Land values in Delaware County are rising, writes Andrew Van Dam for The Washington Post.

Across the nation, land values are increasing more quickly than home values, year over year, according to the Federal Housing Finance Agency.

“Land tends to appreciate faster than structures because when housing demand changes, you can build more structures, but you can’t build more land,” said William Larson of the FHFA.

However, there is a huge discrepancy in the cost of land in different parts of the country. An acre of land in Brooklyn Heights in Kings, N.Y., costs $41,160,300, nearly 7,800 times more than the same plot of land in Yell, Ark., which costs just $5,300.

In Delaware County, land value per acre has decreased from $328,000 in 2012 to $322,000 in 2017. The main reasons for this drop were decreases in land values between 2014 and 2015.

The last two years have reversed this trend, though, with land prices increasing by 3.87 percent in 2016 and 6.17 percent in 2017.

Read more about land values in The Washington Post by clicking here.

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