The Best Cities to Buy Land in 2024

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Investing in land presents a compelling avenue for astute investors looking to broaden their asset portfolio and create sustainable wealth. The appeal of land acquisition lies in the tendency of land values to rise over time, marking it as a stable and reliable investment. Land investing also offers the opportunity to reap tax benefits and generate passive income by leasing the land for agricultural practices or other practical purposes.

Much like any investment, potential land buyers must examine several factors such as location, zoning laws, proximity to necessary infrastructure, and the current market climate. Engaging in comprehensive research and seeking advice from seasoned land investors can guide investors toward making an informed decision that aligns with their financial goals. This blog post will highlight 15 of the top US cities for prospective land investments in 2024.

These markets are selected based on their projected potential for growth and redevelopment in the upcoming years, as reported by the Emerging Trends in Real Estate 2024 report by the Urban Land Institute and PwC. The insights in this report come from 1,260 survey responses and nearly 600 interviews with a broad spectrum of industry participants, including investors, fund managers, developers, property firms, lenders, brokers, and advisors. 

These findings are further enhanced with data from Crexi Intelligence, providing a comprehensive understanding of these markets’ potential return on investment.

What Makes a City Good for Land Investing?

Strong population growth

Cities experiencing significant population growth present unique dynamics that can be leveraged for land investing. The demand for residential and commercial spaces tends to grow with population growth. This rise in demand often leads to an increase in land value, creating opportunities for strategic acquisitions and disposals.

Economic stability

Cities demonstrating consistent economic stability are more likely to have a resilient real estate market, which can mitigate investment risk. Furthermore, a stable economy often paves the way for infrastructure development, enhancing the intrinsic value of land parcels within or near these improvements.

Job opportunities

The availability of job opportunities within a city directly impacts its attractiveness for land investment. Cities with job opportunities draw more residents, increasing the demand for housing. This, coupled with the demand from businesses seeking commercial spaces, can lead to an appreciable escalation in land prices, presenting opportunities for substantial returns.

By incorporating these factors into your research, you can identify cities that offer promising opportunities for buy-and-hold land investment strategies. Focusing on cities with robust population growth, economic stability, and ample job opportunities provides a more strategic approach to managing short and long-term returns on your investments.

15 Top Cities for Land Development in 2024

Land investing is gaining traction among investors, positioning it as a valuable component for their 2024 investment portfolios. With comprehensive research and careful due diligence, one can spot cities with solid potential for land value growth. Below are some standout USA cities offering promising land development prospects in 2024.

1. Austin

image of austin, texas downtown

Austin, renowned for its lively atmosphere and progressive mindset, presents a compelling opportunity for land investment. Despite the recent slowdown in the housing market, the city’s robust economy, tech-driven job market, and cultural diversity continue to attract potential land buyers. With a keen focus on green initiatives, Austin promotes sustainable development projects, offering an array of redevelopment possibilities, especially in popular neighborhoods such as South Congress.

Crexi Insights

Crexi Intelligence

For Sale (active)

  • Asking sale price (median): $1.72 million
  • Price/SqFt: $740
  • Median SqFt: 4,454
  • Price/Acre: $434,000
  • Median acreage/listing: 3
  • Total listings: 206
  • Days on market: 212

Sales Comps (past 12 months)

  • Median sales price: $538,000
  • Sold price/SqFt: $1,112
  • Sold price/acre: $496,000
  • Total acres sold: 446
  • Total sales volume: $746 million
  • Days on market: 269

2. San Antonio

River walk in San Antonio city downtown skyline cityscape of Texas USA at sunset

San Antonio is a city steeped in history and rich in culture. The vibrant River Walk, a network of walkways along the banks of the San Antonio River, is a hub of activity, brimming with restaurants, shops, and other attractions. San Antonio is also home to numerous universities, infusing the city with a youthful energy and intellectual vibrancy. 

