United States Land Values Department of Agriculture€¦ · 4 Land Values 2018 Summary (August...
Transcript of United States Land Values Department of Agriculture€¦ · 4 Land Values 2018 Summary (August...
United States Department of Agriculture National Agricultural Statistics Service
ISSN: 1949-1867
Land Values 2018 Summary August 2018
Land Values 2018 Summary (August 2018) 3 USDA, National Agricultural Statistics Service
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
4 Land Values 2018 Summary (August 2018) 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.
Land Values 2018 Summary (August 2018) 5 USDA, National Agricultural Statistics Service
1,340
1,610 1,830
2,0102,170 2,090 2,150
2,3002,520
2,7302,950 3,020 3,010 3,080 3,140
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Dollars per acre
Average Farm Real Estate Value – United States
USDA - NASSAugust 2, 2018
6 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
1,750
2,060 2,300
2,5302,760
2,640 2,7002,980
3,350
3,8104,100 4,130 4,090 4,090 4,130
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Dollars per acre
Average Cropland Value – United States
USDA - NASSAugust 2, 2018
Land Values 2018 Summary (August 2018) 7 USDA, National Agricultural Statistics Service
630
740
9601,030
1,090 1,060 1,060 1,0701,110
1,170
1,300 1,330 1,330 1,3501,390
0
200
400
600
800
1,000
1,200
1,400
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Dollars per acre
Average Pasture Value – United States
USDA - NASSAugust 2, 2018
8 Land Values 2018 Summary (August 2018) 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 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Northeast ........................................ Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ...................................... Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................
4,930 11,200 8,180 2,080 6,900
10,400 4,280
12,800 2,700 5,600
13,700 3,260
4,640 4,700 4,750 4,400
6,370 7,520 6,950 8,500 3,100 5,550
2,280 2,050 3,120 1,820 2,070
3,690 3,150 4,510 3,600 4,320 2,560
5,020 11,300 8,180 2,090 7,000
10,400 4,280
13,000 3,000 5,500
13,800 3,300
4,740 4,900 4,700 4,700
6,350 7,500 7,150 8,000 3,350 5,750
2,340 2,030 3,050 1,920 2,320
3,730 3,250 4,500 3,650 4,320 2,600
5,010 11,200 8,400 2,090 7,060
10,400 4,350
12,800 2,980 5,500
13,800 3,320
4,730 4,800 4,700 4,750
6,290 7,400 7,150 7,850 3,400 5,700
2,240 1,880 2,950 1,830 2,250
3,760 3,350 4,450 3,700 4,300 2,570
5,050 11,200 8,400 2,200 7,060
10,400 4,500
12,800 2,980 5,590
13,800 3,360
4,890 4,800 4,750 5,200
6,260 7,300 7,000 8,000 3,350 5,650
2,200 1,850 2,900 1,840 2,180
3,800 3,420 4,450 3,750 4,350 2,570
5,100 11,200 8,600 2,150 7,150
10,400 4,450
12,700 3,000 5,680
13,800 3,400
4,890 4,780 4,700 5,320
6,430 7,450 7,100 8,080 3,700 5,740
2,170 1,800 2,850 1,830 2,170
3,820 3,440 4,480 3,800 4,330 2,570
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 -
See footnote(s) at end of table. --continued
Land Values 2018 Summary (August 2018) 9 USDA, National Agricultural Statistics Service
Farm Real Estate Average Value per Acre – Regions, States, and United States: 2014-2018 (continued)
Region and State 2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 1 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 1 ...................................... New Mexico 1 ............................... Utah 1 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 2 .................................
