A new analysis says, despite being the 11th largest state in the continental United States, the value of the land in Utah is among the lowest in the country.
Wall Street 24/7 says the study pegs the value of all the land in the contiguous U.S. at $23 trillion. The value of land in rural areas is lower compared to urban ones. Developed areas are worth $106,000 per acre while undeveloped land is valued at $6,500 per acre. Farmland is significantly lower at just $2,000 per acre.
According to the survey, the land in Utah is 38th most valuable at $4,664 per acre. That's mostly because a large portion of the land in the state is owned by the federal government.
38. Utah
> Value of land per acre: $4,664
> Total value: $247 billion (20th lowest)
> Total acres: 53.0 million (11th largest)
The federal government owned 68.8% of the land in Utah, which no doubt helped account for the state’s low land valuation. The high share of federally owned land may decline in the near future, however. In 2012, Utah Governor Gary Herbert signed the Transfer of Public Lands Act, demanding that the federal government give up its land holdings — roughly 31 million acres — in by December 31, 2014. The federal government did not meet Utah’s demand, which will likely incite legal battles in the coming years.
The state's with the most valuable land:
1. New Jersey – $196,410/acre
2. Rhode Island – $133,730/acre
3. Connecticut – $128,824/acre
4. Massachusetts – $102,214
5. Maryland – $75,429/acre
The states at the bottom:
44. Montana – $2,283/acre
45. South Dakota – $2,135/acre
46. Nevada – $2,116/acre
47. New Mexico – $1,931/acre
48. Wyoming – $1,558/acre
