage isn’t nearly as high.
In 2016, The Washington Post reported that the wealthiest 1% of households owned 40% of the nation’s non-home real estate. In fact, an increasing percentage of land has fallen into the hands of a wealthy few. The 100 largest landowners own about 42 million acres — which is 50% more than what they owned a little more than 10 years ago, The New York Times reported.
So if you’re not a millionaire or billionaire, does that mean land ownership is out of the question for you? To find out, GOBankingRates looked at property listings across the U.S. where land is affordable for those without really deep pockets.
GOBankingRates used LandWatch, an online rural property listing service, to identify parcels of land selling for $10,000 or less. Listings of less than 0.1 acres were excluded. The listings were then ranked by price per acre to determine the 50 cheapest places to buy land in America.
Note that, among these places, several counties appear more than once because they had multiple listings for $10,000 or less. Mohave County, Arizona, has the most listings of any county on the list at seven. Arizona also has more listings — 14 — than any other state. And the West has more cheap land listings than any other region.
The study shows that affordable land is available to people who aren’t super rich. If you’re looking for a good deal, keep reading to find out where the best places to own property are located.
Last updated: Nov. 6, 2020