3,630 2,600 5,250 3,300 3,010
2,640 2,850 2,670 2,340
1,790 1,580 1,850
1,070 3,740 1,350 2,360
860 1,080
520 2,030
630
4,520 7,300 2,050 2,500
2,950
3,670 2,630 5,400 3,270 3,010
2,780 3,050 2,800 2,420
1,890 1,700 1,940
1,100 3,780 1,440 2,470
890 1,130
510 2,050
660
4,780 7,700 2,120 2,700
3,020
3,730 2,700 5,400 3,400 3,000
2,820 3,050 2,900 2,470
1,930 1,800 1,960
1,110 3,800 1,420 2,500
900 1,110
520 2,040
660
4,940 7,900 2,200 2,850
3,010
3,870 2,750 5,700 3,550 3,000
2,910 3,180 3,000 2,500
2,050 1,900 2,090
1,130 4,100 1,430 2,600
920 1,110
530 2,070
660
5,370 8,700 2,310 3,000
3,080
3,870 2,780 5,700 3,500 3,010
2,980 3,250 3,100 2,540
2,220 2,000 2,280
1,140 4,200 1,420 2,700
920 1,130
530 2,100
660
5,550 9,000 2,370 3,150
3,140
- 1.1
- -1.4 0.3
2.4 2.2 3.3 1.6
8.3 5.3 9.1
0.9 2.4
-0.7 3.8
- 1.8
- 1.4
-
3.4 3.4 2.6 5.0
1.9
- Represents zero. 1 Excludes American Indian Reservation land. 2 Excludes Alaska and Hawaii.
10 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Cropland Average Value per Acre – Regions, States, and United States: 2014-2018
Region and State 2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Northeast ........................................ Delaware ..................................... Maryland ..................................... New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 1 ............................. Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................
5,260 7,880 6,470
13,000 2,530 5,840 7,020
4,670 4,500 4,870 4,350
7,000 7,700 7,050 8,750 3,810 5,650
3,090 2,260 5,180 2,050 3,430
3,780 3,550 4,200 3,400 4,460 3,210
5,330 7,950 6,470
13,500 2,600 5,900 7,090
4,730 4,550 4,800 4,700
6,840 7,650 7,000 8,200 3,810 5,850
3,130 2,210 5,070 2,140 3,730
3,830 3,720 4,100 3,470 4,440 3,250
5,390 8,200 6,530
13,000 2,580 6,100 7,090
4,740 4,500 4,750 4,900
6,710 7,450 7,000 8,000 3,770 5,800
2,960 2,050 4,850 2,000 3,520
3,840 3,770 3,970 3,600 4,430 3,160
5,350 8,100 6,530
13,000 2,580 6,000 7,200
4,830 4,450 4,800 5,200
6,670 7,350 6,700 8,100 3,820 5,780
2,830 1,970 4,550 2,000 3,330
3,890 3,850 3,970 3,640 4,480 3,160
5,480 8,300 6,620
12,900 2,600 6,260 7,200
4,800 4,350 4,800 5,150
6,710 7,450 6,700 8,100 3,820 5,850
2,830 2,010 4,540 2,000 3,270
3,920 3,880 3,990 3,710 4,460 3,150
2.4 2.5 1.4
-0.8 0.8 4.3
-
-0.6 -2.2
- -1.0
0.6 1.4
- - -
1.2
- 2.0
-0.2 -
-1.8
0.8 0.8 0.5 1.9
-0.4 -0.3
See footnote(s) at end of table. --continued
Land Values 2018 Summary (August 2018) 11 USDA, National Agricultural Statistics Service
Cropland Average Value per Acre – Regions, States, and United States: 2014-2018 (continued)
Region and State 2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 3 .................................
3,730 2,850 6,500 3,080 2,460
2,510 2,540 2,380 2,570
1,630 1,500 1,680
1,690 8,320 1,840 3,040
987 2,670 1,450 3,260 1,370
5,860
10,140 2,500 2,560
4,100
3,770 2,850 6,560 3,160 2,460
2,600 2,630 2,500 2,620
1,770 1,590 1,840
1,740 8,320 1,910 3,200
997 2,670 1,440 3,300 1,370
6,160
10,690 2,600 2,630
4,130
3,920 2,950 6,730 3,410 2,460
2,680 2,710 2,620 2,680
1,820 1,640 1,890
1,760 8,300 1,910 3,300 1,010
(D) 1,450 3,340 1,370
6,330
10,910 2,730 2,760
4,090
3,940 3,000 6,750 3,420 2,500
2,760 2,790 2,740 2,720
1,930 1,740 2,010
1,780 8,400 1,920 3,400 1,020
(D) 1,480 3,420 1,350
6,570
11,290 2,860 2,890
4,090
3,990 3,080 6,810 3,420 2,540
2,820 2,850 2,830 2,780
2,020 1,810 2,100
1,810 8,450 1,910 3,520 1,030
(D) 1,480 3,480 1,350
6,780
11,740 2,930 2,920
4,130
1.3 2.7 0.9
- 1.6
2.2 2.2 3.3 2.2
4.7 4.0 4.5
1.7 0.6
-0.5 3.5 1.0 (X)
- 1.8
-
3.2 4.0 2.4 1.0
1.0
- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Includes: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii.
