This form is for an option to purchase residential real estate - Farm Land.
North Dakota Option For the Sale and Purchase of Real Estate - Farm Land
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The 2017 Census of Agriculture showed that farms and ranches occupy 39.3 million acres of land in North Dakota, which is an amazing 89 percent of the total land in the state.
In Gerlach, Nevada you can get land as cheap as $157 per acre. With that kind of a price tag, you know there has to be a catch2026 The first catch to get that kind of rate you would have to consider buying in bulk. For example, check out this rural lot in Gerlach, NV, which is boasting 38.1 acres for just shy of $6,000.
Cropland Values Remain Steady in 2020. In 2020, the state average cropland value is $2,063 per acre. Estimated average per-acre values of cropland in North Dakota from 2014 to 2020.
North Dakota's sub-humid continental climate is perfect for raising livestock and producing small grains. The state is a top producer of dry edible beans, navy and pinto beans, canola, flaxseed, and honey.
Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.
You might see farmland included in a miscellaneous land category in real estate investing, but it's more similar to a specialized type of CRE akin to industrial.
It may seem rather obvious to most people around here, but North Dakota ranks as the third best state in the nation in which to start a farm or ranch.
For these reasons and more, agriculture is a massive industry in North Dakota and nearly 90% of the state's total land area is classified as farmland.
Over the last 20 years, the price of farmland per acre in north dakota has risen by an average of 9% per year to $1,930 per acre as of 2019. This represents an increase of $1,485 per acre of farmland over this time period.
Cropland Values Remain Steady in 2020. In 2020, the state average cropland value is $2,063 per acre. Estimated average per-acre values of cropland in North Dakota from 2014 to 2020.