Updated: Sep 14, 2019
People are making moves to Utah, and we wanted to find out why. And frankly, it’s pretty easy to see the appeal once you realize how great of an opportunity it is to own Utah land right now. Below are 5 reasons investors are buying land for sale in Utah:
Great value - Affordable Investment
Great looks - Natural Beauty
Great outdoors - Endless Adventures
Great outlook - Optimistic Economy
Great possibilities - Undeveloped and Unrestricted
1. Affordable Investment
Whether you're shopping for a place to call home or looking for the next property to add to your portfolio–Utah land is a first-rate pick. Land and Farm found that the average price of undeveloped Utah land for sale is over $340,000. However, land for sale across the state is averaging out at $5,000 an acre and compared to surrounding states is a very affordable option for buyers or first-time investors. And believe it or not, you can scoop up your piece of undeveloped Utah land for a fraction of the average at just about $1,000/acre!
2. Natural Beauty
Utah’s good looks are turning heads and captivating investors. In case you hadn’t heard, Utah is known for having a vast variety of terrain, offering features ranging from arid deserts with sand dunes to thriving pine forests in mountain valleys. It has one of the diverse landscapes with parts of the Rocky Mountains, the Great Basin, and the Colorado Plateau all within state lines. Its natural beauty and unique landscapes are seen as a huge value add to investors wanting to build a portfolio with diverse properties. Who wouldn't want to view one of Utah's breathtaking backdrops from their own backyard?
3. Endless Adventures
Utah has the third most national parks of any state and is home to eight national monuments, seven national forests, two national recreation areas, and world renowned ski resorts. Each corner of Utah offers a uniquely different landscape and everywhere in between presents endless opportunities for outdoor enthusiasts. Interest in Utah has increased so much that the population of Southwest Utah is rapidly growing and has become a popular recreational and retirement destination– investors can see the growing demand for Utah properties and are strategically buying land for sale now.
4. Optimistic Economy
It’s not just the elevation that puts Utah above many other states. According to WalletHub’s study, Utah ranked 1st for economic health and 2nd for economic activity in 2019. The state is also historically one of the most positive about the direction of their state’s economy with a median household income $8,022 higher than the median US household income. Tourism is undoubtedly a large contributor as a thriving industry in Utah with visitors spending over $9 Billion each year. The overall strong health of Utah’s economy and trending growth is a great sign for investors, especially when land is selling at an affordable price.
5. Undeveloped & Unrestricted
And Utah land isn’t just pretty to look at. A vast majority of Utah land for sale is undeveloped and offers unlimited possibilities for an investor, often for well below the average price per acre. Undeveloped land, also referred to as raw land, has no utilities, no structure or pre-defined building site which means owners have the flexibility to make it their own, or income producing, pending zoning laws. That’s why many investors aim to find unrestricted land to get the best deal and the most freedom for their future buyer to do whatever their heart desires. And if you’re looking to make an even more affordable investment, consider owner financing.
And now that you know why investors are buying Utah land, you can get in on the action too!
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Bonus Land Fact
Despite the growing demand, Utah’s supply of available land is inherently limited with nearly 70 percent of Utah land currently owned and managed by the federal government. With a cap on available land and a growing population, you’ll want to get your piece of Utah land while you can!