A recent economic upturn has spurred significant investment in housing and redevelopment projects throughout the city, offering an array of opportunities for potential investors. Notably, San Antonio’s commitment to preserving its heritage while embracing growth and innovation creates a dynamic environment for land investment.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $783,000
  • Price/SqFt: $20
  • Median SqFt: 32,800
  • Price/Acre: $256,000
  • Median acreage/listing: 3
  • Total listings: 522
  • Days on market: 266

Sales Comps (past 12 months)

  • Median sales price: $249,000
  • Sold price/SqFt: $180
  • Sold price/acre: $126,000
  • Total acres sold: 939
  • Total sales volume: $2.32 billion
  • Days on market: 158

3. Washington DC/Northern VA

Washington DC aerial view with Thomas Jefferson Memorial building

Washington, DC, and Northern Virginia, collectively known as the DMV area, offer a dynamic environment for investment. The region’s strong economy is bolstered by diverse industries, including government, technology, and education, which contribute to its stability and growth. 

In addition, the area’s highly educated workforce, robust job market, and strategic location near major East Coast economic hubs enhance its appeal to potential investors. Meanwhile, Northern Virginia’s thriving business community continues expanding, driven by favorable tax rates and government initiatives encouraging economic development.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.65 million
  • Price/SqFt: $60
  • Median SqFt: 69,400
  • Price/Acre: $642,000
  • Median acreage/listing: 1
  • Total listings: 13
  • Days on market: 314

Sales Comps (past 12 months)

  • Median sales price: $808,000
  • Sold price/SqFt: $290
  • Sold price/acre: $1.44 million
  • Total acres sold: 606
  • Total sales volume: $839 million

4. Atlanta

Atlanta City Views

Atlanta, the bustling capital of Georgia, is a city that thrives on a robust economy, making it an enticing prospect for land investment. The city is a central hub for various industries, including finance, healthcare, and technology, housing several Fortune 500 companies like Coca-Cola and Home Depot. The region’s impressive growth rate and thriving job market have led to a residential and commercial development surge.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $995,000
  • Price/SqFt: $379
  • Median SqFt: 20,200
  • Price/Acre: $349,000
  • Median acreage/listing: 2
  • Total listings: 110
  • Days on market: 240

Sales Comps (past 12 months)

  • Median sales price: $446,000
  • Sold price/SqFt: $233
  • Sold price/acre: $136,000
  • Total acres sold: 782
  • Total sales volume: $679 million
  • Days on market: 162

5. Dallas/Fort Worth

skyline view of downtown dallas, texas

The Dallas/Fort Worth area, known as the DFW Metroplex, is an economic activity and growth powerhouse. Home to more than 20 Fortune 500 companies, including Exxon Mobil and American Airlines, the region’s diverse economy spans technology, healthcare, and financial services. 

The area’s strong job market and its strategic geographical location, which provides easy access to major markets across the country, make it an attractive destination for businesses and investors alike. Furthermore, the ongoing population growth and urban development initiatives in the DFW Metroplex signal promising prospects for land investment.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $988,000
  • Price/SqFt: $20
  • Median SqFt: 20,700
  • Price/Acre: $318,000
  • Median acreage/listing: 3
  • Total listings: 544
  • Days on market: 405

Sales Comps (past 12 months)

  • Median sales price: $366,000
  • Sold price/SqFt: $351
  • Sold price/acre: $311,000
  • Total acres sold: 1,676
  • Total sales volume: $2.58 billion
  • Days on market: 234

6. Charlotte

Panoramic view of downtown Charlotte, NC as seen from Romare Bearden Park

Charlotte is the largest city in North Carolina, offering attractive investment opportunities with its vibrant economy and dynamic growth. The city is a major financial hub, housing the headquarters of Bank of America and serving as the east coast center for Wells Fargo. Its burgeoning tech sector, complemented by a rich talent pool from universities like UNC Charlotte, adds to its allure.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.1 million
  • Price/SqFt: $100
  • Median SqFt: 3,393
  • Price/Acre: $332,000
  • Median acreage/listing: 2
  • Total listings: 95
  • Days on market: 259

Sales Comps (past 12 months)

  • Median sales price: $480,000
  • Sold price/SqFt: $407
  • Sold price/acre: $100,000
  • Total acres sold: 799
  • Total sales volume: $348 million
  • Days on market: 317

7. Houston

Houston, Texas, USA downtown city skyline and highway.

