October 10, 2025 • 7 mins
Wisconsin land prices range from $250 per acre to $25,000 per acre, depending on your county—that's a 100X difference. In this episode, host Emma Dozema sits down with Wisconsin land market expert Michael Atwater to break down exactly what drives these wild price disparities.
You'll discover the three key factors that determine land value across the state: proximity to metro areas, development potential, and recreational buyer demand. Michael shares insider insights on seasonal market timing, hidden holding costs most landowners miss, and why a 40-acre parcel in Taylor County sells completely differently than the same size lot in Waukesha County.
Whether you inherited property you're considering selling, or you're just curious about what your Wisconsin land is actually worth, this episode gives you the clarity to make informed decisions.
Resources mentioned:
Looking to sell land in Wisconsin?
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Emma (00:00):
Welcome to the Land Deal, the podcast where we explore
land opportunities, investmentstrategies, and market insights
across America.
I'm your host, Emma Dozma, andthis is episode three.
Today we're diving deep intothe Wisconsin land market, where
price disparities areabsolutely wild.
Did you know you could buynearly 100 acres in Taylor
(00:22):
County for the cost of just oneacre in Waukeshaw County?
We're breaking down exactlywhat drives these extreme
differences.
From suburban proximity torecreational appeal to the
hidden costs of holding ruralland.
Whether you're consideringselling your property or just
curious about Wisconsin realestate, you'll walk away
(00:43):
understanding the three keyfactors that determine land
values across the Badger State.
Joining me today is MichaelAtwater, an expert in the
Wisconsin land market.
Michael, welcome to the show.
Michael (00:55):
Thanks for having me, Emma.
Excited to be here.
Emma (00:58):
So let's start with that stat I mentioned.
The price gap in Wisconsin ismassive.
What's driving that?
Michael (01:04):
It really comes down to three major factors
proximity, land use potential,and what I call the recreation
premium.
Take Waukeshaw County, forexample.
You're looking at around$25,000 per acre for a 20-acre
parcel.
That's because you're withincommuting distance to Milwaukee.
(01:26):
People want space, but don'twant to sacrifice access to jobs
and amenities.
Emma (01:31):
And on the flip side?
Michael (01:33):
Counties like Taylor, Clark, and Rusk are under $5,000
per acre for the same-sizeparcel.
These are north-centralcounties, gorgeous, plenty of
forest and wildlife, but you'rehours from major employment
centers.
The land itself isn't lessvaluable in a functional sense,
but the market assigns valuebased on convenience and
development potential.
Emma (01:54):
So if someone inherited 40 acres in Taylor County and
they're thinking about selling,what should they understand
about that market?
Michael (02:01):
First, they need to know what they actually have.
Is it wooded?
Is there road access?
Any water features?
A 40-acre timber parcel withmature hardwoods is worth more
than 40 acres of scrub brush.
Second, understand the buyerpool.
In those northern counties,you're selling primarily to
recreational buyers (02:19):
hunters, cabin seekers, people wanting
weekend retreats.
That's a different salestimeline than suburban land near
Madison or Milwaukee.
Emma (02:30):
Let's talk about that suburban versus rural divide.
Waukeshaw, Walworth, Dane.
These counties command premiumprices.
What's happening there?
Michael (02:40):
Waukeshaw County is fascinating because it's
actually leading in the 10 to 20acre category now, ahead of
even the traditionalrecreational hotspots like Vilas
County.
We're seeing demand for whatpeople call estate properties,
large lots where someone canbuild their dream home, have
privacy, maybe keep some horsesbut still commute to work.
(03:02):
Walworth County with the LakeGeneva area combines that
suburban proximity with wateraccess, so you get a double
premium.
Emma (03:10):
What about those recreational counties you
mentioned?
Vilas, Oneida, Door County?
Michael (03:15):
Those are the Northwoods gems.
Vilas County leads the statefor smaller lots.
We're talking over $260,000 peracre for parcels under 10
acres.
But here's what's interesting.
When you look at 20-acreparcels, that per acre price
drops to around $23,000.
The premium is really on smalllakefront or lake access lots.
(03:38):
People want their fishing cabinor retirement getaway, and
they'll pay for it.
Emma (03:42):
So if you own land in one of these recreational counties,
timing matters?
Michael (03:47):
Absolutely.
These markets have strongseasonality.
Spring and early summer arepeak selling times when people
are thinking about their lakeplans.
Also, counties like Adams andVilas showed 245% and 199%
turnover rates, respectively, inrecent data, meaning land moves
fast when it's priced right.
But you need to understand yourcompetition.
(04:09):
Is your property lakefront,lakeview, or just in a lake
area?
That distinction is worth tensof thousands.
Emma (04:16):
Let's shift gears.
What about agricultural land?
That's a different marketentirely, right?
Michael (04:23):
Totally different buyers, totally different
metrics.
