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Then as now, the price of a plot of land depends on location, location, location.
In 1848, the cost of an acre of land varied widely depending on location, quality, and demand. In the United States, the average price of an acre of land ranged from $1 to $20, with prime agricultural land in the Midwest commanding higher prices. Factors such as proximity to transportation networks and urban centers also influenced land prices during this time period.
$1.25 per acre, and you could only receive up to 160 acres.
money
Where at? Farm land? Commercial land? Building plot? So much factors into that...