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 overall value of land and rural real estate for sale in Gray County recently on Land.com was almost $7 million. This represents approximately 2,000 acres of ranches, farms, hunting land and other rural land and acreage for sale in Gray County. Gray County ranks 230th out of 254 counties in the state for the total acreage of land currently advertised for sale. Pampa had the most land for sale. Economically speaking, Gray County's is largely dependent on mining and mineral extraction-related businesses and services. Gray County is the 115th biggest county (929 square miles) in Texas. It's located in the Panhandle Texas region of Texas.