12 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Irrigated and Non-Irrigated Cropland Average Value per Acre – States: 2014-2018 [Only states with significant irrigated acreage appear in this table]
Regions, States, and land type
2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Corn Belt Missouri, all cropland .................................... Irrigated ................................................... Non-irrigated ........................................... Northern Plains Kansas, all cropland ...................................... Irrigated ................................................... Non-irrigated ........................................... Nebraska, all cropland .................................. Irrigated ................................................... Non-irrigated ........................................... South Dakota, all cropland ............................ Irrigated ................................................... Non-irrigated ........................................... Southeast Florida, all cropland ....................................... Irrigated ................................................... Non-irrigated ........................................... Georgia, all cropland ..................................... Irrigated ................................................... Non-irrigated ........................................... Delta Arkansas, all cropland ................................... Irrigated ................................................... Non-irrigated ........................................... Louisiana, all cropland .................................. Irrigated ................................................... Non-irrigated ........................................... Mississippi, all cropland ................................. Irrigated ................................................... Non-irrigated ........................................... Southern Plains Oklahoma, all cropland ................................. Irrigated ................................................... Non-irrigated ........................................... Texas, all cropland ........................................ Irrigated ................................................... Non-irrigated ...........................................
3,810 4,750 3,730
2,260 3,280 2,150
5,180 7,100 4,000
3,430
(D) 3,400
6,500 7,430 5,630
3,080 3,430 2,950
2,540 3,000 1,840
2,380 2,270 2,420
2,570 2,930 2,390
1,500 (D)
1,480
1,680 1,880 1,650
3,810 5,130 3,700
2,210 3,270 2,090
5,070 6,870 3,970
3,730
(D) 3,700
6,560 7,570 5,610
3,160 3,600 3,000
2,630 3,100 1,900
2,500 2,400 2,530
2,620 3,030 2,420
1,590 (D)
1,580
1,840 2,050 1,800
3,770 5,100 3,660
2,050 3,000 1,940
4,850 6,560 3,800
3,520
(D) 3,500
6,730 7,600 5,900
3,410 4,000 3,200
2,710 3,200 1,950
2,620 2,550 2,650
2,680 3,150 2,460
1,640 (D)
1,620
1,890 2,050 1,860
3,820 5,300 3,700
1,970 2,850 1,870
4,550 6,180 3,550
3,330
(D) 3,300
6,750 7,650 5,900
3,420 4,070 3,180
2,790 3,300 2,000
2,740 2,700 2,750
2,720 3,230 2,480
1,740 (D)
1,720
2,010 2,200 1,980
3,820 5,220 3,700
2,010 2,900 1,910
4,540 6,150 3,550
3,270
(D) 3,250
6,810 7,710 5,950
3,420 4,550 3,010
2,850 3,380 2,050
2,830 2,790 2,850
2,780 3,320 2,520
1,810 (D)
1,790
2,100 2,400 2,050
-
-1.5 -
2.0 1.8 2.1
-0.2 -0.5
-
-1.8 (X)
-1.5
0.9 0.8 0.8
-
11.8 -5.3
2.2 2.4 2.5
3.3 3.3 3.6
2.2 2.8 1.6
4.0 (X) 4.1
4.5 9.1 3.5
See footnote(s) at end of table. --continued
Land Values 2018 Summary (August 2018) 13 USDA, National Agricultural Statistics Service
Irrigated and Non-Irrigated Cropland Average Value per Acre – States: 2014-2018 (continued) [Only states with significant irrigated acreage appear in this table]
Region, State, and land type
2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Mountain Arizona, all cropland 1 ............................................ Irrigated ........................................................... Colorado, all cropland ............................................ Irrigated ........................................................... Non-irrigated .................................................... Idaho, all cropland ................................................. Irrigated ........................................................... Non-irrigated .................................................... Montana, all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... Nevada, all cropland 1 ............................................ Irrigated ........................................................... New Mexico, all cropland 1 ..................................... Irrigated ........................................................... Non-irrigated .................................................... Utah, all cropland 1 ................................................. Irrigated ........................................................... Non-irrigated .................................................... Wyoming, all cropland ............................................ Irrigated ........................................................... Non-irrigated .................................................... Pacific California, all cropland ........................................... Irrigated ........................................................... Non-irrigated .................................................... Oregon, all cropland .............................................. Irrigated ........................................................... Non-irrigated .................................................... Washington, all cropland ........................................ Irrigated ........................................................... Non-irrigated ....................................................
