Land Values 2012. USA

United States Department of Agriculture National Agricultural Statistics Service

ISSN: 1949-1867

Land Values 2012 Summary August 2012

Land Values 2012 Summary (August 2012) 3 USDA, National Agricultural Statistics Service

Contents

Agricultural Land Values Highlights ...................................................................................................................................... 4

Farm Real Estate, Average Value per Acre – United States: 2003-2012 .............................................................................. 5

2012 Farm Real Estate Value by State, Dollars per Acre and Percent Change from 2011 .................................................... 5

Cropland, Average Value per Acre – United States: 2003-2012 ............................................................................................ 6

2012 Cropland Value by State, Dollars per Acre and Percent Change from 2011 ................................................................. 6

Pasture, Average Value per Acre – United States: 2003-2012 ............................................................................................... 7

2012 Pasture Value by State, Dollars per Acre and Percent Change from 2011 .................................................................... 7

Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 ................................................. 8

Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 ............................................................ 10

Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 ........................................................... 12

Pasture Average Value per Acre – Region, State, and United States: 2008-2012 ................................................................ 14

Value of Farmland and Buildings – Region, State, and United States: 2007-2011 .............................................................. 16

Economic Regions ............................................................................................................................................................... 18

Statistical Methodology ....................................................................................................................................................... 19

Information Contacts ............................................................................................................................................................ 21

4 Land Values 2012 Summary (August 2012) 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

$2,650 per acre for 2012, up 10.9 percent from revised 2011 values. Regional changes in the average value of farm real

estate ranged from a 26.7 percent increase in the Northern Plains region to a 4.1 percent decline in the Southeast region.

The highest farm real estate values were in the Cornbelt region at $5,560 per acre. The Mountain region had the lowest

farm real estate value at $974 per acre.

The United States cropland value increased by $450 per acre (14.5 percent) to $3,550 per acre. In the Northern Plains and

Corn Belt regions, the average cropland value increased 30.4 and 18.5 percent, respectively, from the previous year.

However, in the Southeast region, cropland values decreased by 3.8 percent.

The United States pasture value increased to $1,150 per acre, or 4.5 percent above 2011. The Southeast region had the

largest percentage decrease in pasture value, 7.0 percent below 2011. The Northern Plains had the highest increase at 21.9

percent.


0

500

1,000

1,500

2,000

2,500

3,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Dollars per acre

Average Farm Real Estate Value - United States


0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Dollars per acre

Average Cropland Value - United States


0

200

400

600

800

1,000

1,200

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Dollars per acre

Average Pasture Value - United States


Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012

Region and State 1 2008 2009 2010 2011 2012 Change

2011-2012

(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 ...............................

