1. New Jersey
> Value of land per acre: $196,410
> Total value: $930 billion (5th highest)
> Total acres: 4.7 million (4th smallest)
New Jersey had the most valuable land in the country, valued at an estimated $196,410 per acre. The state as a whole was worth $930 billion, fifth highest nationwide. Developed land is far more valuable than non-developed land. Therefore, it should come as no surprise that New Jersey is one of the most developed states in the country. Nearly 31% of New Jersey’s land was classified as developed, the second highest percentage in the country.
2. Rhode Island
> Value of land per acre: $133,730
> Total value: $90 billion (3rd lowest)
> Total acres: 673,000 (the smallest)
Like most of the states with the highest land values per acre, Rhode Island is not a large state. In fact, it is the smallest in the union. At just 673,000 acres Rhode Island’s total land value was just $90 billion, nearly the lowest in the country. However, the state was valued at $133,700 per acre on average, second only to New Jersey.
> Value of land per acre: $128,824
> Total value: $400 billion (18th highest)
> Total acres: 3.1 million (3rd smallest)
Connecticut contains just over 3 million acres, making it the third smallest state in the country. Connecticut was also one of just four states where land was valued at over $100,000 per acre on average. By contrast, the estimated value of an average acre across the country was just over $12,000.
> Value of land per acre: $102,214
> Total value: $517 billion (13th highest)
> Total acres: 5.1 million (5th smallest)
Massachusetts was worth $102,214 per acre on average, far more than the vast majority of states. Just over 10% of land in Massachusetts was designated as agricultural, whereas nearly half the contiguous U.S. was used for agricultural purposes. As in most states with relatively small percentages of agricultural land, more than one-quarter of Massachusetts was classified as developed — land that tends to be far more valuable than both agricultural and other undeveloped property.
> Value of land per acre: $75,429
> Total value: $470 billion (15th highest)
> Total acres: 6.2 million (8th smallest)
Maryland’s land was worth $75,429 per acre on average, making the state the fifth most valuable in the country. Less than 3% of the state’s land was owned by the federal government. By contrast, nearly 24% of the contiguous U.S. was owned by the federal government. Most high-value states had relatively little federally owned land.