Land Values 2020 Summary 08/06/2020 · 2020. 8. 6. · 4 Land Values 2020 Summary (August 2020) USDA, National Agricultural Statistics Service Agricultural Land Values Highlights

United States Department of Agriculture National Agricultural Statistics Service

ISSN: 1949-1867

Land Values 2020 Summary August 2020

Land Values 2020 Summary (August 2020) 3 USDA, National Agricultural Statistics Service

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

Average Farm Real Estate Value – United States: 2006-2020 Chart .................................................................................... 5

2020 Farm Real Estate Value by State – Dollars per Acre and Percent Change from 2019 Map.......................................... 5

Average Cropland Value – United States: 2006-2020 Chart ................................................................................................ 6

2020 Cropland Value by State – Dollars per Acre and Percent Change from 2019 Map ...................................................... 6

Average Pasture Value – United States: 2006-2020 Chart ................................................................................................... 7

2020 Pasture Value by State – Dollars per Acre and Percent Change from 2019 Map ......................................................... 7

Farm Real Estate Average Value per Acre – Regions, States, and United States: 2016-2020 .............................................. 8

Cropland Average Value per Acre – Regions, States, and United States: 2016-2020 ......................................................... 10

Irrigated and Non-Irrigated Cropland Average Value per Acre – States: 2016-2020 ......................................................... 12

Pasture Average Value per Acre – Regions, States, and United States: 2016-2020 ............................................................ 14

Value of Farmland and Buildings – States and United States: 2015-2019.......................................................................... 16

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

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

Terms and Definitions ....................................................................................................................................................... 20

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

4 Land Values 2020 Summary (August 2020) 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

$3,160 per acre for 2020, no change from 2019. The United States cropland value averaged $4,100 per acre, no change

from the previous year. The United States pasture value averaged $1,400 per acre, no change from 2019.


1,8302,010

2,170 2,090 2,1502,300

2,5202,730

2,940 3,000 2,990 3,030 3,100 3,160 3,160

0

500

1,000

1,500

2,000

2,500

3,000

3,500

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Dollars per acre

Average Farm Real Estate Value – United States

USDA - NASSAugust 6, 2020

Average Farm Real Estate Value – United States: 2006-2020


2,3002,530

2,7602,640 2,700

2,980

3,350

3,8104,090 4,100 4,040 4,030 4,050 4,100 4,100

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Dollars per acre

Average Cropland Value – United StatesAverage Cropland Value – United States: 2006-2020

USDA - NASS August 6, 2020


9601,030

1,090 1,060 1,060 1,0701,110

1,170

1,290 1,310 1,320 1,3301,370 1,400 1,400

0

200

400

600

800

1,000

1,200

1,400

1,600

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Dollars per acre

Average Pasture Value – United States

USDA - NASSAugust 6, 2020

Average Pasture Value – United States: 2006-2020


Farm Real Estate Average Value per Acre – Regions, States, and United States: 2016-2020

Region and State 2016 2017 2018 2019 2020 Change

2019-2020

(dollars) (dollars) (dollars) (dollars) (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 ..................................

5,270 11,900

8,290 2,210 7,470

10,700 4,610

13,300 3,110 5,820

14,600 3,400

4,730 4,900 4,790 4,520

6,100 7,300 6,830 7,370 3,220 5,970

2,200 1,910 2,890 1,750 2,190

3,880 3,540 4,550 3,770 4,470 2,620

5,380 12,100

8,250 2,370 7,620

10,800 4,860

13,400 3,160 6,030

14,900 3,470

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

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

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

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

5,550 12,300

8,410 2,370 7,860

10,900 4,900

13,500 3,230 6,250

15,200 3,540

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

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

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

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

5,690 12,200

8,950 2,410 8,060

11,100 4,980

13,500 3,250 6,470

15,600 3,630

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

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

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

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

5,710 12,000

8,950 2,490 8,080

11,300 5,000

13,600 3,150 6,600

16,000 3,550

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

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

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

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

0.4 -1.6

- 3.3 0.2 1.8 0.4 0.7

-3.1 2.0 2.6

-2.2

-0.8 -0.2

- -2.0

0.2 1.6 0.3

-1.7 -

1.0

-2.3 -3.1 -2.1 -1.1 -2.9

1.5 2.6

-0.2 2.8

-0.6 0.7

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


Farm Real Estate Average Value per Acre – Regions, States, and United States: 2016-2020 (continued)


