If you look at Land as a long term investment, it is generally worth it. As mentioned by several, land is generally going to appreciate in value rather than spending money on a lease or anything like that where the money is just gone.

One thing that many folks fail to consider is property taxes though. Land that is designated as agriculture use typically will have MUCH lower property taxes than recreational land. Some states have minimum %'s that have to be tillable vs. timbered to qualify. Depending on the state and the type of land, property taxes can be as low as $2 per acre or as high as $20 or $30 per acre. That can make quite a bit of difference!

I bought land just over 3 years ago and I think it was worth it to me. I'm really looking forward to spending time with my son hunting and in Texas private land is really the only option.

With that said, I ended up hunting in Wyoming and New Mexico more than I hunted my own property this year, but that was just because I got really lucky on my draws this year.