Michigan's Upper Peninsula is more of a forrested region and not as populated as the lower. There's a lot of mining for minerals in the UP. Because it is pretty far up north and there are not a lot of cities or people up there. There is a LOT of open land, so it is pretty cheap.
How much does 1 acre of land go for in Michigan?
Michigan's cropland value decreased slightly from the previous year to $4,500 per acre. The Lake States region experienced a 1% decrease to $4,760 per acre. The average value of cropland in the U.S. increased $50 from 2018 to $4,100 per acre.16 ago 2019
How much do land cost in Michigan?
In the Southern Lower Peninsula, the average value of tiled field cropland was $5,121 per acre while non-tiled field cropland averaged $4,092 per acre. In the Upper and Northern Lower Peninsula tiled and non-tiled field crop land averaged $2,443 and $2,219 per acre, respectively.
What price is land per acre?
The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,380 per acre for 2021, up $220 per acre (7.0 percent) from 2020. The United States cropland value averaged $4,420 per acre, an increase of $320 per acre (7.8 percent) from the previous year.6 ago 2021
Is it good to buy land in Michigan?
Buying Land in Michigan. Now is an excellent time to purchase land in Michigan. There has not been a period in our lifetimes better to purchase hunting land or to buy farm land. Property values have dropped significantly over the past few years and land loan rates are also very attractive.28 jul 2011
How much does 1 acre of land cost in Michigan?
Agricultural-Use Farmland Values In the Southern Lower Peninsula, the average value of tiled field cropland was $5,121 per acre while non-tiled field cropland averaged $4,092 per acre. In the Upper and Northern Lower Peninsula tiled and non-tiled field crop land averaged $2,443 and $2,219 per acre, respectively.
Is land expensive in Michigan?
The average price of farms, ranches and other land parcels for sale in Michigan is $287,980. ... U.S. News & World Report ranks Michigan as one of the country's top ten states for its cost of living. In terms of landmass, Michigan is the country's 11th-largest state, encompassing 96,810 square miles (62 million acres).