Q:

How can you determine the cost of land per acre?

A:

Quick Answer

To determine the cost of land per acre, begin by obtaining the measurements of the size of the land or measuring the land yourself and converting that measurement to acres. Take the appraisal value of the land and divide it by the acreage.

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Full Answer

If there is no current appraisal of the land on record, consult or hire an appraiser or land surveyor to assess the value of the land. Many times, this assessment is based on where the land is located, what structures, if any, are built on the land, if there are any naturally occurring resources known to be inherent on the property and the value of any similar land around the area. If there are 2 acres of land and the value of the land is $30,000, then the value of the land per acre is $30,000 divided by 2, or $15,000 per acre.

To convert square feet to acres, divide the square footage by the number 43,560. For example, if the land measures 100,000 square feet, when it is divided by 43,560, the product is about 2.3 acres. To convert square miles to acres, multiply the square mileage by the number 640. For example, 1 square mile, when multiplied by 640, is 640 acres.

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