All the land in the US is worth $23 Trillion:
That’s William Larson’s estimate for the value of the 1.89 billion acres of land that accounts for the 48 contiguous states and the District of Columbia. The dollar figure — equal to about 1.4 times last year’s gross domestic product – represents only the value of the land, and not buildings, roads or other improvements, and excludes bodies of water.
He also determined values for every state. California is worth the most at $3.9 trillion and Vermont is worth the least at a paltry $44 billion. On a per acre basis, New Jersey has the most valuable land at $196[,41o] an acre and Wyoming the least, $1[,557] an acre.
His estimates reflect the land’s value in 2009. Therefore it shows a post-recession figure (he says country’s value fell 24% from 2006 to 2009) and doesn’t account for the changes in value due to the shale-gas activity in the Midwest and elsewhere.
Some key findings:
- The federal government owns 24% of all land, worth a collective $1.8 trillion. (That’s 8% of the country’s total value, or around 10% of the total outstanding federal debt.)
- Just 5.8% of U.S. land is developed, but that land accounts for 50.7% of the total value.
- Almost half, 47%, of U.S. land is used for agriculture.
A typical state is just 7 percent developed, with a land value of just $10[,000] per acre. D.C., on the other hand, is 87 percent developed, with a land value just over $1,000[,000] per acre.