4,980 12,700 10,300 2,200 8,000

12,300 4,900

15,300 2,350 5,120

16,800 2,900

3,410 3,900 2,970 3,850

3,700 4,550 4,100 3,950 2,300 4,020

1,020 1,020 1,330

770 920

3,650 2,850 4,450 3,450 5,000 2,500

4,830 12,000 8,900 2,100 7,500

12,000 4,800

13,800 2,400 5,100

15,300 2,800

3,300 3,750 2,870 3,750

3,620 4,530 4,020 3,850 2,200 3,880

1,020 1,030 1,340

780 890

3,530 2,850 4,250 3,300 4,800 2,400

4,690 11,500 8,100 2,000 7,200

11,300 4,750

13,100 2,400 5,000

13,600 2,750

3,340 3,650 2,990 3,750

3,960 4,900 4,300 4,500 2,350 4,000

1,120 1,100 1,520

850 970

3,560 2,880 4,200 3,550 4,600 2,400

4,690 11,500 8,100 2,000 7,200

11,000 4,650

12,700 2,450 5,000

13,000 2,750

3,650 3,850 3,350 4,050

4,700 5,700 5,300 5,700 2,550 4,400

1,350 1,300 1,940

980 1,130

3,650 2,900 4,470 3,650 4,500 2,700

4,780 11,100 8,100 1,970 7,200

10,500 4,550

12,200 2,650 5,200

12,000 2,750

4,180 4,250 4,050 4,350

5,560 6,700 6,200 7,000 2,900 5,000

1,710 1,550 2,590 1,240 1,400

3,690 3,050 4,470 3,700 4,450 2,700

1.9 -3.5

- -1.5

- -4.5 -2.2 -3.9 8.2 4.0

-7.7 -

14.5 10.4 20.9 7.4

18.3 17.5 17.0 22.8 13.7 13.6

26.7 19.2 33.5 26.5 23.9

1.1 5.2

- 1.4

-1.1 -

See footnote(s) at end of table. --continued


Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)


2011-2012


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 .................................

3,940 2,300 5,640 4,300 2,950

2,220 2,420 2,050 2,080

1,470 1,150 1,550

1,030 3,500 1,150 2,500

900 1,000

500 1,850

560

3,970 6,440 1,900 2,020

2,170

3,690 2,150 5,150 4,100 2,900

2,160 2,390 1,970 2,000

1,470 1,170 1,550

922

3,500 1,100 2,200

700 1,000

480 1,800

520

4,010 6,600 1,800 2,000

2,110

3,520 2,100 4,800 3,900 2,900

2,230 2,500 2,050 2,030

1,580 1,240 1,670

913

3,500 1,080 2,100

700 1,000

480 1,810

520

4,090 6,700 1,900 2,050

2,200

3,450 2,050 4,700 3,800 2,900

2,340 2,600 2,200 2,120

1,660 1,330 1,750

923

3,500 1,100 2,050

710 1,000

500 1,800

540

4,220 6,900 2,000 2,090

2,390

3,310 2,000 4,600 3,500 2,900

2,500 2,850 2,400 2,140

1,730 1,480 1,800

974

3,600 1,170 2,120

760 1,050

560 1,800

560

4,450 7,200 2,100 2,300

2,650

-4.1 -2.4 -2.1 -7.9

-

6.8 9.6 9.1 0.9

4.2

11.3 2.9

5.5 2.9 6.4 3.4 7.0 5.0

12.0 -

3.7

5.5 4.3 5.0

10.0

10.9

- Represents zero. 1 See page 18 for definition of Regions. 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii.


Cropland, Average Value per Acre – Region, State, and United States: 2008-2012


2011-2012


Northeast ........................................ Delaware ..................................... Maryland ..................................... New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 2 ............................. 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 ...............................

5,590 9,800 7,800

15,600 2,150 6,000 7,930

3,080 3,480 2,700 3,600

4,030 4,850 4,140 4,260 2,500 4,140

1,280 1,020 2,050

810 1,400

3,730 3,100 3,850 3,400 5,350 3,800

5,340 8,500 7,300

14,000 2,200 5,700 7,570

3,020 3,370 2,610 3,650

3,910 4,670 3,950 4,050 2,540 3,900

1,300 1,050 2,180

800 1,400

3,600 3,150 3,770 3,270 5,000 3,500

5,260 7,900 7,000

13,300 2,400 5,650 7,150

3,120 3,300 2,820 3,650

4,240 4,900 4,400 4,600 2,690 4,050

1,450 1,150 2,510

870 1,560

3,590 3,180 3,720 3,400 4,700 3,400

5,190 7,800 7,000

12,800 2,400 5,550 7,040

3,500 3,600 3,250 3,950

5,070 5,800 5,300 5,900 2,940 4,400

1,810 1,400 3,300 1,040 1,860

3,590 3,250 3,720 3,400 4,500 3,500

5,260 7,800 7,000

12,300 2,600 5,650 6,940

4,090 4,000 4,050 4,230

6,010 6,800 6,200 7,300 3,340 5,000

2,360 1,750 4,480 1,350 2,320

3,750 3,450 4,000 3,430 4,700 3,500

1.3 - -

-3.9 8.3 1.8

-1.4

16.9 11.1 24.6 7.1

18.5 17.2 17.0 23.7 13.6 13.6

30.4 25.0 35.8 29.8 24.7

4.5 6.2 7.5 0.9 4.4

-



Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)


