The purpose of the Homestead Act of 1862 was to encourage western migration and settlement in the United States by granting 160 acres of public land to settlers for a nominal fee, provided they improved the land through farming or building. The act aimed to promote agricultural development and facilitate the growth of American frontier communities. By allowing families and individuals to claim land, the Homestead Act contributed to the expansion of the U.S. westward and played a crucial role in shaping the economic, social, and demographic landscape of the nation during the 19th century.