The Mountain West is a region filled with stunning natural beauty, encompassing states like Utah, Montana, Idaho, and Wyoming. These states are known for their rugged terrain and unique beauty, filled with massive open landscapes and high arching peaks. None of these states are particularly densely populated and developed, with each having populations that rank in the bottom half of the United States.
Land is abundant in the Mountain West because each of these states isn’t overly developed. Buying land in the Mountain West isn’t the same as purchasing land on the Southern California coastline or in the Tri-State area. You can find massive plots of land on sale for prices that will be significantly lower than in other states.
Let’s look at some key details about land buying opportunities in the Mountain West.
Why Buy Land in the Mountain West?
As we’ve mentioned, the Mountain West encompasses some of the biggest and least densely populated states in America. This provides a unique advantage to those that are looking to purchase land. There are more affordable plots of land that can be found and significantly bigger ones. While the Mountain West doesn’t produce as much agriculturally as the Midwest, it is a critical area for cattle farming and ranching, with states like Wyoming being famed for the practice.
Purchasing land is a popular investment because it is an ideal source of passive income. Even if you aren’t looking to develop your land or even use it, you can allow it to sit there and appreciate. It isn’t like purchasing a home, where constant investment and upkeep are required. When you purchase land, you are investing in an area someday being worth more than it currently is, and that won’t require much work.
When you purchase land in the Mountain West, you can either develop it, build a home on it, do agricultural work, ranch on it, or let it sit there and appreciate. While developing the land will require more investment and work, it’ll allow you to profit off the area immediately, as well as in the future.
Whatever decision you make, purchasing land in the Mountain West appears to be a better idea than ever before. There has been a migration of people to the region, with property values skyrocketing across the Mountain West. This will likely lead to a surge in land value in the area as well.
Mountain West Land Breakdowns
Every area of the Mountain West offers something different. Let’s look at some of the important information on land buying opportunities in Idaho, Montana, Wyoming, and Utah, using information from LandWatch.
Idaho has $4 billion of land, ranches, and farms for sale. The average cost of one of these is $939,181, but buyers can find large parcels of land available for less than $50,000; it will likely be very underdeveloped. Idaho is famed for its agriculture, including potatoes, cattle, and dairy farming.
Montana is a huge state, and it ranks seventh in the country for the combined acreage that is currently for sale. There is $4 billion of land and ranches for sale in Montana, encompassing 700,500 acres of land. Montana is a hotspot for wheat, barley, and hay farming and is a massive cattle farming state.
Wyoming has $2 billion of land, ranches, and farms for sale, encompassing 416,615 acres. Wyoming is a destination for hunters and fishers, and many who purchase property in this state will use it for access to the fly-fishing and white-tail deer hunting that the state offers.
Utah offers $4 billion worth of rural land, ranches, and farms for sale, encompassing 327,492 acres. Utah’s agriculture is powered by the livestock that lives on the land, which makes up three-quarters of the state’s farm revenue. In cities like Salt Lake City and Park City, prices have surged in recent years, so the cost of living in Utah is climbing.
The Mountain West is famed for its spaciousness and the wildlife and natural beauty within. Purchasing land here is viable as a long-term investment, as, even though land is abundant here, it is still a valued commodity. Whether you’re looking to hold the land and add to your portfolio or monetize it, purchasing land in the Mountain West is an exciting and impactful decision.
