The Most (and Least) Valuable States
> Value of land per acre: $28,961
> Total value: $1.02 trillion (4th highest)
> Total acres: 35.3 million (24th highest)
> Percent land mass rural: 86.2% (7th lowest)
The entire state of Florida is worth over $1 trillion, making the state the fourth most valuable in the nation. Nearly 15% of land in Florida is developed, one of the higher percentage compared to other states, and well above the 5.8% figure for the nation’s 48 coterminous states. As in most other states, Florida’s developed property accounts for a disproportionately high share of the state’s total value. The 14.8% of state acreage that is considered developed accounts for 65.8% of the state’s total land value.
> Value of land per acre: $23,765
> Total value: $865 billion (7th highest)
> Total acres: 36.4 million (21st highest)
> Percent land mass rural: 93.6% (19th lowest)
Less than 28% of land in Michigan is used for agriculture, a lower percentage than in most states, and well below the figure of 47% figure for the lower 48 states. It accounted for only 3.9% of the state’s total value, less than half the comparable national percentage. Higher total value per acre tends to be the result of expensive real estate, especially houses, in an area. However, the typical Michigan home is worth just $125,700, one of the lowest median home values in the country.
> Value of land per acre: $23,492
> Total value: $833 billion (9th highest)
> Total acres: 35.5 million (23rd highest)
> Percent land mass rural: 92.9% (15th lowest)
Just 3% of Illinois is owned by the federal government, and it accounted for just 2% of the state’s total value — both figures were among the lowest in the country. While the states with the highest estimated values tended to have lower percentages of agricultural land, this is not the case in Illinois. More than three-quarters of the state is agricultural, a higher proportion than all but six other states. Developed land still accounted for 58.8% of the state’s total value, however.
> Value of land per acre: $21,921
> Total value: $555 billion (11th highest)
> Total acres: 25.3 million (13th lowest)
> Percent land mass rural: 93.3% (18th lowest)
As a whole, Virginia is worth an estimated $555 billion, the 11th highest total estimated value in the nation. Federal property tends to be worth less than private property, and more than 15% of land in Virginia is federally-owned, higher than the majority of states. Still the average acre in Virginia is worth nearly $22,000, roughly twice the national figure.
15. New Hampshire
> Value of land per acre: $19,840
> Total value: $114 billion (7th lowest)
> Total acres: 5.7 million (6th lowest)
> Percent land mass rural: 92.8% (14th lowest)
New Hampshire is one of the smallest states in the country, with just 5.7 million acres. The state is worth an estimated $114 billion — also one of the lower such figures nationwide. On a per acre basis, however, New Hampshire is valued at nearly $20,000, making the state the 15th most valuable in the country. Considering its relatively high value per acre, New Hampshire has an unusually high share of its population living in rural areas, at nearly 40%, roughly double the share of Americans living in rural areas in the contiguous United States. However, 92.8% of the state’s land is rural, which is the 14th lowest proportion in the country.