Houston offers a diverse range of opportunities for land investment. The city’s population growth significantly impacts its real estate market, making it an area worth considering for investment. New prospects in various industries have emerged, adding economic diversity and influencing real estate prices along with the traditional energy market. Key neighborhoods near major job centers show promising land value appreciation, making the market an appealing choice for both current landowners and potential investors.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.09 million
  • Price/SqFt: $103
  • Median SqFt: 41,700
  • Price/Acre: $436,000
  • Median acreage/listing: 3
  • Total listings: 735
  • Days on market: 329

Sales Comps (past 12 months)

  • Median sales price: $379,000
  • Sold price/SqFt: $318
  • Sold price/acre: $213,000
  • Total acres sold: 1,181
  • Total sales volume: $194 million
  • Days on market: 176

8. Raleigh/Durham

A look at downtown Raleigh's skyline with crepe myrtle trees blooming.

The Raleigh/Durham region presents a prime location for land investment, thanks to its rapidly expanding economy, varied employment sectors, and cultural highlights. Its closeness to Research Triangle Park and sought-after neighborhoods such as Five Points and Downtown Durham further drive its appeal. 

Current redevelopment initiatives in these areas may offer a high potential for profitable land investments. The area’s temperate climate is conducive to both development and redevelopment, making this metropolitan region a perfect choice for those interested in land investment opportunities.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.12 million
  • Price/SqFt: $23
  • Median SqFt: 33,000
  • Price/Acre: $279,000
  • Median acreage/listing: 3
  • Total listings: 112
  • Days on market: 225

Sales Comps (past 12 months)

  • Median sales price: $426,000
  • Sold price/SqFt: $421
  • Sold price/acre: $163,000
  • Total acres sold: 3,693
  • Total sales volume: $2.7 billion
  • Days on market: 473

9. Tampa/St. Petersburg

Tampa Florida skyline

With its favorable climate, robust job expansion, and vigorous economy, Tampa/St. Petersburg offers a persuasive case for potential investors. The dynamic waterfront lifestyle, thriving job opportunities, and its nearness to Orlando make it an attractive destination for those contemplating land acquisition near the water in one of the most sought-after land markets in the US.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.19 million
  • Price/SqFt: $119
  • Median SqFt: 15,700
  • Price/Acre: $615,000
  • Median acreage/listing: 2
  • Total listings: 91
  • Days on market: 224

Sales Comps (past 12 months)

  • Median sales price: $522,000
  • Sold price/SqFt: $406
  • Sold price/acre: $206,000
  • Total acres sold: 644
  • Total sales volume: $1.36 billion
  • Days on market: 334

10. Denver

downtown Denver buildings with brick stand against a cloudy and blue sky

Denver‘s appeal for land investing lies in its strong job market, steady population growth, and diverse economy buoyed by technology, aerospace, and biotechnology sectors. Neighborhoods such as Hampden South, West Colfax, and Congress Park stand out for their investment potential. The city’s vibrant lifestyle, high quality of life, and natural beauty add to the area’s attractiveness.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.97 million
  • Price/SqFt: $327
  • Median SqFt: 4,415
  • Price/Acre: $1.01 million
  • Median acreage/listing: 1
  • Total listings: 83
  • Days on market: 330

Sales Comps (past 12 months)

  • Median sales price: $639,000
  • Sold price/SqFt: $872
  • Sold price/acre: $530,000
  • Total acres sold: 1,145
  • Total sales volume: $778 million
  • Days on market: 263

11. Seattle

Seattle's public market center sign

Seattle is a leading tech hub, home to giants like Amazon and Microsoft, which fuels consistent demand for property. The city’s geographical constraints – sandwiched between the Puget Sound and Lake Washington – naturally limit available land, creating a competitive market. Moreover, Seattle’s commitment to sustainable development aligns with the increasing demand for green building practices, presenting unique investment opportunities in the future-focused sector.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $2.32 million
  • Price/SqFt: $383
  • Median SqFt: 8,986
  • Price/Acre: $771,000
  • Median acreage/listing: 30
  • Total listings: 42
  • Days on market: 169

Sales Comps (past 12 months)

  • Median sales price: $879,000
  • Sold price/SqFt: $448
  • Sold price/acre: $889,000
  • Total acres sold: 29
  • Total sales volume: $152 million
  • Days on market: 280

12. Phoenix

A view of downtown Phoenix at night. On the left the Phoenix stadium and high rises on the horizon taken with long exposure from a balcony. The warm yellow lights from the buildings against the blue sky make for a dramatic city scape.

