Michigan Land For Sale Under $10 000 (2024)

FAQs

How much is 1 acre of land worth in Michigan? ›

According to the Michigan Realtors association, the average price per acre of vacant residential land in Michigan as of 2022 was around $16,500. However, land prices can range from as low as $2,000 per acre in rural, undeveloped areas to over $100,000 per acre in desirable recreational and waterfront locations.

Michigan offers abundant natural beauty, four distinct seasons, excellent recreational opportunities, and affordable rural land prices. However, there are also downsides like brutal winters, isolated parcels, and cumbersome regulations. Deciding whether buying land in Michigan makes sense depends on several factors.

The average price of farmland for sale in Michigan is $664,150. Discovery more Michigan farmland and land for sale near you on Land and Farm. Our extensive database of properties includes a wide variety of land types, from rural acreage and farms to commercial properties and recreational retreats.

In Michigan, the homestead exemption is available to anyone who owns and occupies a residential property as their primary residence. The property must be located on 40 acres or less of land, and you must have lived in the property for at least 730 days prior to filing for bankruptcy.

If you own real property in Michigan, you are required to pay taxes on it. Even if the real property was gifted to you through an estate or you own a rental real property, you are still required to pay it. There is no minimum or maximum amount to pay on your real property in Michigan to pay real property taxes.

It is usually cheaper to buy a home than build a new one. However, by building your own home you get a brand-new residence, customized to your needs. It costs $216,780 on average to build a home in Michigan. This figure can add up to $366,780 if you include land costs, excavations, permits, and other expenses.

New Structures & Land Improvements

A structure shall not be built on the land except for use consistent with farm operations, which includes a residence for an individual essential to the operation of the farm. Land improvements shall not be made except for uses consistent with farm operations.

Property Tax/Assessing. Agricultural property in Michigan is taxed at 50 percent above the national average, which is a significant cost. We support: Lowering or eliminating agricultural property taxes in Michigan.

How much do farmers make per acre in Michigan? ›

Farm real estate values in Michigan were up 10.4 percent from 2021. Michigan is in the Lake States region, which also includes Minnesota and Wisconsin. The Lakes States region value was $5,960 per acre, up 13.7 percent from 2021.

At first glance, how to calculate price per acre (PPA) is a relatively simple equation. It is the value of your property (v) divided by the number of acres (a). So, v ÷ a = PPA. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number.

An acre of land is about the size of a football field. The value of an acre of land varies quite a bit depending on a number of factors. The average cost of land in the contiguous United States is about $12,000 per acre.

According to the Congressional Research Service, Michigan spans 36.5 million acres. Of that total, 9.97 percent, or 3.6 million acres, belonged to the federal government as of 2012. More than 32 million acres in Michigan are not owned by the federal government (3.32 non-federal acres per capita).