The Texas Panhandle gets its name for its proximity to the handle-shaped portion of its neighbor, Oklahoma. It is the state's least populated region. The value of farms, ranches, hunting land and other land for sale in Gray County, Texas, recently on Land.com was nearly $6 million. This represents 1,000 acres of farms, ranches, and rural real estate for sale in Gray County. Gray County ranks 237th out of 254 counties in the state for the total acreage of land currently advertised for sale. Pampa featured the most land for sale. Mining and mineral extraction-related services are the main economic drivers in this part of Texas. Gray County is the 115th largest county (929 square miles) in Texas. It's located in the Panhandle Texas region of Texas.