Montana is the fourth-biggest state in the United States, covering an area of 147,040 square miles (94 million acres). Of this area, 145,546 square miles (99.0 percent) of the state is land, while the remaining 1,494 square miles (1.0 percent) is made up water (defined as inland lakes, Great Lakes water, coastal waters or territorial waters). Lands of America research shows that 62 percent of land in Montana is privately owned. Recent Lands of America data shows the average value of land for sale in Montana is $4,497 per acre, which represents data from 1,854 properties for sale at an average list price of $1,206,179 (the most expensive listing being for $35 million). The median listing size was 717 acres, with a maximum size of 64,000 acres. Based on its price-per-acre value, Montana is currently one of the five cheapest states country for rural land. Among the 57 counties in Montana, Madison County
featured the most listings, while Flathead County
was the county with the most recent sales. According to U.S. Census Bureau data, Montana had 28,008 farms totaling 60 million acres, placing the state at number 31 in the country with respect to the number of farms in the state; the state ranks second given the size of its farming acreage (Montana ranks ninth when factoring total agriculture acreage as a proportion of the entire state).