The Most (and Least) Valuable States
16. South Carolina
> Value of land per acre: $17,610
> Total value: $339 billion (24th lowest)
> Total acres: 19.3 million (10th lowest)
> Percent land mass rural: 92.1% (13th lowest)
More than 9% of South Carolina land is developed. While this is one of the higher percentages nationwide, developed land accounted for just over 25% of the state’s overall value, a relatively small percentage. South Carolina is one of the smaller states in the country, with a total of 19.3 million acres.
> Value of land per acre: $16,903
> Total value: $387 billion (21st highest)
> Total acres: 22.9 million (12th lowest)
> Percent land mass rural: 93.0% (16th lowest)
Unlike most states where property is more valuable per acre than the national figure, Indiana had relatively large percentages of land classified as both developed and as farmland. Nearly 11% of the state is developed, and 64.5% is agricultural, each among the highest such figures nationwide.
> Value of land per acre: $16,752
> Total value: $716 billion (10th highest)
> Total acres: 42.7 million (19th highest)
> Percent land mass rural: 96.4% (23rd lowest)
While only 6% of land in Washington is developed, this property accounted for more than half of the state’s total value of $716 billion, the 11th highest proportion in the contiguous U.S. Perhaps as a result, an acre of land in Washington is worth nearly $17,000 on average, over $4,000 more than the average value nationwide.
19. North Carolina
> Value of land per acre: $16,230
> Total value: $506 billion (14th highest)
> Total acres: 31.2 million (21st lowest)
> Percent land mass rural: 90.5% (10th lowest)
North Carolina’s total acreage is estimated to be worth just over $500 billion, which is 14th in the country. Per acre, land in the Tar Heel State is worth $16,200, ranking 19th in the continental U.S. Just over 10% of the state’s area is considered developed, compared to 5.8% of the lower 48 states. That developed property accounts for about 35% of the state’s total value.
> Value of land per acre: $14,411
> Total value: $380 billion (22nd highest)
> Total acres: 26.4 million (16th lowest)
> Percent land mass rural: 93.0% (17th lowest)
An average acre of land is worth $14,400 in Tennessee, just higher than the $12,100 per acre in the lower 48 states. Like in other states, a large portion of Tennessee’s value came from its developed land, even though this accounted for less than 10% of the state’s land. Just 8.1% of Tennessee’s land is owned by the federal government, compared to the 23.6% of all land in the contiguous U.S. Federal land tends to be worth less, and the low share of government land in the state likely increases Tennessee’s overall land value.