8,320 8,320
1,840 4,450 1,200
3,040 4,600 1,320
987
2,950 800
2,670 2,670
1,450 3,930
390
3,260 5,250 1,120
1,370 2,190
780
10,140 12,100 3,650
2,500 4,140 1,900
2,560 7,670 1,230
8,320 8,320
1,910 4,650 1,230
3,200 4,830 1,400
997
2,960 810
2,670 2,670
1,440 3,920
390
3,300 5,300 1,140
1,370 2,190
770
10,690 12,700 4,000
2,600 4,360 1,950
2,630 7,850 1,280
8,300 8,300
1,910 4,600 1,250
3,300 5,000 1,420
1,010 2,980
820
(D) (D)
1,450 3,930
390
3,340 5,350 1,170
1,370 2,200
770
10,910 12,900 4,300
2,730 4,650 2,020
2,760 8,250 1,330
8,400 8,400
1,920 4,600 1,260
3,400 5,150 1,460
1,020 2,980
830
(D) (D)
1,480 3,930
440
3,420 5,500 1,180
1,350 2,170
760
11,290 13,300 4,600
2,860 4,850 2,120
2,890 8,700 1,380
8,450 8,450
1,910 4,600 1,250
3,520 5,350 1,500
1,030 3,000
840
(D) (D)
1,480 3,930
440
3,480 5,600 1,200
1,350 2,170
760
11,740 13,800 4,900
2,930 5,050 2,150
2,920 8,800 1,400
0.6 0.6
-0.5
- -0.8
3.5 3.9 2.7
1.0 0.7 1.2
(X) (X)
- - -
1.8 1.8 1.7
- - -
4.0 3.8 6.5
2.4 4.1 1.4
1.0 1.1 1.4
- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Excludes American Indian Reservation land.
14 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Pasture Average Value per Acre – Regions, States, and United States: 2014-2018
Region and State 2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Northeast ........................................ Maryland ..................................... New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 1 ............................. Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................
3,460 6,000
13,500 1,330 2,900 5,790
1,950 2,500 1,600 2,150
2,360 3,400 2,550 3,400 1,850 3,100
954
1,300 900 750 860
3,280 2,700 4,760 3,400 3,930 2,000
3,480 6,000
13,500 1,430 2,850 5,840
2,060 2,680 1,700 2,250
2,440 3,550 2,600 3,400 1,950 3,140
1,020 1,390
870 850 980
3,340 2,750 4,700 3,500 4,000 2,020
3,390 6,100
12,500 1,400 2,700 5,850
2,050 2,600 1,650 2,300
2,420 3,400 2,600 3,400 1,930 3,100
1,020 1,290
910 830
1,020
3,320 2,730 4,700 3,540 3,930 2,020
3,420 6,100
12,500 1,400 2,800 5,850
2,080 2,550 1,700 2,350
2,380 3,300 2,590 3,100 1,970 3,050
1,040 1,280
930 850
1,060
3,340 2,760 4,700 3,580 3,930 2,040
3,480 (D)
12,500 1,450 2,850 5,980
2,110 2,510 1,700 2,450
2,470 3,270 2,620 3,100 2,100 3,120
1,070 1,280 1,010
830 1,090
3,350 2,740 4,660 3,750 3,800 2,030
1.8 (X)
- 3.6 1.8 2.2
1.4
-1.6 -
4.3
3.8 -0.9 1.2
- 6.6 2.3
2.9
- 8.6
-2.4 2.8
0.3
-0.7 -0.9 4.7
-3.3 -0.5
See footnote(s) at end of table. --continued
Land Values 2018 Summary (August 2018) 15 USDA, National Agricultural Statistics Service
Pasture Average Value per Acre – Regions, States, and United States: 2014-2018 (continued)
Region and State 2014 2015 2016 2017 2018 Change
2017-2018
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 3 .................................