2011-2012



4,380 2,650 6,980 4,540 2,610

1,800 1,770 1,830 1,810

1,390 1,110 1,500

1,670

11,500 1,310 2,800

811 2,740 1,630 2,700 1,180

5,570 9,880 2,380 1,830

2,760

3,960 2,500 6,430 4,050 2,500

1,810 1,860 1,740 1,810

1,380 1,130 1,480

1,610

10,000 1,300 2,610

787 2,700 1,810 2,810 1,177

5,210 9,480 2,340 1,790

2,670

3,690 2,400 6,180 3,510 2,520

1,920 1,990 1,800 1,900

1,430 1,160 1,540

1,530 8,000 1,290 2,470

779 ( 4 )

1,820 2,720 1,197

5,080 9,130 2,290 1,890

2,770

3,650 2,350 6,030 3,530 2,520

2,050 2,120 1,970 2,020

1,520 1,190 1,650

1,550 8,000 1,340 2,460

807 ( 4 )

1,840 2,690 1,267

5,240 9,450 2,290 1,960

3,100

3,510 2,300 5,730 3,360 2,520

2,220 2,370 2,120 2,070

1,610 1,390 1,690

1,630 8,500 1,450 2,560

853 ( 4 )

1,830 2,690 1,290

5,540 9,810 2,510 2,230

3,550

-3.8 -2.1 -5.0 -4.8

-

8.3 11.8 7.6 2.5

5.9

16.8 2.4

5.2 6.3 8.2 4.1 5.7 (X)

-0.5 -

1.8

5.7 3.8 9.6

13.8

14.5

- Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Includes: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. 3 Excludes American Indian Reservation land. 4 Not published due to insufficient reports. 5 Excludes Alaska and Hawaii.


Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 [Only States with significant irrigated acreage appear in this table]

Region, State, and land type 1

2008 2009 2010 2011 2012 Change

2011-2012


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 ..........................................

2,500 2,980 2,470

1,020 1,450

980

2,050 2,650 1,750

1,400 1,830 1,390

6,980 7,790 6,300

4,540 3,600 4,750

1,770 1,920 1,650

1,830 1,560 1,890

1,810 1,980 1,770

1,110 1,400 1,100

1,500 1,680 1,480

2,540 3,050 2,500

1,050 1,500 1,000

2,180 2,700 1,850

1,400 1,850 1,390

6,430 7,000 5,900

4,050 3,500 4,200

1,860 2,100 1,600

1,740 1,500 1,800

1,810 1,830 1,800

1,130 ( 2 )

1,120

1,480 1,700 1,450

2,690 3,250 2,650

1,150 1,600 1,100

2,510 3,150 2,100

1,560

( 2 ) 1,550

6,180 6,700 5,700

3,510 3,200 3,600

1,990 2,250 1,700

1,800 1,700 1,830

1,900 1,970 1,880

1,160 ( 2 )

1,150

1,540 1,700 1,510

2,940 3,500 2,900

1,400 1,900 1,350

3,300 4,300 2,650

1,860

( 2 ) 1,850

6,030 6,500 5,600

3,530 3,300 3,600

2,120 2,450 1,750

1,970 1,850 2,000

2,020 2,250 1,950

1,190 ( 2 )

1,180

1,650 1,750 1,630

3,340 3,900 3,300

1,750 2,200 1,700

4,480 6,000 3,500

2,320

( 2 ) 2,300

5,730 6,400 5,100

3,360 3,200 3,400

2,370 2,750 1,950

2,120 2,000 2,150

2,070 2,320 1,990

1,390 ( 2 )

1,370

1,690 1,770 1,680

13.6 11.4 13.8

25.0 15.8 25.9

35.8 39.5 32.1

24.7

(X) 24.3

-5.0 -1.5 -8.9

-4.8 -3.0 -5.6

11.8 12.2 11.4

7.6 8.1 7.5

2.5 3.1 2.1

16.8 (X)

16.1

2.4 1.1 3.1



Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 (continued) [Only States with significant irrigated acreage appear in this table]

Region, State, and land type 1

2008 2009 2010 2011 2012 Change

2011-2012


Mountain Arizona all cropland 3 ............................................. Irrigated ........................................................... Colorado all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... Idaho all cropland .................................................. Irrigated ........................................................... Non-irrigated .................................................... Montana all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... Nevada all cropland 3 ............................................. Irrigated ........................................................... New Mexico all cropland 3 ...................................... Irrigated ........................................................... Non-irrigated .................................................... Utah all cropland 3 .................................................. 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 ....................................................

