One frequent Oregon real estate question is ‘What’s an acre worth?’ When you think about it, this question is not so different than ‘What’s a car worth?’ since in each situation there are variables. With a car, the mileage and condition are very important to arrive at an accurate value. Land, too has unique variables. What are these variables and as an Oregon property buyer or seller, what is it that you may need to know?

What follows in not an exhaustive study of determining the value of an acre, but a summary of key factors affecting the market value of acreage property. Spoiler alert: The actual answer to the value of an Oregon acre is ‘it depends.’

Research is Fundamental
There are plenty of places to find estimates on land values, including for Oregon acreages. But unless some specific and fundamental research is performed, such estimates can be meaningless, beyond providing a broad yardstick for comparison between states. Yet, even that can be a misleading endeavor. 

California Dreaming
For example, many think California land is more expensive than Oregon land. Yet an acre of land in Oregon could be worth considerably more than a California acre. How? Select one acre in Canby, Oregon (with a current population of more than 16,000)  and the other acre in tiny Canby, California, (with a current population of less than 500). The simple laws of supply and demand apply, even across state lines. So to begin, demand is a function of value. The larger the population surround a given acre, the greater the demand and hence the higher the price per acre. 

How Big Is An Acre?