3,790 2,100 4,910 3,650 2,900
2,270 2,240 2,500 2,110
1,540 1,360 1,580
611 (D) 760
1,220 640 (D) 360
1,050 490
1,610 2,700
630 810
1,300
3,790 2,140 4,900 3,580 2,940
2,320 2,290 2,590 2,140
1,570 1,430 1,600
614 (D) 760
1,250 650 (D) 340
1,050 510
1,630 2,700
660 820
1,330
3,900 2,180 5,100 3,530 2,940
2,410 2,450 2,600 2,190
1,580 1,470 1,600
617 (D) 760
1,300 650 (D) 350
1,040 510
1,640 2,700
680 840
1,330
3,910 2,230 5,100 3,560 2,940
2,480 2,520 2,700 2,210
1,620 1,470 1,650
625 (D) 760
1,350 660 (D) 360
1,050 510
1,650 2,700
700 850
1,350
3,990 2,300 5,200 3,650 2,960
2,550 2,600 2,800 2,230
1,710 1,530 1,750
634 (D) 760
1,400 670 (D) 370
1,050 510
1,650 2,700
710 850
1,390
2.0 3.1 2.0 2.5 0.7
2.8 3.2 3.7 0.9
5.6 4.1 6.1
1.4 (X)
- 3.7 1.5 (X) 2.8
- -
- -
1.4 -
3.0
- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Includes: Connecticut, Delaware, Maine, Maryland (in 2018), Massachusetts, New Hampshire, Rhode Island, and Vermont. 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii.
16 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Value of Farmland and Buildings – States and United States: 2013-2017 [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms]
Region and State
Total value of land and buildings
2013 2014 2015 2016 2017 Change
2016-2017
(million dollars) (million dollars) (million dollars) (million dollars) (million dollars) (percent)
Northeast Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ...................................... Lake States Michigan ..................................... Minnesota ................................... Wisconsin ................................... Corn Belt Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ Northern Plains Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. Appalachian Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................
4,884 4,085 3,150
14,207 5,408 2,026 9,216
18,720 41,811
966 4,000
42,785 111,370 59,860
190,990 94,080
235,620 80,940 71,400
80,675 126,840 60,915 73,177
39,260 36,456 38,913 35,773 9,180
4,928 4,090 3,016
14,007 5,408 2,012 9,216
19,386 43,232
959 4,075
46,765 123,025 63,800
202,288 102,165 259,250 87,730 77,700
94,300 141,024 71,526 89,631
40,950 37,884 39,240 35,424 9,216
4,972 4,090 3,031
14,140 5,408 2,012 9,360
21,600 42,350
966 4,125
48,755 121,730 67,680
201,750 105,105 244,000 94,805 80,500
93,380 137,860 75,264
100,456
42,250 37,350 39,785 34,992 9,360
4,928 4,200 3,031
14,332 5,408 2,045 9,216
21,456 42,350
966 4,150
47,760 121,730 68,400
198,320 105,105 239,425 96,220 79,800
86,480 133,340 71,736 97,425
43,550 36,935 40,330 34,830 9,252
4,928 4,200 3,190
14,332 5,408 2,115 9,216
21,754 42,652
966 4,200
47,760 123,025 74,880
194,910 102,900 244,000 95,475 79,100
84,915 131,080 71,944 94,394
44,118 36,490 40,500 35,235 9,252
- -
5.2 - -
3.4 -
1.4 0.7
- 1.2
- 1.1 9.5
-1.7 -2.1 1.9
-0.8 -0.9
-1.8 -1.7 0.3
-3.1
1.3 -1.2 0.4 1.2
-
See footnote(s) at end of table. --continued
Land Values 2018 Summary (August 2018) 17 USDA, National Agricultural Statistics Service
Value of Farmland and Buildings – States and United States: 2013-2017 (continued) [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms]
Region and State
Total value of land and buildings
2013 2014 2015 2016 2017 Change
2016-2017
(million dollars) (million dollars) (million dollars) (million dollars) (million dollars) (percent)
Southeast Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta States Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains Oklahoma .................................... Texas ........................................... Mountain Arizona 1 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 1 ...................................... New Mexico 1 ............................... Utah 1 .......................................... Wyoming ..................................... Pacific California ..................................... Oregon ........................................ Washington .................................. United States 2 .................................
