I absolutely believe in what Dedgeez said. I personally think MOST folks with ANY income range could afford to buy land IF disciplined and motivated enough. A guy making $10/hour (or working an extra part time job to cover the cost) COULD put together a 5-20 acre piece in many cases, in my strong opinion.
I'd have to disagree with you on a guy making $10/hr. being able to afford a small land purchase. I don't even see how a guy can buy a home and support a family on $10/hr. We would all own land if it wasn't a financial burden. Many people are still looking for a job, and many more would like to find a better paying job. Unfortunately the pay scale is below the national average in Iowa, and that is the reason many NRLO's won't move here.
$10/hour- that group after tax credits, deductions, etc will essentially pay no taxes (income taxes) - if you want evidence of that, let me know (only the top 52% of wage earners pay income taxes when it's all said and done). Ok, so you WANT land bad enough SO you work 65 hours a week SO you can save (nothing permanent BUT just so you can get ground and save $). Ok- that's $650 a week. Ok, so you get a small apartment OR room with someone- $600/month living (OK- so if you have 2 kids, maybe it would be harder & not do-able BUT in SOME of those instances, the wife might work enough to pay for child costs). You eek by with food ($150/month for a single guy) and maybe 300-400 in other expenses like gas, etc, etc- let's just say $350. SO, INCOME of $2860 per month (650x4.4 weeks on avg per month) - 600/lower cost rent - $500 gas/food, etc LEAVES $1760 per month. You save $1500 of that for ONE YEAR = $18,000. At 1/3rd down, you can buy a $54,000 farm AND at $2,000 per acre you buy 27 acres. I know this BECAUSE THIS WAS ME 10 years ago. Some of my friends in FAR BETTER circumstances will ALWAYS have an excuse they can't get land for the next 40 years. Kids, don't want to work that much, want to travel, didn't prepare, can't save, like electronics & new gadgets, etc. I have one buddy who makes $38k a year that bought a $25k Bass boat BUT could NEVER afford a 25 acre parcel of land. And sure, I get it, there's folks with 4 kids and wife doesn't WANT to work- ok- that's a choice too. OR bad stuff happens, etc, etc, etc. There's always 5 MILLION reasons folks can't buy ground. Maybe someone isn't willing to work an extra job OR work more than 40 hours a week (not saying working 60-70 hours is FUN but it won't kill you!) - that's a CHOICE too. For the FRACTION of guys that are willing to sacrifice for a period & be VERY disciplined, there's always a way to make it happen. And sure, I know you're putting all sorts of holes in my random guesses on income, extra expenses, other life issues, etc- I know my math is not perfect and you're thinking of all these scenarios why folks can't buy ground BUT the folks who REALLY want to and are willing to do what it takes, will always find a way.
