Missouri is one of the best land-buying states in the Midwest, with its diverse landscapes, rich history, and abundant natural resources. But how much does land cost in Missouri, and what factors affect the price of land in different regions of the state?
At Mossy Oak Properties, our expertise lies in guiding clients through the complexities of land valuation, particularly when considering Missouri land for sale. We provide our clients with precise and current information, ensuring they make well-informed decisions in their land-purchasing endeavors.
Overview of Missouri Land Prices
According to the 2023 Missouri Farm Land Values Opinion Survey conducted by MU Extension in collaboration with the USDA National Agricultural Statistics Service (NASS), The average price for non-irrigated cropland is $8,618 per acre, while irrigated cropland fetches around $9,678 per acre. Pastureland averages $5,139 per acre, and timberland is approximately $3,994 per acre. These numbers represent a snapshot of a dynamic market influenced by several factors, including location, land type, and market conditions.
Recent Trends in Missouri Land Prices
Missouri’s land prices have been trending upward up to 2023. This trend can be attributed to high commodity prices, low-interest rates, and increasing urban proximity.
For instance, Ray Massey from the University of Missouri notes that robust farm revenue has significantly increased cropland values. We have observed a 14% increase in the value of good non-irrigated cropland compared to the previous year, indicating a healthy demand for quality land.
Variance in Prices Between Different Counties and Areas
Land prices in Missouri vary widely depending on the location, with high costs in urban areas and low costs in rural areas. For example, land in St. Louis County averages a hefty $18,000 per acre, while Mercer County’s rolling farmlands entice with prices as low as $5,000 per acre.
Factors Influencing Missouri Land Prices
Just like any other place, several factors influence land prices in Missouri. Here’s a simple breakdown of the key elements influencing land prices in Missouri:
- Economic Trends: Interest rates, inflation, and agricultural commodity prices can drive the price of land up or down.
- Agricultural Value: The farming potential of the land, based on factors such as soil fertility and water accessibility, can add to its value.
- Real Estate Market Dynamics: Ongoing urbanization trends and interest from out-of-state investors can heighten prices, especially for sought-after recreational and hunting lands.
Breakdown of Price Per Acre in Missouri by County
There are 114 counties in Missouri, so while we can’t list the average price per acre for each one, what we can do is provide you with an overview of a few so you can get an idea:
- St. Louis County: Due to its strategic location and commercial opportunities, the county boasts an average land price above $18,000 per acre.
- Jefferson County: With diverse land use opportunities, the average land price shoots to approximately $7,500-$8,000 per acre.
- Jackson County: This county’s strong growth potential pulls up the average per-acre price to around $12,000-$14,000.
- St. Charles County: Known for its rich viticulture and economic expansion, its per-acre price averages at about $9,000-$11,000.
- Platte County: Close to Kansas City and offering fertile lands, the average per-acre price is approximately $15,000-$17,000.
These figures are based on our research and reports like the Missouri Farm Bureau’s 2023 Missouri Land Values Report.
Top Real Estate Markets in Missouri
Missouri’s real estate market is vibrant and varied, with several areas standing out for land investment. Counties like Taney boast significant land values due to their economic potential and scenic beauty.
Factors such as proximity to urban areas, agricultural productivity, and recreational potential drive these regions’ attractiveness. Recent data suggest that urban areas and counties in the western region of Missouri exhibit some of the highest land values, attributed to their development potential and recreational appeal.
Average Price Per Acre in Different Land Types in Missouri
Cropland and Pasture Values
The value of cropland and pastureland in Missouri has been upward. In 2023, the price per acre for “good quality” non-irrigated cropland averaged $8,631, according to the 2023 Missouri Farm Land Values Opinion Survey conducted by MU Extension in collaboration with the USDA National Agricultural Statistics Service (NASS). Pastureland values have also risen, with “good quality” pastureland estimated at $5,139 per acre, as reported in the same survey.
These increases reflect the growing interest in agricultural land for farming and investment purposes. The variances in cropland and pasture values across different regions of Missouri also indicate diverse investment opportunities and potential returns.
Timberland and Hunting or Recreational Land Values
Timberland and hunting or recreational land in Missouri have also seen a surge in value. In 2023, timberland values averaged $3,994 per acre, while hunting/recreational land averaged $4,383 per acre.
These increases are significant compared to previous years and highlight the growing interest in land for leisure and recreational activities. The investment potential in these types of land is considerable, especially given the state’s rich natural resources and scenic landscapes.
Missouri’s land market presents various investment opportunities, with increasing cropland, pastureland, timberland, and recreational land values. The state offers diverse options for agricultural purposes, recreational activities, or residential development, catering to different investment preferences and strategies. Mossy Oak Properties provides expert guidance and insights for those interested in exploring land investment opportunities in Missouri. For more information, Contact one of our Missouri Office locations to help you in your journey to find the perfect piece of land.