The word "cheap" is often used to describe something that is worthless. However when the word is used to describe land then it would obviously be a misnomer being as there is no such thing as worthless land. The proof of this would be to visit any county tax assessor's office in the United States and see if there are any tracts of land in the 50 states assessed for zero value on the property tax roles. Thus the word "cheap" as applied to land can only be used to designate a relative price level.
The most expensive priced parcel of land in the United States might be around $80 million per acre (over $2,000 per square foot) while the cheapest would be in the vicinity of $200 per acre (1/2 cent per square foot). However, that doesn't mean that the most expensive land always offers the best investment possibilities. In reality it might be easier for the cheapest land at $200 per acre to increase in price to $400 per acre than it would be for the most expensive land at $80 million per
acre to increase to $160 million per acre.
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