Landwatch Il (2024)

FAQs

How much does 1 acre of land cost in Illinois? ›

How expensive is land in Illinois? It all depends on the location and type of property you're looking to buy. For example, if you want to buy a farm in Illinois, you should budget about $8,900 per acre.

Illinois farmland covers 27 million acres -- about 75 percent of the state's total land area.

The average farm real estate value for Illinois in 2023 was $9,300 per acre. This includes the value of all land and buildings. The figure was 4.5 percent higher than the 2022 average of $8,900 per acre.

The cheapest land in the United States is located in New Mexico, Arizona, Michigan, Colorado, and Texas. However, it's important to note that the price per acre of a piece of property is dependent on several factors, including location and the type of land.

Wyoming is currently the #1 cheapest state to buy land in 2024. The average price per acre for land in Wyoming right now is $3,435, which fell from a high of $5,903 per acre in 2023.

The Church of Jesus Christ of Latter-day Saints owns 53,977 acres in Illinois, primarily in central Illinois but extending into northern Illinois, as well. Farmland Partners comes in second with 38,299 acres, with the Scully family close on its heels at 35,767 acres.

Farms and Land by Size of Farm

2 42 1 to 49 acres In 2022, the largest 2% of U.S. farms (5,000 or more acres) controlled 42% of all farmland. Conversely, 42% of farms had less than 50 acres and controlled 2% of all farmland. In 2002, the largest farms controlled 35% of all farmland.

The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2023 at $259 per acre, up by $16 per acre from the 2022 level of $243 per acre (see Figure 1).

The state with the most expensive land in the U.S. is Rhode Island, where one acre costs a whopping $350,400. The average acreage of property in the U.S. is 10,871 square feet, or a quarter of an acre.

How much does land cost in Texas per acre? The price varies widely based on location, land use, and features. As of 2023, the average price is about $4,670 per acre, but higher prices can be expected near urban areas and lower prices in rural regions.

What is the average price of recreational land in Illinois? ›

The combined market value of recreational land and property for sale in Illinois is $198 million, with the average price of recreational land and property for sale in being $558,700. Discovery more Illinois farmland and land for sale near you on Land and Farm.

Illinois Hunting Land Information

With an average price of $578,053, the total value of almost 100,000 acres of hunting land recently listed for sale in Illinois is $157 million. Illinois is characterized by a diverse landscape that includes rolling hills, vast prairies, and fertile farmland.

Federal land is managed for many purposes, such as the conservation and development of natural resources, grazing and recreation. The federal government owns 1.14 percent of Illinois's total land, 406,734 acres out of 35,795,200 total acres. Illinois ranked 38th in the nation in federal land ownership.

How much is an acre of land? The cost of land per acre varies greatly depending on location and intended use. On average, in the United States, the cost of one acre of land is around $16,000. You can buy an acre for under $1,000 in some places, but some commercial lots and farmland can exceed $100,000 per acre.