11,500 11,500

1,310 3,100

890

2,800 4,500 1,360

811

3,300 580

2,740 2,740

1,630 5,360

410

2,700 5,260 1,150

1,180 2,090

750

9,880 12,300 3,570

2,380 3,740 1,900

1,830 4,200 1,210

10,000 10,000

1,300 3,150

840

2,610 4,000 1,300

787

2,800 600

2,700 2,700

1,810 5,490

400

2,810 5,200 1,080

1,177 1,900

700

9,480 11,600 3,400

2,340 3,680 1,850

1,790 4,200 1,150

8,000 8,000

1,290 3,100

840

2,470 3,800 1,220

779

2,700 600

( 2 ) ( 2 )

1,820 5,500

400

2,720 5,050 1,040

1,197 1,950

700

9,130 11,100 3,500

2,290 3,650 1,800

1,890 4,700 1,150

8,000 8,000

1,340 3,160

880

2,460 3,800 1,200

807

2,700 630

( 2 ) ( 2 )

1,840 5,500

430

2,690 5,000 1,030

1,267 2,050

( 2 )

9,450 11,500 3,600

2,290 3,650 1,800

1,960 5,200 1,100

8,500 8,500

1,450 3,400

960

2,560 4,000 1,200

853

2,700 680

( 2 ) ( 2 )

1,830 5,400

460

2,690 5,000 1,030

1,290 2,050

( 2 )

9,810 12,000 3,550

2,510 4,200 1,900

2,230 6,300 1,150

6.3 6.3

8.2 7.6 9.1

4.1 5.3

-

5.7 -

7.9

(X) (X)

-0.5 -1.8 7.0

- - -

1.8 -

(X)

3.8 4.3

-1.4

9.6 15.1 5.6

13.8 21.2 4.5

- Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Not published due to insufficient reports. 3 Excludes American Indian Reservation land.


Pasture Average Value per Acre – Region, State, and United States: 2008-2012


2011-2012


Northeast ........................................ New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 2 ............................. 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 ...............................

3,480 16,500 1,100 3,100 6,370

1,840 2,630 1,480 2,130

2,090 2,550 2,510 2,070 1,800 3,200

516 750 480 350 470

3,620 2,570 4,870 3,880 4,830 1,950

3,270 14,900 1,050 2,600 6,060

1,790 2,550 1,400 2,050

1,950 2,400 2,430 1,880 1,700 3,050

496 750 450 350 430

3,400 2,420 4,600 3,650 4,800 1,900

3,170 14,200 1,100 2,500 5,820

1,780 2,400 1,400 2,050

1,970 2,600 2,410 2,100 1,660 3,000

519 790 475 370 440

3,320 2,440 4,500 3,600 4,500 1,900

3,210 13,900 1,200 2,600 5,750

1,800 2,500 1,400 2,090

2,100 2,800 2,500 2,650 1,700 3,000

556 810 530 410 470

3,300 2,420 4,730 3,600 4,200 2,100

3,230 13,500 1,250 2,600 5,780

1,870 2,500 1,500 2,130

2,280 3,100 2,600 3,000 1,820 3,200

678 950 660 490 590

3,250 2,450 4,400 3,580 4,100 2,100

0.6 -2.9 4.2

- 0.5

3.9

- 7.1 1.9

8.6

10.7 4.0

13.2 7.1 6.7

21.9 17.3 24.5 19.5 25.5

-1.5 1.2

-7.0 -0.6 -2.4

-



Pasture, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)


