Land values in Chester County are continuing to climb with no signs of slowing down, writes Andrew Van Dam for The Washington Post.

This is not just the case locally. Across the nation, land values are rising more quickly than home values year over year, according to the Federal Housing Finance Agency.

“Generally, 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 amount of land in Yell, Ark., which costs just $5,300.

In Chester County, land values per acre have increased from $207,300 in 2012 to $257,700 in 2017. The highest growth over that period was in 2013, when land values jumped by 7.38 percent, followed by 2017 with 6.44 percent.

Read more about land values in The Washington Post here.

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