Systems and methods for location estimation and tracking for passive RFID and wireless sensor networks in accordance with embodiments of the invention are disclosed. In one embodiment, a process for obtaining location information using an RFID reader system includes transmitting a combined interrogation and ranging signal from a plurality of antennas, where the ranging signal is a pseudorandom signal, receiving a backscattered return signal from an RFID tag at one or more receive antennas, extracting an information signal from the return signal and decoding the information signal to obtain RFID tag data, extracting a received ranging signal from the return signal, and estimating a range to the RFID tag based upon correlation between the ranging signal and the received ranging signal.