Are you dreaming of building a house, starting a farm, or investing in real estate in Kentucky? Or you want to convert your existing property into real cash in this beautiful state. Knowing how much is an acre of land in Kentucky is very important before dreaming further.
This state has various types of land like residential, commercial, lush forests, wetlands, rolling hills, etc. So the worth of land might also differ based on the demand of land buyers and its availability.
In this blog post, we’ll look at what affects land prices in different parts of the state. Also, we will explore the land prices from the lush Bluegrass region to the industrial area. So, get ready to learn about buying a piece of this beautiful state, ensuring you invest wisely to fulfill your dream!
How Much Is an Acre Worth in Kentucky
According to the latest real estate research, Kentucky’s land value has increased 13% from last year. Currently, an acre of land in Kentucky is worth, on average, $2600 to $6250. But it depends on various factors, so look at the table for details.
| Types of Land in Kentucky | Lowest Price Per Acre | Highest Price Per Acre |
| Residential Land | $12,000 | $29,000 |
| Industrial Land | $35,000 | $90,000 |
| Commercial Land | $30,000 | $45,000 |
| Farmland | $4,700 | $5,700 |
| Forestland | $1,200 | $3,200 |
Residential Land Worth in KY
On average, the value per acre of residential land in Kentucky is around $12,000 to $29,000. But it varies depending on several factors like location, accessibility, land type, etc. For example, you might get 1 acre for only $11,000 to $15,000 in a cheap city like Middlesboro.
On the other side, you have to pay around $25,000 to $50,000 per acre in Hopkinsville. If you are an investor, then you should invest in highly demanding land for the highest ROI. But if you are looking to build a house to live in, then you will find one based on your budget.
Industrial Land Worth in Kentucky
Another high-demanding and expensive piece of land is industrial land in Kentucky. The average value of industrial land in Kentucky, especially near Louisville, is around $35,000 to $90,000 per acre. Because it is near the Ohio River and has good connectivity with all sides of the province.
This industrial area (Louisville) is one of the best for seamless manufacturing and smooth supply. So, if you want to invest in industrial land, then you should research Zillow and other real estate sites.
Commercial Land Price in KY
Commercial land prices in Kentucky vary based on location, parcel size, and potential. In busy areas like Lexington, land prices can be $40,000 to $80,000 per acre or more for universities and major roads nearby. In growing cities like Somerset, commercial land costs between $30,000 and $45,000 per acre.
However, we have researched various online platforms and local land markets in KY. Then Superland Buyer defines that the average commercial land price is around $20,000 to $50,000 per acre.
Farmland Price Per Acre in Kentucky
Farmland prices in Kentucky have seen significant growth, like 2X or more, over the past decade. Remember that there are different types of land like cropland, pasture land, hunting land, etc. Let’s explore how much an acre of farmland costs in Kentucky:
- Grazing land (pastureland): These lands are the king of Kentucky farmland, these rolling hills are ideal for cows and horses. The prices range from $3,900 to $4,870 per acre for these pasturelands in this state.
- Cropland: Kentucky Sunshine grows corn, soybeans, and tobacco on this land. You need to pay $5,000 to $9,450 per acre to buy these types of land.
- Hayfields: Hayland is typically the most affordable, it will cost $2,500 to $6,500 per acre.
- Orchard Heaven: Kentucky is famous for growing delicious apples, peaches, and cherries. However, the orchard land price can be around $15,000 to $25,000, depending on the fruit.
- Chicken clucks and turkey gobbles: Kentucky’s poultry farms keep us fed, the price of this land is around $31000 to $49000 per acre.
Also, there are many types of agricultural land available in Kentucky. Such as a veggie garden, Christmas tree land, pastureland, etc. So, we can define the average farmland worth per acre as $4,700 to $5,700 in Kentucky.
Forestland Price in KY
One of the cheapest land types is forestland in Kentucky, with an average cost of around $1200 to $3200 per acre. But it depends on the use and potential. Wooded land for hunting or recreation typically costs between $1,500 and $3,000 per acre.
Again, if the land has valuable timber, the price can go up to $4,000 per acre or more. Other factors, such as how easy it is to access and how close it is to roads, can also affect the price.
5 Key Factors of 1 Acre of Land Worth in Kentucky
Though you have an idea about the estimated worth of 1-acre land in Kentucky, this is not always applicable to all land. Because there are a few factors behind any land value, check them out:
- Land Use: The use of the land, means that the potential of the land significantly impacts its price. For example, commercial land costs about $20,000 to $50,000 per acre, while prime cropland can be $5,000 to $9,400 per acre.
- Location: Land near urban areas with highways or with scenic views like lakes or mountains costs more. Industrial land near Louisville might be $80,000 per acre, but similar land in rural areas could be $20,000 per acre or less.
- Size and Shape: Larger, regularly shaped parcels are more valuable, especially for development. Smaller lots in residential areas can be pricier per acre due to higher demand.
- Utilities and Infrastructure: Land with access to utilities like water, sewer, and internet is more valuable. Especially when people look for commercial and industrial uses.
- Additional Considerations: Features like wetlands and environmental concerns can attract land buyers. So the price of any land might be high for any special features that attract buyers.
By following these things, you might identify a price very close to your land’s real price. Additionally, you can compare similar types of land in the same locations. Moreover, a professional realtor can provide the best solution to buying or selling land in Kentucky.
Conclusion
So we are now at the end of the “How much is an acre of land in Kentucky” blog. Finally, we have found the average cost per acre in this Bluegrass state is around $2600 to $6250. But the value of land may vary a lot depending on location, type, and potential.
Usually land in remote areas is cheaper than cities, suburbs, and commercial areas. Kentucky has a diverse landscape, and the price of an acre shows this variety from $1,200 to $90,000 per acre.
Remember that in this guide, we have just shown the price of land from different listings and advertisements. If you want to learn more about the exact price of land in Kentucky to make dreams into reality, Contact Superland Buyer.
FAQs:
What’s the Average Price of an Acre in Kentucky?
Firstly, land prices in Kentucky can vary depending on location, purpose, and features. However, currently, the average price is between $2600 to $6250 per acre. But remember that some areas can be significantly higher or lower from this range.
How Much Is a Downpayment on Land in Kentucky (Bluegrass State)?
Down Payments for land depend on the seller’s terms and your financing options. Generally, traditional lenders may want 20-25% down, and private sellers might offer more flexibility.
Is Buying Land in Kentucky a Good Investment?
Absolutely, land value in Kentucky has increased nearly 13% in the last year. So land can be a good and valuable long-term investment in a growing state like Kentucky. But consider factors like potential development, resource availability, and agricultural use. Also, consulting with a land specialist can help you assess the specific investment potential of a property.
