The land we hunt is a friend of my Dad's he is gracious enough to let us hunt for some meat if we get anything. The land has been in the family for generations.
We put up stands over the years with no new ones this year. I spent $50 on seed and fertilizer. I figure license is a wash because I get combo license to fish as well. The biggest expenses for me is time and gas. The hunt site is 40 miles one way from my house. Three of us hunt 120 acres so all the road clearing, planting, shooting lanes cleared, stand repair, stand moving is done by mostly me and my Dad. A lot of time is involved, and I really cherish the time spent with him and my Son. The hunting part of it is what we do all the work for and that is another of the big rewards, so far this year we have taken 4 deer between us and let a few others walk.
I really try not to think of the money involved per pound. If we were to hunt a club or lease the average around here is probably about $800 a year or $1600 for me and Dad before we would even start to hunt. I think we come out way ahead if I figure it that way.