11/05/2012 02:02 pm ET Updated Nov 06, 2012

Nay Pond Island, America's Cheapest Private Island, Is For Sale For $119,900 (PHOTOS)

If you’ve ever dreamed of buying your very own private island, we have some great news: America's cheapest private island is now for sale.

Nay Pond Island located in Milan, N.H. is currently listed at $119,900, according to Curbed.

Of course, you won't get much more than what you pay for. Nay Pond is only half an acre large and is home to a 400-square-foot lodge built in 1960. New Hampshire is no beach paradise either -- temperatures dip below zero degrees in the winter months.

Nay Pond Island can thank the financial crisis for its small price tag. Since the collapse of the housing market, the value of private islands has dropped around 25 percent, the Wall Street Journal reports. There are more than 600 private islands for sale around the world with dozens priced around $200,000, according to CNBC. The U.S. is home to about 21,000 named islands in total.

Hickory Island, in Brutus, N.Y. -- a 53-acre island home to coyotes, deer and other furry creatures -- can be yours for just $489,900, the Syracuse Post Standard reports. Assessed at about $28,000, Hickory Island is valued at $461,900 less than the sale price.

If Nay Pond and Hickory is still out of your price range, there are a few islands around the world available for less than $100,000, according to data analysis firm Bundle. Little Monkey Caye, a .75-acre island in Monkey River, Belize, can be yours for just $55,000.

Despite the hit private islands have taken in the real estate market, billionaires and celebrities alike have held onto their secluded treasures through the financial crisis. In 2006, David Copperfield paid $50 million for an 11 islands in the Bahamas and Tim McGraw and Faith Hill purchased 17-acre Goat Cay in the Bahamas around the same time.

Check out photos of Nay Pond Island below:

Nay Pond Island

CORRECTION: A previous version of this story incorrectly stated the assessed value of Hickory Island. The island is valued at $461,900 less than the sale price, according to the Syracuse Post Standard.