2011-2012



5,040 1,800 5,930 7,450 3,000

2,160 2,200 2,060 2,200

1,340 1,000 1,400

617 950 710

1,610 760 650 310 940 480

1,900 3,020

740 770

1,090

4,270 1,700 5,300 6,000 2,900

2,130 2,200 2,100 2,050

1,300 1,010 1,360

517 900 670

1,280 530 620 280 870 410

1,730 2,900

700 820

1,070

4,030 1,650 5,050 5,400 2,900

2,140 2,300 2,100 1,930

1,340 1,020 1,410

518 950 650

1,250 530 ( 4 ) 290 920 410

1,700 2,850

670 820

1,080

3,690 1,600 4,500 5,000 2,900

2,170 2,300 2,200 1,930

1,420 1,040 1,500

525 ( 4 ) 640

1,220 530 ( 4 ) 310 920 430

1,680 2,800

670 820

1,100

3,430 1,550 4,300 4,200 2,850

2,190 2,300 2,300 1,930

1,490 1,150 1,560

551 ( 4 ) 640

1,210 570 ( 4 ) 350 920 450

1,660 2,800

620 810

1,150

-7.0 -3.1 -4.4

-16.0 -1.7

0.9

- 4.5

-

4.9 10.6 4.0

5.0 (X)

- -0.8 7.5 (X)

12.9 -

4.7

-1.2 -

-7.5 -1.2

4.5

- Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Includes: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, Rhode Island, and Vermont. 3 Excludes American Indian Reservation land. 4 Not published due to insufficient reports. 5 Excludes Alaska and Hawaii.


Value of Farmland and Buildings – Region, State, and United States: 2007-2011 [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

2007 2008 2009 2010 2011 Change

2010-2011

(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 ...............................

5,207 5,457 3,011

17,510 6,188 2,256

11,461 15,696 38,766 1,148 3,370

37,600 72,630 55,328

107,736 53,872

103,796 62,930 51,800

45,374 51,984 25,740 33,649

38,360 37,238 35,750 39,690 8,510

5,080 5,150 2,970

16,400 6,396 2,303

11,169 16,685 39,680 1,176 3,538

39,000 79,893 58,520

121,485 60,680

121,660 66,930 55,878

47,124 60,648 30,492 40,204

39,900 38,270 37,605 40,000 9,250

4,800 4,361 2,835

15,375 6,240 2,256

10,074 17,040 39,525 1,071 3,416

37,500 77,203 57,000

120,951 59,496

118,580 64,020 53,544

47,586 61,104 30,888 38,893

39,900 36,550 35,970 38,400 8,880

4,600 3,969 2,700

14,760 5,876 2,233 9,563

16,800 38,500

952 3,355

36,500 80,431 56,625

130,830 63,640

138,600 68,150 54,800

50,710 69,312 33,660 42,389

40,320 36,120 38,518 36,800 8,760

4,600 3,969 2,700

14,760 5,720 2,186 9,271

17,150 38,250

910 3,355

38,500 89,948 60,750

151,620 77,910

174,990 73,695 59,840

59,800 88,270 38,808 49,325

40,600 37,995 39,420 35,775 9,855

- - - -

-2.7 -2.1 -3.1 2.1

-0.6 -4.4

-

5.5 11.8 7.3

15.9 22.4 26.3 8.1 9.2

17.9 27.4 15.3 16.4

0.7 5.2 2.3

-2.8 12.5



Value of Farmland and Buildings – Region, State, and United States: 2007-2011 (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

2007 2008 2009 2010 2011 Change

2010-2011

(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 .................................