Phoenix is one of the fastest-growing US cities and offers exciting land investment opportunities. The city also ranks among the top 10 markets for multifamily investment in 2023, indicating a strong demand for housing. The metro area’s robust economic performance, driven by critical assets such as the Phoenix-Mesa Gateway Airport and Deer Valley, contributes to its thriving job market. Additionally, its warm weather, coupled with its strategic location in the metropolitan area, continues to attract a surge in population, making it an attractive destination for investors.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $995,000
  • Price/SqFt: $184
  • Median SqFt: 18,000
  • Price/Acre: $486,000
  • Median acreage/listing: 3
  • Total listings: 150
  • Days on market: 236

Sales Comps (past 12 months)

  • Median sales price: $523,000
  • Sold price/SqFt: $272
  • Sold price/acre: $486,000
  • Total acres sold: 1,026
  • Total sales volume: $2.1 billion
  • Days on market: 294

13. Sacramento

Sacramento Walks, California shots, United States of America, June

Sacramento, the fastest-growing big city in California, is experiencing a significant population increase and job growth, offering enticing opportunities for land investment. The region’s diverse economy, with top industries such as government, health services, and education driving job growth, combined with its sprawling metropolitan area, makes it a magnet for population growth. Furthermore, Sacramento’s unique position as a hub for innovation and investment opportunities enhances its appeal for future land development and commercial real estate investment.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $1.35 million
  • Price/SqFt: $29
  • Median SqFt: 25,300
  • Price/Acre: $522,000
  • Median acreage/listing: 2
  • Total listings: 117
  • Days on market: 362

Sales Comps (past 12 months)

  • Median sales price: $614,000
  • Sold price/SqFt: $293
  • Sold price/acre: $364,000
  • Total acres sold: 730
  • Total sales volume: $967 million
  • Days on market: 947

14. Tacoma

Mount Rainers seems to be right on top of a neighborhood in Tacoma, Washington.

As part of the larger Seattle metropolitan region, the Tacoma metro area is witnessing a significant population surge, increasing nearly 12% since the last census in 2010. The city’s ongoing revitalization of its downtown area and the forecasted growth to reach almost 5 million people by 2040 position it as an attractive prospect for land investment. 

Its unique geographic location between Seattle and the state capital, Olympia, combined with a vibrant job market fueled by technology, healthcare, and maritime sectors, contribute to Tacoma’s potential as an attractive investment hub.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $604,000
  • Price/SqFt: $55
  • Median SqFt: 17,800
  • Price/Acre: $1.41 million
  • Median acreage/listing: 1
  • Total listings: 24
  • Days on market: 211

Sales Comps (past 12 months)

  • Median sales price: $357,000
  • Sold price/SqFt: $310
  • Sold price/acre: $164,000
  • Total acres sold: 166
  • Total sales volume: $130 million
  • Days on market: 86

15. Salt Lake City

Salt Lake City is ripe with opportunities for land investment due to its robust population growth and expanding industries. The city’s technological sector is flourishing, with a significant 12% increase in tech jobs since 2019, making it a new tech paradise. With strategic initiatives focusing on corporate recruitment, retention, and expansion, Salt Lake City’s proactive approach to nurturing economic development provides a conducive environment for profitable land investments.

Crexi Insights

For Sale (active)

  • Asking sale price (median): $3.5 million
  • Price/SqFt: $28
  • Median SqFt: 215,000
  • Price/Acre: $921,000
  • Median acreage/listing: 2
  • Total listings: 35
  • Days on market: 260

Sales Comps (past 12 months)

  • Median sales price: $864,000
  • Sold price/SqFt: $467
  • Sold price/acre: $805,000
  • Total acres sold: 126
  • Total sales volume: $373 million
  • Days on market: 132

Ready to invest in land? Find your next property on Crexi.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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