Land Values 2021 Summary 08/06/2021

[Pages:22]United States Department of Agriculture

National Agricultural Statistics Service

Land Values

2021 Summary

August 2021

ISSN: 1949-1867

Contents Agricultural Land Values Highlights...................................................................................................................................4 Average Farm Real Estate Value ? United States: 2007-2021 Chart....................................................................................5 2021 Farm Real Estate Value by State ? Dollars per Acre and Percent Change from 2020 Map..........................................5 Average Cropland Value ? United States: 2007-2021 Chart................................................................................................6 2021 Cropland Value by State ? Dollars per Acre and Percent Change from 2020 Map......................................................6 Average Pasture Value ? United States: 2007-2021 Chart...................................................................................................7 2021 Pasture Value by State ? Dollars per Acre and Percent Change from 2020 Map .........................................................7 Farm Real Estate Average Value per Acre ? Regions, States, and United States: 2017-2021 ..............................................8 Cropland Average Value per Acre ? Regions, States, and United States: 2017-2021.........................................................10 Irrigated and Non-Irrigated Cropland Average Value per Acre ? States: 2017-2021 .........................................................12 Pasture Average Value per Acre ? Regions, States, and United States: 2017-2021............................................................14 Value of Farmland and Buildings ? States and United States: 2016-2020..........................................................................16 Economic Regions ...........................................................................................................................................................18 Statistical Methodology.....................................................................................................................................................19 Terms and Definitions.......................................................................................................................................................20 Information Contacts.........................................................................................................................................................21

Land Values 2021 Summary (August 2021)

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USDA, National Agricultural Statistics Service

Agricultural Land Values Highlights

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,3 80 per acre for 2021, up $220 per acre (7.0 percent) from 2020. The United States cropland value averaged $4,420 per acre, an increase of $320 per acre (7.8 percent) from the previous year. The United States pasture value averaged $1,480 per acre, an increase of $80 per acre (5.7 percent) from 2020.

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Land Values 2021 Summary (August 2021)

USDA, National Agricultural Statistics Service

Average Farm Real Estate Value ? United States: 2007-2021

Dollars per acre

4,000 3,500 3,000 2,500 2,000

2,010

2,170

2,090

2,150

2,300

2,520

2,730

2,940

3,000

2,990

3,030

3,100

3,160

3,160

3,380

1,500

1,000

500

0 2007

USDA - NASS August 6, 2021

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Land Values 2021 Summary (August 2021)

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USDA, National Agricultural Statistics Service

AvveerraaggeeCrCorpolapnldanVdaluVeal?uUen?iteUdnSitteadteSs:t2a0te07s-:22002017-2021

Dollars per acre

5,000 4,500 4,000 3,500 3,000 2,500

4,420 4,090 4,100 4,040 4,030 4,050 4,100 4,100 3,810

3,350 2,980 2,530 2,760 2,640 2,700

2,000

1,500

1,000

500

0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

USDA - NASS August 6, 2021

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Land Values 2021 Summary (August 2021)

USDA, National Agricultural Statistics Service

Average Pasture Value ? United States: 2007-2021

Dollars per acre

1,600 1,400 1,200 1,000

1,030

1,090

1,060

1,060

1,070

1,110

1,170

1,290

1,310

1,320

1,330

1,370

1,400

1,400

1,480

800

600

400

200

0 2007

USDA - NASS August 6, 2021

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Land Values 2021 Summary (August 2021)

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USDA, National Agricultural Statistics Service

Farm Real Estate Average Value per Acre ? Regions, States, and United States: 2017-2021

Region and State

2017

2018

2019

2020

2021

Northeast ............................................ Connecticut .................................... Delaware ........................................ Maine .............................................. Maryland ........................................ Massachusetts ............................... New Hampshire ............................. New Jersey .................................... New York ........................................ Pennsylvania ................................. Rhode Island .................................. Vermont ..........................................

(dollars)

5,380 12,100

8,250 2,370 7,620 10,800 4,860 13,400 3,160 6,030 14,900 3,470

(dollars)

5,550 12,300

8,410 2,370 7,860 10,900 4,900 13,500 3,230 6,250 15,200 3,540

(dollars)

5,690 12,200

8,950 2,410 8,060 11,100 4,980 13,500 3,250 6,470 15,600 3,630

(dollars)

5,710 12,000

8,950 2,490 8,080 11,300 5,000 13,600 3,150 6,600 16,000 3,550

(dollars)

6,000 12,500

9,300 2,600 8,670 13,700 5,050 14,400 3,270 6,800 16,400 3,900

Lake States ........................................ Michigan ......................................... Minnesota ....................................... Wisconsin .......................................

4,880 4,940 4,870 4,870

4,890 4,960 4,850 4,900

4,900 4,960 4,840 4,950

4,860 4,950 4,840 4,850

5,240 5,300 5,240 5,190

Corn Belt ............................................ Illinois ............................................. Indiana ............................................ Iowa ................................................ Missouri .......................................... Ohio ................................................

5,990 7,160 6,580 7,350 3,120 6,010

6,110 7,280 6,580 7,270 3,380 6,200

6,100 7,280 6,580 7,190 3,400 6,290

6,110 7,400 6,600 7,070 3,400 6,350

6,580 7,900 7,100 7,740 3,700 6,600

Northern Plains .................................. Kansas ........................................... Nebraska ........................................ North Dakota .................................. South Dakota .................................

2,150 1,890 2,820 1,740 2,100

2,110 1,850 2,750 1,710 2,070

2,170 1,960 2,850 1,740 2,070

2,120 1,900 2,790 1,720 2,010

2,320 2,100 3,100 1,820 2,190

Appalachian ....................................... Kentucky ........................................ North Carolina ................................ Tennessee ..................................... Virginia ........................................... West Virginia ..................................

See footnote(s) at end of table.

3,970 3,680 4,580 3,840 4,590 2,640

4,030 3,770 4,640 3,920 4,620 2,650

4,080 3,820 4,680 3,990 4,650 2,680

4,140 3,920 4,670 4,100 4,620 2,700

4,240 4,000 4,750 4,260 4,700 2,770

Change 2020-2021

(percent)

5.1 4.2 3.9 4.4 7.3 21.2 1.0 5.9 3.8 3.0 2.5 9.9

7.8 7.1 8.3 7.0

7.7 6.8 7.6 9.5 8.8 3.9

9.4 10.5 11.1

5.8 9.0

2.4 2.0 1.7 3.9 1.7 2.6

--continued

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Land Values 2021 Summary (August 2021)

USDA, National Agricultural Statistics Service

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