22,500 49,660 31,350 14,811
37,260 20,018 24,743
49,880 218,568
18,506 40,576 26,196 47,163 5,113
19,929 13,439 18,120
175,950 32,505 34,040
2,397,034
23,140 49,875 31,020 15,050
39,330 20,826 25,506
54,194 240,500
23,922 42,930 27,848 51,342 5,566
20,663 15,528 19,152
186,150 33,620 36,750
2,595,159
23,144 51,030 30,411 15,050
42,090 21,700 26,136
58,140 252,200
24,125 45,648 29,146 53,133 5,817
20,310 15,669 20,064
196,350 34,768 39,690
2,651,697
24,030 51,030 31,960 15,000
42,090 22,475 26,676
61,560 254,800
24,226 45,014 29,500 53,730 5,710
20,663 15,598 20,064
200,660 36,080 41,895
2,645,481
24,475 53,637 33,725 15,000
43,566 23,250 26,750
64,980 271,282
25,335 45,331 30,680 54,924 5,721
21,017 15,810 19,998
220,980 37,653 44,100
2,701,153
1.9 5.1 5.5
-
3.5 3.4 0.3
5.6 6.5
4.6 0.7 4.0 2.2 0.2 1.7 1.4
-0.3
10.1 4.4 5.3
2.1
- Represents zero. 1 Value of all land and buildings adjusted to include American Indian Reservation land value. 2 Excludes Alaska and Hawaii.
18 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Economic Regions:
Northeast: .................... Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New
York, Pennsylvania, Rhode Island, Vermont.
Lake States: ................. Michigan, Minnesota, Wisconsin.
Corn Belt: .................... Illinois, Indiana, Iowa, Missouri, Ohio.
Northern Plains: ......... Kansas, Nebraska, North Dakota, South Dakota.
Appalachian: ............... Kentucky, North Carolina, Tennessee, Virginia, West Virginia.
Southeast: .................... Alabama, Florida, Georgia, South Carolina.
Delta States: ................ Arkansas, Louisiana, Mississippi.
Southern Plains: ......... Oklahoma, Texas.
Mountain: .................... Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming.
Pacific: ......................... California, Oregon, Washington.
Land Values 2018 Summary (August 2018) 19 USDA, National Agricultural Statistics Service
Statistical Methodology Survey Procedures: The estimates of land values in this report are based primarily on the June Area Survey, conducted
during the first two weeks of June. This annual survey uses a complete, probability-based land-area sampling frame. A
sample of approximately 11,000 segments of land is selected, each approximately one square mile in size.
Enumerators collecting data for the June Area Survey contact all agricultural producers operating land within the
boundaries of the sampled land segments and record land value information for cropland and pasture within these
segments. They also collect an estimated value of all land and buildings for the operator’s entire farming operation and the
estimated percent change from the previous year.
Survey reported data are reviewed for reasonableness and consistency by comparing with other data reported in the survey
and with data reported within the segment the previous year.
Estimating Procedures: Once the data are summarized, each Regional Field Office (RFO) conducts an analysis of the
summarized indications and any other available information for their States. RFOs then set estimates for land values and
submit these recommendations along with their assessment of survey and other administrative information to the
Agricultural Statistics Board (ASB).
Survey data are also summarized for Regional and National levels and reviewed independently of each State’s review.
National targets are established by the ASB. After RFO recommendations are submitted, the ASB reviews the RFO
estimates and supporting comments and any conflicts with targeted National levels are resolved.
The Regional and United States estimates are weighted by the amount of cropland and pasture in each state, based on the
most recent Census of Agriculture. For the purposes of this report, cropland pastured is defined as cropland.
