With over $100 million in active land listings, LandLeader is the premier resource for all things rural real estate in the state of Michigan. Being the largest network of land brokers in the U.S provides us access to some of the nation’s top rural real estate brokers, as well as the most recent market statics. Here we will be breaking down just how much an acre of land is in Michigan.
How Much Is An Acre Of Land In Michigan: Average Value and Factors Affecting Price
About Michigan
Known for its forested highlands, river systems, and agricultural economy, Michigan is located in the midwestern U.S. It is bordered by Iowa to the north, Illinois, Kentucky, and Tennessee to the east, Arkansas to the south, and Oklahoma, Kansas, and Nebraska to the west. With over 6 million residents across a total area of approximately 68,886 square miles, it is the 19th most populous state.
How Much Is An Acre Of Land Worth In Michigan
According to the USDA’s National Agricultural Statistics Service evaluation of the Great Lakes Region, the average cost of an acre of farm land including land and buildings averaged $5,300 per acre in 2021, a 7% increase from the previous year. This comes as an average of cropland and pasture land throughout Michigan. As a larger source of real estate, this comes as a good average indicator of acreage costs but can vary greatly by location and designated usage.
Getting A Value Estimate Of Your Land
To get a value estimate of land you currently own, there are a variety of ways you can approach this. Primarily, comparing similar property sales in close proximity will likely give you the closest range of value to expect at a sale. This is a great way to arrive at a benchmark estimate, but working with a local real estate professional alongside other professional services such as land surveyors will be your best option to find the most accurate value.
Buying Land In Michigan
Getting started purchasing land in Michigan can be as simple as browsing our inventory of listings currently available for sale. From there you will be able to contact a listing agent directly. Otherwise, feel free to contact us for more information about how to get in touch with a LandLeader partnered professional in Michigan as soon as possible.