19,800 51,150 44,805 13,818

31,136 15,795 21,670

37,908 179,952

16,926 35,482 28,520 50,547 4,777

18,505 12,479 14,798

151,384 28,208 27,565

1,777,282

20,585 52,170 44,720 14,455

33,154 16,503 22,880

40,365 202,120

18,156 35,995 28,500 54,720 4,871

19,829 13,291 16,856

163,576 31,160 29,896

1,921,888

19,350 47,638 42,230 14,210

32,504 15,859 22,100

41,067 202,120

18,156 34,430 25,080 42,560 4,871

19,169 12,953 15,704

167,640 29,520 29,600

1,870,219

18,900 44,400 40,170 14,210

34,000 16,400 22,635

43,276 217,434

18,156 33,804 23,940 42,420 4,871

19,265 13,021 15,704

170,180 31,065 30,340

1,943,664

18,348 43,475 39,140 14,210

35,100 17,490 23,638

46,151 227,500

18,156 34,430 23,370 42,955

4,821 20,029 12,953 16,308

175,260 32,600 30,932

2,106,838

-2.9 -2.1 -2.6

-

3.2 6.6 4.4

6.6 4.6

- 1.9

-2.4 1.3

-1.0 4.0

-0.5 3.8

3.0 4.9 2.0

8.4

- Represents zero. 1 Value of all land and buildings adjusted to include American Indian Reservation land value. 2 Excludes Alaska and Hawaii.


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.


Statistical Methodology June Area Survey 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. In

2012, the survey included a stratified sample of 11,085 land areas (segments), averaging 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 Field Office (FO) conducts an analysis of the summarized

indications and any other available information for their State. FOs 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 FO recommendations are submitted, the ASB reviews the FO estimates

and supporting comments and any conflicts with targeted National levels are resolved.

The State 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 and/or high variability of the survey

item’s reported data.

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.

Reliability: The June Area Survey from which land value and cash rent estimates are made is subject to sampling and

non-sampling errors that are common to all surveys. Both types of errors affect the "accuracy" of the estimates. Sampling

error occurs because a complete census is not taken. The sampling error measures the variation in estimates from the

average of all possible samples. An estimate of 100 with a sampling error of 1.0 would mean that chances are 19 out of 20

(95 percent confidence interval) that the estimates from all possible samples averaged together would be between

98 and 102 (the survey indication plus or minus two times the sampling error).

The sampling errors from the 2012 area frame survey are listed below:

United States Regions (range low to high)

Farm Real Estate Value (%) 1.5 1.0 to 6.9

All Cropland Value (%) 0.7 0.6 to 5.4

Irrigated Cropland (%) 2.6 1.0 to 5.5

Non-irrigated Cropland (%) 1.0 1.3 to 8.2

Pasture Value (%) 2.5 2.5 to 10.1


Sampling errors cannot be applied directly to the values published in this report to determine confidence intervals since

the official estimates represent a composite of information from more than a single source.

Non-sampling errors cannot be measured directly and can occur in complete censuses as well as sample surveys. They are

caused by the inability to obtain correct information from each person sampled, differences in interpreting questions or

definitions, and mistakes in coding or processing data. To minimize non-sampling errors, vigorous quality controls are

used in the data collection process and all data are carefully reviewed for consistency and reasonableness.

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.

Irrigated cropland is normally worth more than land without irrigation potential or facilities.

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.


Information Contacts

Listed below are the commodity statisticians in the Economics Section of 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].

Troy Joshua, Chief, Environmental, Economics, and Demographics Branch ....................... (202) 720-6146

Tony Dorn, Head, Economics Section ................................................................................... (202) 690-3223

Daryl Brinkman – Prices Received, Prices Received Indexes .................................. (202) 720-8844

Kuan Chen – Prices, Prices Research ....................................................................... (202) 720-5446

Bryan Combs – Production Expenditures ................................................................. (202) 720-9168

Vincent Davis – Prices Paid, Prices Paid Indexes .................................................... (202) 690-3229

Mark Gorsak – Prices, Prices Research ................................................................... (202) 720-3225

Michael Mathison – Production Expenditures .......................................................... (202) 720-3243

Nick Pallotta – Cash Receipts, Grazing Fees, Land Values ..................................... (202) 720-2250

Scott Shimmin – Cash Rents, Farm Numbers, Land in Farms ................................. (202) 690-3231

Released August 3, 2012, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board,

United States Department of Agriculture (USDA).

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basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental

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Land Values 2012. USA

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