Published Estimates: State averages are not published for States with limited reports to ensure confidentiality of
individual operations. While the June Area Survey is the primary source of data for the estimates, supplemental survey
data and potential previous year revisions are also considered, as described in the more detailed NASS Land Values
Methodology and Data Collection publication. As such, the estimates reflect an average of land values for the year
Revision Policy: For non-census years land values are subject to an annual revision the following year. After the 5-year
Census of Agriculture is completed, land value estimates for the non-census years are subject to a final historic revision.
The basis for revision must be supported by additional data that directly affect the level of the estimate.
20 Land Values 2018 Summary (August 2018) USDA, National Agricultural Statistics Service
Terms and Definitions
Farm: Any establishment from which $1,000 or more of agricultural products were sold or would normally be sold
during the year. Government payments are included in sales.
Farm real estate value: The value at which all land and buildings used for agriculture production including dwellings,
could be sold under current market conditions, if allowed to remain on the market for a reasonable amount of time.
Cropland value: The value of land used to grow field crops, vegetables, or land harvested for hay. Land that switches
back and forth between cropland and pasture should be valued as cropland. Hay land, idle cropland, and cropland enrolled
in government conservation programs should be valued as cropland.
Irrigated cropland value: The value of land that normally receives or has the potential to receive water by artificial
means to supplement natural rainfall. Irrigated cropland may consist of both land that will or will not be irrigated during
the current year, but still has the facilities and equipment to do so. Irrigation facilities and equipment such as wells,
pumps, canals, ditches, reservoirs, lakes, tanks, ponds, rivers, streams or creeks are usually present or on nearby acres.
Non-irrigated cropland value: The value of land that only receives water by natural rainfall.
Pasture, grazing, and grassland value: The value of land that is normally grazed by livestock. Pasture does not need to
have livestock grazing on it at the time of interview or during the current year in order to be valued as pasture or grazing
land.
Land Values 2018 Summary (August 2018) 21 USDA, National Agricultural Statistics Service
Information Contacts
Listed below are the commodity statisticians in the Environmental, Economics, and Demographics Branch of the National
Agricultural Statistics Service to contact for additional information. E-mail inquiries may be sent to [email protected].
Jody McDaniel, Chief, Environmental, Economics, and Demographics Branch ............................................ (202) 720-6146
Bruce Boess, Head, Economics Section .......................................................................................................... (202) 720-4447
Rachel Antzak – Cash Receipts, Land Values .......................................................................................... (202) 720-5446
Daryl Brinkman – Prices, Prices Indexes, Parity Prices ............................................................................ (202) 720-8844
Kuan Chen – Prices, Prices Indexes, Parity Prices .................................................................................... (202) 690-3347
Ryan Cowen – Cash Rents, Farms, Land in Farms, Grazing Fees ............................................................ (202) 720-2250
William Cumberland – Chemical Use ....................................................................................................... (202) 690-1348
Doug Farmer – Chemical Use ................................................................................................................... (202) 690-3229
Stephen Habets – Farm Production Expenditures ..................................................................................... (202) 720-9168
Michael Mathison – Farm Production Expenditures ................................................................................. (202) 720-3243
Theresa Varner – Farm Labor ................................................................................................................... (202) 690-3231
Released August 2, 2018, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board,
United States Department of Agriculture (USDA).
Access to NASS Reports For your convenience, you may access NASS reports and products the following ways:
All reports are available electronically, at no cost, on the NASS web site: www.nass.usda.gov
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For more information on NASS surveys and reports, call the NASS Agricultural Statistics Hotline at (800) 727-9540,
7:30 a.m. to 4:00 p.m. ET, or e-mail: [email protected].
The U.S. Department of Agriculture (USDA) prohibits discrimination against its customers, employees, and applicants for
employment on the basis of race, color, national origin, age, disability, sex, gender identity, religion, reprisal, and where
applicable, political beliefs, marital status, familial or parental status, sexual orientation, or all or part of an individual's
income is derived from any public assistance program, or protected genetic information in employment or in any program
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If you wish to file a Civil Rights program complaint of discrimination, complete the USDA Program Discrimination
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at any USDA office, or call (866) 632-9992 to request the form. You may also write a letter containing all of the
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(202) 690-7442 or email at [email protected].