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How Much Does an Acre of Land Cost In Ohio In 2023?

How Much Does an Acre of Land Cost In Ohio In 2023?

You can see it in your mind’s eye: Your dream home, your dream yard, your dream neighborhood. When it’s time to build a brand new home, your dream gets closer to reality when you select a location. But how much should you budget for land in Ohio? We'll tell you the average price per acre in Ohio as well as for many popular areas in and around Cincinnati

How Much Land is an Acre?

An acre measures 43,560 square feet, which is about 20 yards shy of a football field. If you’re looking for a suburban lot outside of Cincinnati, or a lot within one of the popular neighborhoods of Cincinnati, most will be less than an acre.

 

How much does an acre of land cost in Ohio?

According to the World Population Review, the average price for an acre of land in Ohio is around $32,000. However, the average cost per acre for farmland in Ohio is around $7,200, which brings down the overall average. Although the price is much lower, farmland will cost much more to develop for a custom home build and will not likely have easily-accessible city utilities.

If you dream of a remote retreat, inexpensive farmland might be for you. Although, having amenities nearby, being closer to top-rated schools, and being part of a close-knit community may be more in line with your lifestyle.

 

How much does an acre of land cost in the Cincinnati, Ohio, Area?

Developed land for sale in Ohio that's located in residential areas or planned neighborhoods are rarely more than a half acre in size. In fact, many are less than 10,000 square feet (or less than 1/4 acre) with most less than 5,000 square feet (or less than 1/8 acre). So, how much is the price of land in the most popular areas around Cincinnati, Ohio?

Land for sale in one of the most desirable cities in the Greater Cincinnati area, such as Madeira, could cost around $200,000 for 1/4 acres.

To build your custom home closer to the city center—such as in the neighborhoods of Columbia-Tusculum, Hyde Park, or Mount Lookout—expect to pay up to $200,000 for 1/8 acres. 

In Cincinnati's picturesque suburban enclaves, such as Symmes or Montgomery, Ohio, expect a 1/2 acre lot of land to cost $150,000 on average. 

 

What Affects the Price per Acre in Ohio?

The condition of the land as well as where it is located will be the major drivers of price per acre in Ohio. Wooded, undeveloped land will cost significantly less than waterfront property, for example. 

 

Chris Gorman Cincinnati House On Land

What questions should I ask when buying land?

The price of an acre of land around Cincinnati depends on how much it will cost to develop the land before construction on your custom home can even begin. A drastically lower price tag might reflect an undesirable location or land that will be too costly to develop. Ask questions when selecting land for your custom home to avoid unanticipated expenses or surprises later in your project. 

Here are some questions we encourage prospective buyers to ask about a lot when planning to build a custom home in the Cincinnati area:

  • What utilities are available? Many new developments include available utilities such as water, sewer, and gas for convenient neighborhood access.

  • How much will this cost to prepare the land for construction? You will want to know how much excavation and tree removal will be necessary for the land to be ready for custom home construction.

  • Are there any surveys available? You need information about the boundaries and the land features, such as bodies of water. Seek information on wells, soil quality, and drainage where appropriate. Undeveloped land may need soil moisture or toxicity mitigation, which can add to your budget

  • What are the current taxes on the property? The zoning, location, structures, and size will affect the property taxes. 

  • Who owns the surrounding area? Are any construction projects planned? This is especially important if the surrounding area is not yet developed. Just because you are surrounded by rolling hills now doesn’t mean you won’t end up part of a bustling metropolis in a few years. Enquire about the zoning and ownership around your land.

 

How do I find land for sale?

Some clients need help finding a lot to build on, and some already own a lot. If you need help finding land for sale, we suggest starting with your custom home builder. They will be well-connected with realtors who will be able to point you in the right direction, depending on your custom home needs. If you have a dream location and can find its owner, some clients have had success cold calling and making an offer on undeveloped land. You’ll never know unless you try! 

If you’d like even more information about finding land for a custom home, download this comprehensive Custom Home Building Guide ebook.

 

Your perfect Ohio Custom home, from the ground up

At Chris Gorman Homes, we're driven to create your dream custom home in the best area for you and your family. It begins with finding the right land and we're here to help assess the land you're interested in before you even put in a bid. Our neighborhood expertise has helped us pair many happy clients with their dream locations, and we’re pleased to use our knowledge to help you find the perfect spot to begin your new chapter. 

View our online portfolio to imagine what's possible and contact us to schedule a consultation to learn more about our design-build process

 

how do i buy land, your guide to buying land chris gorman homes

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