Agricultural land in Wisconsinaveraged about $6,363 per acre
in 2024, up 7% from the prioryear.
But that's misleading becauseit lumps cropland and pasture
together.
Quality cropland is pushing$7,250 per acre statewide.
(04:44):
If you've got tilable acres ina strong ag county like Rock or
Walworth, you're looking atsubstantially higher prices.
Emma (04:51):
What should someone with farm ground know if they're
considering selling?
Michael (04:55):
Know your soil.
Seriously, buyers will look atsoil maps, drainage, yield
history.
A 40-acre parcel of class oneor two soil is worth far more
than the same size with rocky,poorly drained ground.
Also, leases matter.
If you've got a tenant farmerwith a long-term lease, that can
actually make the property moreattractive to certain buyers
(05:17):
who want turnkey income.
But it can also limit yourbuyer pool if someone wants to
farm it themselves.
Emma (05:24):
What about costs?
I think a lot of landownersdon't realize what it actually
costs to hold property.
Michael (05:31):
That's huge.
Property taxes vary wildly bycounty.
Some northern counties havelower tax rates, but you're
still looking at annual costs.
Then there's liabilityinsurance, especially important
if you allow hunting or ATVaccess.
Maintenance is another hiddencost.
Are you paying someone to mow,clear brush, manage timber, and
the big one people forgetopportunity cost?
(05:52):
That money tied up in landcould be invested elsewhere.
Emma (05:55):
So when does it make sense to hold versus sell?
Michael (05:59):
If you've got quality timber that's still maturing,
holding can make sense.
Those trees are literallygrowing value.
If you're in the path ofdevelopment and there are
credible signs of growth comingyour way, waiting might pay off.
But if you inherited propertyyou're never going to use,
you're paying taxes on it everyyear, and you have no emotional
attachment, the math usuallyfavors selling and investing the
(06:19):
proceeds.
Emma (06:20):
What's one thing you wish every Wisconsin landowner knew?
Michael (06:24):
That the market isn't one size fits all.
A 40-acre parcel in AdamsCounty and a 40-acre parcel in
Waukeshaw County are completelydifferent assets with different
buyer pools, differenttimelines, different values.
Don't assume your neighbor'ssale price applies to your
property.
Get a real assessment based onyour specific land
characteristics and location.
Emma (06:45):
Michael, this has been incredibly helpful.
Thanks for breaking down theWisconsin market for us.
Michael (06:51):
My pleasure, Emma.
Happy to help.
Emma (06:54):
And that's a wrap on episode three.
Whether you're holding land youinherited, considering a sale,
or just curious about themarket, understanding these
price dynamics puts you incontrol.
Next time, we'll talk about thepaperwork nobody tells you
about title issues, easements,and how to avoid closing day
(07:15):
disasters.
I'm Emma Dusma, and this is theLand Deal.
Thanks for listening.
Welcome to the Land Deal, the podcast where we explore
land opportunities, investmentstrategies, and market insights
across America.
I'm your host, Emma Dozma, andthis is episode three.
Today we're diving deep intothe Wisconsin land market, where
price disparities areabsolutely wild.
Did you know you could buynearly 100 acres in Taylor
(00:22):
County for the cost of just oneacre in Waukeshaw County?
We're breaking down exactlywhat drives these extreme
differences.
From suburban proximity torecreational appeal to the
hidden costs of holding ruralland.
Whether you're consideringselling your property or just
curious about Wisconsin realestate, you'll walk away
(00:43):
understanding the three keyfactors that determine land
values across the Badger State.
Joining me today is MichaelAtwater, an expert in the
Wisconsin land market.
Michael, welcome to the show.
Michael (00:55):
Thanks for having me, Emma.
Excited to be here.
Emma (00:58):
So let's start with that stat I mentioned.
The price gap in Wisconsin ismassive.
What's driving that?
Michael (01:04):
It really comes down to three major factors
proximity, land use potential,and what I call the recreation
premium.
Take Waukeshaw County, forexample.
You're looking at around$25,000 per acre for a 20-acre
parcel.
That's because you're withincommuting distance to Milwaukee.
(01:26):
People want space, but don'twant to sacrifice access to jobs
and amenities.
Emma (01:31):
And on the flip side?
Michael (01:33):
Counties like Taylor, Clark, and Rusk are under $5,000
per acre for the same-sizeparcel.
These are north-centralcounties, gorgeous, plenty of
forest and wildlife, but you'rehours from major employment
centers.
The land itself isn't lessvaluable in a functional sense,
but the market assigns valuebased on convenience and
development potential.
Emma (01:54):
So if someone inherited 40 acres in Taylor County and
they're thinking about selling,what should they understand
about that market?
Michael (02:01):
First, they need to know what they actually have.
Is it wooded?
Is there road access?
Any water features?
A 40-acre timber parcel withmature hardwoods is worth more
than 40 acres of scrub brush.
