With over $100 million in active land listings, LandLeader is the premier resource for all things rural real estate in the state of Missouri. 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 is an acre of land in Missouri.
Land in Missouri: A Breakdown of Value and Opportunities
About Missouri
Known for its forested highlands, river systems, and agricultural economy, Missouri 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 In Missouri
Based on an annual survey conducted by the University of Missouri, respondents reported the value of various acreages of land in their area. Below is a map of the annual value increase from 2021-2022 and a breakdown of what was found in the primary categories of land In Missouri.
Cropland:
Non-irrigated cropland at $6,326 per acre, up $771 or 14 percent above last year. The average statewide value reported for irrigated cropland was $7,132, up $797 from last year
Pastureland:
Respondents also reported that Pastureland was estimated to have a statewide average value of $3,781 per acre, up $407 or 12 percent above 2020 estimates. Timberland was up $509 to $3,070 per acre.
Hunting/Recreation Land:
Hunting/recreation land was up $581 to $3,162 per acre, a 20% increase year to year.
Agricultural economist Ray Massey, who led the survey, projects the upswing in Missouri land prices will continue. He says higher land values will result in higher cash rental rates. Higher land values may also lead to an increase in the tax base, allowing communities to collect more revenue.
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 Missouri
Getting started purchasing land in Missouri 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 Missouri as soon as possible.
