United States Land Values Department of Agriculture
[Pages:22]United States Department of Agriculture
National Agricultural Statistics Service
Land Values
2018 Summary
August 2018
ISSN: 1949-1867
Contents Agricultural Land Values Highlights ...................................................................................................................................... 4 Average Farm Real Estate Value ? United States: 2004-2018 Chart ..................................................................................... 5 2018 Farm Real Estate Value by State ? Dollars per Acre and Percent Change from 2017 Map .......................................... 5 Average Cropland Value ? United States: 2004-2018 Chart .................................................................................................. 6 2018 Cropland Value by State ? Dollars per Acre and Percent Change from 2017 Map....................................................... 6 Average Pasture Value ? United States: 2004-2018 Chart ..................................................................................................... 7 2018 Pasture Value by State ? Dollars per Acre and Percent Change from 2017 Map .......................................................... 7 Farm Real Estate Average Value per Acre ? Regions, States, and United States: 2014-2018 ............................................... 8 Cropland Average Value per Acre ? Regions, States, and United States: 2014-2018.......................................................... 10 Irrigated and Non-Irrigated Cropland Average Value per Acre ? States: 2014-2018........................................................... 12 Pasture Average Value per Acre ? Regions, States, and United States: 2014-2018 ............................................................. 14 Value of Farmland and Buildings ? States and United States: 2013-2017 ........................................................................... 16 Economic Regions ............................................................................................................................................................... 18 Statistical Methodology ........................................................................................................................................................ 19 Terms and Definitions........................................................................................................................................................... 20 Information Contacts ............................................................................................................................................................ 21
Land Values 2018 Summary (August 2018)
3
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 $3,140 per acre for 2018, up $60 per acre (1.9 percent) from 2017 values. Regional changes in the average value of farm real estate ranged from an 8.3 percent increase in the Southern Plains region to 1.4 percent decrease in the Northern Plains region. The highest farm real estate values were in the Corn Belt region at $6,430 per acre. The Mountain region had the lowest farm real estate value at $1,140 per acre.
The United States cropland value averaged $4,130 per acre, an increase of $40 per acre from the previous year. In the Southern Plains region, the average cropland value increased 4.7 percent from the previous year, while in the Lake region, cropland values decreased by 0.6 percent.
The United States pasture value increased by $40 per acre (3.0 percent) from 2017 values. The Southern Plains region had the highest increase from 2017 at 5.6 percent. The Pacific region remained unchanged at $1,650 per acre.
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Land Values 2018 Summary (August 2018)
USDA, National Agricultural Statistics Service
Average Farm Real Estate Value ? United States
Dollars per acre
3,500 3,000 2,500 2,000 1,500
2,950 3,020 3,010 3,080 3,140 2,730 2,520 2,010 2,170 2,090 2,150 2,300 1,830 1,610
1,340
1,000
500
0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
USDA - NASS August 2, 2018
Land Values 2018 Summary (August 2018)
5
USDA, National Agricultural Statistics Service
Average Cropland Value ? United States
Dollars per acre
4,500 4,000
4,100 4,130 4,090 4,090 4,130 3,810
3,500 3,000 2,500 2,000
3,350
2,980 2,530 2,760 2,640 2,700 2,300 2,060 1,750
1,500
1,000
500
0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
USDA - NASS August 2, 2018
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Land Values 2018 Summary (August 2018)
USDA, National Agricultural Statistics Service
Average Pasture Value ? United States
Dollars per acre
1,400 1,200 1,000
1,300 1,330 1,330 1,350 1,390 1,170 1,030 1,090 1,060 1,060 1,070 1,110 960
800
740
630
600
400
200
0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
USDA - NASS August 2, 2018
Land Values 2018 Summary (August 2018)
7
USDA, National Agricultural Statistics Service
Farm Real Estate Average Value per Acre ? Regions, States, and United States: 2014-2018
Region and State
2014
2015
2016
2017
2018
Northeast ........................................ Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ......................................
(dollars)
4,930 11,200
8,180 2,080 6,900 10,400 4,280 12,800 2,700 5,600 13,700 3,260
(dollars)
5,020 11,300
8,180 2,090 7,000 10,400 4,280 13,000 3,000 5,500 13,800 3,300
(dollars)
5,010 11,200
8,400 2,090 7,060 10,400 4,350 12,800 2,980 5,500 13,800 3,320
(dollars)
5,050 11,200
8,400 2,200 7,060 10,400 4,500 12,800 2,980 5,590 13,800 3,360
(dollars)
5,100 11,200
8,600 2,150 7,150 10,400 4,450 12,700 3,000 5,680 13,800 3,400
Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ...................................
4,640 4,700 4,750 4,400
4,740 4,900 4,700 4,700
4,730 4,800 4,700 4,750
4,890 4,800 4,750 5,200
4,890 4,780 4,700 5,320
Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................
6,370 7,520 6,950 8,500 3,100 5,550
6,350 7,500 7,150 8,000 3,350 5,750
6,290 7,400 7,150 7,850 3,400 5,700
6,260 7,300 7,000 8,000 3,350 5,650
6,430 7,450 7,100 8,080 3,700 5,740
Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota ..............................
2,280 2,050 3,120 1,820 2,070
2,340 2,030 3,050 1,920 2,320
2,240 1,880 2,950 1,830 2,250
2,200 1,850 2,900 1,840 2,180
2,170 1,800 2,850 1,830 2,170
Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................
See footnote(s) at end of table.
3,690 3,150 4,510 3,600 4,320 2,560
3,730 3,250 4,500 3,650 4,320 2,600
3,760 3,350 4,450 3,700 4,300 2,570
3,800 3,420 4,450 3,750 4,350 2,570
3,820 3,440 4,480 3,800 4,330 2,570
Change 2017-2018
(percent)
1.0 -
2.4 -2.3 1.3
-1.1 -0.8 0.7 1.6
1.2
-0.4 -1.1 2.3
2.7 2.1 1.4 1.0 10.4 1.6
-1.4 -2.7 -1.7 -0.5 -0.5
0.5 0.6 0.7 1.3 -0.5
-
--continued
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Land Values 2018 Summary (August 2018)
USDA, National Agricultural Statistics Service
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