How Much Is Land in Wyoming Per Acre?

Wyoming’s expansive landscapes and independent spirit create a distinctive environment for land ownership and valuation. The price per acre varies significantly due to geographical features, economic forces, and specific property characteristics. This variability makes a singular “average price” misleading.

General Overview of Land Values

Land values in Wyoming exhibit a broad spectrum, reflecting the state’s diverse geography and economic activities. The average value for farm real estate, including all land and buildings, was reported at $975 per acre in 2024, a slight increase from $880 per acre in 2023. These averages represent only a segment of the market.

The median price per acre for all land listings in Wyoming can be considerably higher, around $14,000 to $14,348. This highlights the impact of land type and location on valuation. Prices can range from a few thousand dollars to tens of thousands per acre. For instance, desirable areas like Jackson Hole can command prices exceeding $1 million per acre, illustrating extreme variations.

Key Factors Influencing Land Prices

The location of a property plays a substantial role, with land situated closer to established towns, major highways, or popular national parks generally commanding higher prices. Conversely, remote parcels might be less expensive, although their value can still be considerable if they offer unique attributes. Accessibility is also a factor, as properties with direct road frontage or established easements are typically more valuable than landlocked parcels that require additional infrastructure development or access agreements.

Water rights and availability are important in Wyoming’s arid climate for agricultural, ranching, and residential uses. Wyoming operates under the prior appropriation doctrine, meaning water rights are distinct from land ownership and acquired through historical usage. Secure, senior water rights enhance a property’s value, as water access is essential for sustained use. Properties with mineral rights, such as oil, gas, or other subsurface resources, can also see their prices escalate.

The land’s physical characteristics, including topography and terrain, influence its value. Flat, easily buildable land is often more desirable and expensive than rugged or mountainous terrain, which presents development challenges. Zoning regulations and local land-use restrictions dictate permitted uses, impacting a property’s potential and market price. Existing improvements like structures, utilities, or fencing add substantial value, reducing initial investment for a buyer. Natural features, such as scenic views, proximity to rivers, lakes, or forests, and access to public lands, contribute to a property’s amenity value.

Understanding Different Land Categories

Agricultural and ranch land constitutes a significant portion of Wyoming’s acreage and varies widely in value. The average cost to buy farm land, including improvements, can be around $4,213 per acre, while ranch land might average $2,105 per acre in listings. In 2024, average cropland values were about $1,960 per acre, with irrigated cropland reaching approximately $3,300 per acre due to its higher productivity. Non-irrigated cropland averaged $1,090 per acre, and pasture land was valued at around $740 per acre.

Residential land values are highly dependent on location, ranging from a few thousand dollars per acre in remote rural settings to significantly higher amounts in suburban or highly sought-after areas. A typical neighborhood lot in a suburban area might cost around $60,000, while prime residential parcels in exclusive locales like Jackson Hole can exceed $1 million per acre. The average listing price for residential land across Wyoming, considering a mix of properties, can indicate a per-acre value of approximately $30,000.

Recreational land, often sought for hunting, fishing, or other outdoor pursuits, typically costs around $4,358 per acre based on average listing prices. Hunting properties specifically can average about $1,872 per acre, though properties with exceptional big game opportunities in western Wyoming can command premium prices. More affordable hunting properties can be found in eastern Wyoming. Some recreational parcels, particularly those without building or water well access, may be available for as low as $17,500 for a 40-acre tract.

Commercial and industrial land values are generally higher due to their potential for business development and often reflect prices per square foot in urban areas rather than per acre. The average price for commercial land listings in Wyoming can be around $88,000 per acre, reflecting properties with development potential. Specific industrial parcels may start from approximately $65,000 per acre, depending on zoning, infrastructure, and location benefits. These categories are influenced by factors like traffic visibility, utility access, and proximity to transportation networks, which are paramount for business operations.

Accessing Current Market Data

Online real estate listing platforms are a primary starting point, offering a wide array of properties for sale across different categories and regions. These platforms provide details such as acreage, listed price, property features, and often include photographs and virtual tours. However, listed prices may not always reflect the final sale price, and the data can sometimes be outdated.

Engaging with local real estate agents specializing in land sales provides access to market knowledge. These professionals often have insights into recent sales, off-market properties, and specific nuances of local land values that are not publicly available. They can also assist in navigating property boundaries, access issues, and local regulations.

For a more official and detailed understanding of property valuations and sales history, county assessor’s offices are an important resource. These offices maintain public records of property assessments, ownership information, and past sales data, which can be useful for research.

For a definitive valuation, a professional land appraisal is recommended. Certified appraisers conduct thorough evaluations, considering market conditions, property characteristics, and recent comparable sales, to provide an unbiased estimate of value. For agricultural land, Wyoming’s property tax valuation is based on productivity, with the taxable value calculated at 9.5% of the total land value per acre.