With over $500 million in active listings all across the United States, LandLeader is the premier resource for all things related to land in the United States, including New York. Our current database of listings in New York is 35+ and more than $10 million in value. Here we will be breaking down the average cost of land in New York, as well as how you can get started purchasing your own New York property today.
About New York
New York, officially known as the State of New York, is a state in the Northeastern United States. It is sometimes called New York State to distinguish it from its largest city, New York City. With a total area of 54,556 square miles, New York is the 27th largest U.S. state geographically. With 20.2 million residents, it is the fourth most populous state in the United States as of 2021, with approximately 44% living in New York City, including 25% of the state’s population within Brooklyn and Queens, and another 15% on the remainder of Long Island.
New York Real Estate Market
Across the state, New York has seen a trend of increasing prices with decreasing inventory. This has been a consistent trend in recent years for residential real estate. Year to year, single-family homes in the state of New York saw a decrease in inventory of 18% with an increase in median prices 35%. These figures alone would indicate that the overall New York real estate market has seen a significant demand increase.
How Much Does Land For Sale In New York Cost?
According to the National Agricultural Statistics Service Annual Land Values Report, the average cost of an acre of farmland increased 3.8% from $3150 in 2020 to $3270 per acre in 2021. This figure is also supported by the average cost per acre of cropland in the report, which showed a 3.9% increase from 2,800 per acre to 2910 per acre from 2020 to 2021 as well. . While farmland is specific as an income producer, this is a great indicator of overall land value trends. To explore the values of larger, recreational, and residential land, check out our current inventory of New York listings
The process of purchasing rural land in New York can be as simple as browsing available listings that are currently on the market. Otherwise, you can contact us to get in touch with a local real estate expert to help you get started with knowledge of the entire state of New York at your disposal.