7 Passive Income Ideas to Make Money & Build Wealth in 2024

6. Invest in Farmland

The agriculture industry has ample growth opportunities, especially when the world is moving towards sustainability at a fast pace. You can invest in farmland and rent it out to farmers for a steady passive income.

In the United States, a cropland’s value and rent in 2023 varies between states. In California, the average per acre value of cropland is $15,880 and pays out an average rent of $486. In Iowa, the average cost of land is $10,100 and pays out  $269 on average.