For agricultural farmland or rural residential tracts, what unit of comparison is commonly used?

The commonly used unit of comparison for agricultural farmland or rural residential tracts is price per acre. This measurement is particularly relevant in these contexts because land is often sold or valued based on its total area. The acre is a standard unit of measurement in the United States and is particularly applicable for larger parcels of land, making it a more intuitive and effective way to assess value than smaller units like square feet.

In agricultural settings, the productivity and use of the land are often tied to its area, hence using price per acre helps buyers and sellers to understand the value in relation to how much land is available for farming or development. This unit of measurement also allows for a straightforward comparison of prices and values across different properties that may vary in size.

Using price per lot is less applicable because lot sizes can vary significantly, leading to inconsistencies in valuation. Similarly, price per square foot is typically more relevant for smaller residential properties or urban settings rather than larger tracts of land. The term "price per catalytic unit" is not a standard term used in real estate or land valuation and does not apply to the context of agricultural or rural residential properties.