How Much Is an Acre? The Size and Cost of an Acre, Explained

An acre is a unit of area used to describe a precise amount of land. It is most frequently used in the English-speaking world—particularly the United States. The concept of an acre dates back to the Middle Ages. In Old English custom, an acre represented the amount of land that a team of eight oxen could plow in one day. While many cultures have abandoned the acre and instead measure land in square meters, the term remains prevalent in American land surveys and real estate listings. To put the size of an acre in perspective, consider it in terms of other measurements. An acre of land covers the same amount of space as: - 4,046.86 square meters - 43,560 square feet - 4,840 square yards - 0.01 square furlongs - 0.002 square miles - 0.405 hectares One acre is equal to roughly 16 tennis courts or nine basketball courts. One American football field is roughly 1.32 acres, and removing the end zones would make the field almost exactly one acre. A one-acre lot in an urban area is considered quite expansive, but in rural areas, multi-acre parcels routinely come on the market. The price per acre of a parcel of land will vary by geographic location. A 2015 study by the US Bureau of Economic Analysis estimated that the average cost per acre in the lower 48 United States is $12,000. This average price per acre is not uniform throughout the nation, however. A single city block in New York or Los Angeles may have a higher price than the total price for 100 rural acres in Arizona or Kansas. A quarter-acre lot in a New Jersey suburb may cost as much as a 20-acre ranch in New Mexico. The value of land for sale may depend on numerous factors. 1. __Rural vs. suburban vs. urban location__: Denser areas tend to cost more per acre (or per square footage). An acre of American farmland will typically cost a fraction of the cost of an acre of urban land. 2. __Infrastructure__: Properties are more valuable when serviced by roads, sewers, electric grids, and Internet access. Proximity to shopping, schools, and hospitals can also add value. 3. __Economic activity__: It costs more to buy land in areas of intense economic activity. Depending on market conditions and access to economic opportunities, a one-bedroom apartment in San Francisco, California, may cost as much as an entire farm in the Florida panhandle. 4. __Topography__: Land that is relatively flat and easy to build on may come at a premium price. Jagged, rocky terrain or areas prone to flooding may be cheaper in terms of price per acre. 5. __Supply and demand__: Local demand for certain types of property can have a far greater effect on land price than the available acreage. Rural states have, on average, lower prices per acre than heavily urban and suburban states. As of 2020, the five states with the most affordable land per acre are: 1. __Wyoming__: Average cost of $1,558 per acre 2. __Nevada__: Average cost of $2,116 per acre 3. __South Dakota__: Average cost of $2,135 per acre 4. __Montana__: Average cost of $2,283 per acre 5. __North Dakota__: Average cost of $2,517 per acre 6. __Nebraska__: Average cost of $2,936 per acre 7. __Idaho__: Average cost of $3,435 per acre 8. __Kansas__: Average cost of $4,220 per acre 9. __Arizona__: Average cost of $4,328 per acre 10. __Utah__: Average cost of $4,664 per acre All investments, including real estate investments, come with inherent risks which may involve the depreciation of assets, financial losses, or legal ramifications. The information presented in this article is for educational, informational, and referential purposes only. Consult a licensed real estate or financial professional before making any legal or financial commitments. All you need is a [MasterClass Annual Membership](https://www.masterclass.com) and our exclusive video lessons from prolific entrepreneur Robert Reffkin, the founder and CEO of the real estate technology company Compass. With Robert’s help, you’ll learn all about the intricacies of buying a home, from securing a mortgage to hiring an agent to tips for putting your own place on the market. In the United States real estate market, a piece of land is often measured in acres.