Second, understand the buyerpool.
In those northern counties,you're selling primarily to
recreational buyers (02:19):
hunters, cabin seekers, people wanting
weekend retreats.
That's a different salestimeline than suburban land near
Madison or Milwaukee.
Emma (02:30):
Let's talk about that suburban versus rural divide.
Waukeshaw, Walworth, Dane.
These counties command premiumprices.
What's happening there?
Michael (02:40):
Waukeshaw County is fascinating because it's
actually leading in the 10 to 20acre category now, ahead of
even the traditionalrecreational hotspots like Vilas
County.
We're seeing demand for whatpeople call estate properties,
large lots where someone canbuild their dream home, have
privacy, maybe keep some horsesbut still commute to work.
(03:02):
Walworth County with the LakeGeneva area combines that
suburban proximity with wateraccess, so you get a double
premium.
Emma (03:10):
What about those recreational counties you
mentioned?
Vilas, Oneida, Door County?
Michael (03:15):
Those are the Northwoods gems.
Vilas County leads the statefor smaller lots.
We're talking over $260,000 peracre for parcels under 10
acres.
But here's what's interesting.
When you look at 20-acreparcels, that per acre price
drops to around $23,000.
The premium is really on smalllakefront or lake access lots.
(03:38):
People want their fishing cabinor retirement getaway, and
they'll pay for it.
Emma (03:42):
So if you own land in one of these recreational counties,
timing matters?
Michael (03:47):
Absolutely.
These markets have strongseasonality.
Spring and early summer arepeak selling times when people
are thinking about their lakeplans.
Also, counties like Adams andVilas showed 245% and 199%
turnover rates, respectively, inrecent data, meaning land moves
fast when it's priced right.
But you need to understand yourcompetition.
(04:09):
Is your property lakefront,lakeview, or just in a lake
area?
That distinction is worth tensof thousands.
Emma (04:16):
Let's shift gears.
What about agricultural land?
That's a different marketentirely, right?
Michael (04:23):
Totally different buyers, totally different
metrics.
Agricultural land in Wisconsinaveraged about $6,363 per acre
in 2024, up 7% from the prioryear.
But that's misleading becauseit lumps cropland and pasture
together.
Quality cropland is pushing$7,250 per acre statewide.
(04:44):
If you've got tilable acres ina strong ag county like Rock or
Walworth, you're looking atsubstantially higher prices.
Emma (04:51):
What should someone with farm ground know if they're
considering selling?
Michael (04:55):
Know your soil.
Seriously, buyers will look atsoil maps, drainage, yield
history.
A 40-acre parcel of class oneor two soil is worth far more
than the same size with rocky,poorly drained ground.
Also, leases matter.
If you've got a tenant farmerwith a long-term lease, that can
actually make the property moreattractive to certain buyers
(05:17):
who want turnkey income.
But it can also limit yourbuyer pool if someone wants to
farm it themselves.
Emma (05:24):
What about costs?
I think a lot of landownersdon't realize what it actually
costs to hold property.
Michael (05:31):
That's huge.
Property taxes vary wildly bycounty.
Some northern counties havelower tax rates, but you're
still looking at annual costs.
Then there's liabilityinsurance, especially important
if you allow hunting or ATVaccess.
Maintenance is another hiddencost.
Are you paying someone to mow,clear brush, manage timber, and
the big one people forgetopportunity cost?
(05:52):
That money tied up in landcould be invested elsewhere.
Emma (05:55):
So when does it make sense to hold versus sell?
Michael (05:59):
If you've got quality timber that's still maturing,
holding can make sense.
Those trees are literallygrowing value.
If you're in the path ofdevelopment and there are
credible signs of growth comingyour way, waiting might pay off.
But if you inherited propertyyou're never going to use,
you're paying taxes on it everyyear, and you have no emotional
attachment, the math usuallyfavors selling and investing the
(06:19):
proceeds.
Emma (06:20):
What's one thing you wish every Wisconsin landowner knew?
Michael (06:24):
That the market isn't one size fits all.
A 40-acre parcel in AdamsCounty and a 40-acre parcel in
Waukeshaw County are completelydifferent assets with different
buyer pools, differenttimelines, different values.
Don't assume your neighbor'ssale price applies to your
property.
Get a real assessment based onyour specific land
characteristics and location.
Emma (06:45):
Michael, this has been incredibly helpful.
Thanks for breaking down theWisconsin market for us.
Michael (06:51):
My pleasure, Emma.
Happy to help.
Emma (06:54):
And that's a wrap on episode three.
Whether you're holding land youinherited, considering a sale,
or just curious about themarket, understanding these
price dynamics puts you incontrol.
Next time, we'll talk about thepaperwork nobody tells you
about title issues, easements,and how to avoid closing day
(07:15):
disasters.
I'm Emma Dusma, and this is theLand Deal.
Thanks for listening.
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