How Much Is an Acre of Land in Oregon?

The value of an acre of land in Oregon is not fixed, but determined by numerous variables. Each parcel’s worth is a unique calculation. This article explores the primary factors that determine land value across Oregon, to help individuals understand the valuation process.

Average Land Prices in Oregon

Land prices across Oregon vary significantly by property type and location. As of 2024, the median price for an acre statewide is approximately $3,200. Agricultural land, for instance, had a nominal per-acre value of $3,720 for farm real estate, with irrigated cropland at $7,650 per acre and pastureland around $1,050 per acre.

Agricultural land is often less expensive per acre than residential land, especially in urban or suburban areas. Average farm real estate in Oregon was valued at approximately $2,890 per acre in a 2023 report, reflecting an 8.6% increase from the previous year. However, prime farmland in areas like the Willamette Valley commands much higher prices, while rangeland in Eastern Oregon is considerably less.

Factors Influencing Oregon Land Values

Zoning and land use designations are primary determinants of a land parcel’s market value, dictating permitted uses like residential, commercial, industrial, agricultural, or forest. Different zoning categories directly affect potential development, demand, and price. For instance, land zoned for high-demand commercial development near major roadways commands a higher price than land restricted to agricultural use.

Access to utilities (water, sewer, electricity, internet) impacts land value. Parcels connected to essential utilities and roads demand premium pricing compared to those requiring infrastructure development. Lack of these services means a buyer incurs substantial installation costs, reducing effective land value. Public road access is also more desirable than access solely via an easement.

Topography and usable acreage are additional considerations. Flat, fertile land suitable for building or farming costs more than rugged, hilly, or less accessible terrain. Features like wetlands, floodplains, or steep slopes limit usable space and decrease value. Soil quality and water rights are relevant for agricultural land, where rich soil and secured water rights increase a property’s worth. Timber and mineral rights, if applicable, also add value.

Proximity to amenities and services, such as towns, schools, hospitals, and recreational areas, enhances land value. Land near established communities offers convenience, boosting desirability and price. The potential for future development, including subdivision, contributes to its value. Environmental considerations, such as protected areas or required cleanup, impose restrictions affecting market appeal and appraisal.

Oregon’s Regional Price Differences

Oregon’s diverse geography leads to variations in land prices across its distinct regions. The Portland Metropolitan Area exhibits the highest land values, with residential or development land reaching hundreds of thousands of dollars per acre. In this densely populated region, the median price per acre for land listings is around $58,207. Clackamas, Multnomah, and Washington Counties recorded average farm real estate values above $20,000 per acre in 2022.

Moving south, the Willamette Valley features agricultural land, vineyards, and suburban residential properties. Farmland here is valued at over $20,000 per acre, especially in areas known for high-value crops like wine grapes and specialty produce. An acre in the Willamette Valley ranges from $20,000 to over $100,000, depending on its specific location and attributes.

Along the Oregon Coast, scenic properties and tourism influence values, varying widely by ocean frontage and development potential. Central Oregon, particularly around Bend and Redmond, experienced rapid growth and high demand for recreational land. An acre in Central Oregon ranges from $10,000 to over $100,000, with the median price per acre around $31,118.

Southern Oregon, including Medford and Ashland, has a diverse agricultural and recreational land market. While less expensive than urban centers, values are influenced by local economic drivers and natural resources. Eastern Oregon land commands lower prices per acre due to its vast, rural nature, suitable for ranches and large-scale agriculture. Counties such as Harney, Grant, Gilliam, and Wheeler had farm real estate values below $1,400 per acre in 2022, though many Eastern Oregon counties have seen significant percentage gains in value since 2017. The median price per acre in Eastern Oregon is approximately $3,917.

How to Research Land Values

Several resources are available to assess land values for specific properties or areas. Online real estate platforms are a starting point, as many popular websites list land for sale, allowing users to filter by location, acreage, and price. These platforms provide insights into asking prices and recent sales, offering a broad market overview.

County Assessor’s Offices maintain public records for property research, tracking values, sales data, and characteristics for tax assessment. Most county websites offer online search tools to look up specific parcels and review assessed values and sales history. This information helps understand how factors like zoning and property improvements influenced past valuations.

Consulting with local real estate agents specializing in land transactions provides deeper insights. These agents possess expertise in specific areas and access Multiple Listing Service (MLS) data, including detailed sales information not always publicly available. They offer local market insights and guidance.

For a formal valuation, engaging a professional appraiser is advisable, especially for purchasing or financing a land parcel. Certified appraisers conduct thorough analyses, considering all influencing factors and market comparables to provide an unbiased estimate of value. Local government planning departments also provide detailed zoning information and future development plans that could impact a property’s value. They clarify permitted land uses and regulations affecting a potential project.