Are you planning to buy or sell your land? If so, you must be wondering how much does 5 acres of land cost. The short answer to this is that it depends. There’s no one value or price tag you can place on different 5-acre lots across the United States. However, it is very important to learn more about the current market value of the land you plan to buy or sell to ensure that you’re getting a decent deal.
When buying or selling land, you have a choice to deal directly with the buyer or seller or work with an agent. Many companies, realtors, and real estate agents offer assistance for those who wish to acquire or dispose of land. It is best to work with a reputable professional who can handle all the paperwork and selling procedures for you. Of course, selling land requires a lot of time, effort and hard work. Having someone dependable to assist you will certainly take all or at least most of the burden off your shoulders.
The Cost of 5 Acres of Land in the United States
As earlier mentioned, there’s no specific figure you can place on different lots and parcels of land across the United States. When wondering how much does 5 acres of land cost, several factors are considered including the following:
- Structures within the Land
- Type of Land Use: Agricultural, Residential, Commercial, Recreational, Transport
- Land Condition
- Documents and Records Available
USA Today cites the work of William D. Larson, an economist, who placed the total value of $23 trillion for the entire 1.9 billion acres of land in the United States. This means that the average cost for an acre of land is $12,000 or $60,000 for 5 acres of land.
Almost half of the land in the US is used for agricultural purposes. According to the United States Department of Agriculture (USDA) National Agricultural Statistic Service (NASS), the average cost of agricultural land in the country is $3,140 per acre as of 2018. This figure is for farm real estate, which includes land and all structures and buildings on farms. This is a slight increase from the $3,080 per acre farm real estate value in 2017.
Except for a few slight dips in land value over the years, it is safe to say that land is truly a great investment. From the same report of the NASS above, it shows that the average farm real estate value has more than doubled from 2004 to 2018 where it costs an average of $1,340 per acre in 2004 and $3,140 per acre in 2018.
Buy or Sell Land in Florida and Georgia
Land Soar is a reputable company that offers professional assistance to buyers and sellers of land across the United States including Florida and Georgia. We specialize in vacant lots and rural land that you can use for agricultural, recreational, and other purposes. We eliminate the need for middlemen, hence lowering down the operational costs of buying or selling land. After all, when you ask how much does 5 acres of land cost, the price usually doesn’t include fees and other expenses that may occur during the process of buying or selling.
Own a 5.9-acre land for just over $14,000 or a 22.5-acre land in Florida for less than $82,000. Check out our listings today! Get in touch with an expert at Land Soar for professional assistance. You may reach us by calling 386-200-5001. You may also send us an email at [email protected]. Alternatively, you can complete our Sell Your Land form if you want to include your property in our listings.