1 Farmlands can have an average cost between $5,000 to $8,000 per acre. 2  There can be cheaper land in some locations with an average cost of around $1,000-$5,000 per acre.3  These are areas that have no timber or structures. 4  The geographical location is going to greatly influence the overall price per acre. The pricing is very hard to pinpoint, unless you know exactly where you want to search. 2  Mentioned below are factors and land estimates to consider. 3  Farmlands can have an average cost between $5,000 to $8,000 per acre. 4  There can be cheaper land in some locations with an average cost of around $1,000-$5,000 per acre.