2019-2020


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

3,830 2,820 5,510 3,410 3,180

2,830 3,000 2,870 2,590

1,810 1,690 1,840

1,140 3,570 1,500 2,590

898 1,040

540 2,160

699

4,960 8,080 2,240 2,680

2,990

3,990 2,910 5,860 3,560 3,240

2,920 3,110 2,960 2,660

1,880 1,750 1,920

1,170 3,770 1,540 2,730

917 1,020

558 2,230

712

5,440 8,970 2,360 2,760

3,030

4,050 2,980 5,900 3,510 3,310

3,000 3,160 3,040 2,740

2,000 1,800 2,050

1,200 3,780 1,560 2,870

916 1,020

565 2,310

726

5,610 9,350 2,430 2,840

3,100

4,090 3,100 5,950 3,470 3,400

3,100 3,320 3,120 2,800

2,070 1,870 2,120

1,220 3,800 1,570 3,000

915 1,020

570 2,420

740

5,900 10,000

2,500 2,820

3,160

4,120 3,150 5,900 3,500 3,500

3,130 3,350 3,160 2,820

2,110 1,890 2,170

1,240 3,850 1,590 3,110

915 1,000

575 2,450

750

5,910 10,000

2,530 2,760

3,160

0.7 1.6

-0.8 0.9 2.9

1.0 0.9 1.3 0.7

1.9 1.1 2.4

1.6 1.3 1.3 3.7

- -2.0 0.9 1.2 1.4

0.2

- 1.2

-2.1

-

- Represents zero. 1 Excludes American Indian Reservation land. 2 Excludes Alaska and Hawaii.


Cropland Average Value per Acre – Regions, States, and United States: 2016-2020


2019-2020


Northeast ............................................ Delaware ........................................ Maryland ........................................ New Jersey .................................... New York ........................................ Pennsylvania ................................. Other States 1 ................................ 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 ..................................

5,650 8,090 6,910

13,500 2,690 6,450 7,290

4,750 4,590 4,840 4,660

6,500 7,350 6,690 7,510 3,570 6,070

2,900 2,080 4,750 1,910 3,430

3,980 3,980 4,060 3,670 4,610 3,220

5,700 7,960 7,050

13,600 2,740 6,470 7,630

4,840 4,580 4,920 4,870

6,380 7,210 6,300 7,440 3,560 6,150

2,760 2,010 4,430 1,890 3,200

4,070 4,140 4,090 3,730 4,730 3,250

5,940 8,120 7,280

13,700 2,800 6,890 7,650

4,810 4,510 4,950 4,740

6,370 7,280 6,210 7,290 3,490 6,320

2,740 2,060 4,380 1,870 3,120

4,140 4,250 4,130 3,830 4,760 3,250

6,040 8,600 7,370

13,700 2,810 7,030 7,900

4,760 4,500 4,810 4,850

6,360 7,300 6,210 7,260 3,490 6,400

2,790 2,160 4,390 1,920 3,130

4,190 4,300 4,180 3,910 4,720 3,280

6,070 8,600 7,380

13,800 2,800 7,100 7,900

4,730 4,480 4,800 4,770

6,350 7,300 6,210 7,170 3,530 6,460

2,740 2,080 4,360 1,930 3,030

4,240 4,400 4,180 3,990 4,680 3,270

0.5 -

0.1 0.7

-0.4 1.0

-

-0.6 -0.4 -0.2 -1.6

-0.2

- -

-1.2 1.1 0.9

-1.8 -3.7 -0.7 0.5

-3.2

1.2 2.3

- 2.0

-0.8 -0.3



Cropland Average Value per Acre – Regions, States, and United States: 2016-2020 (continued)


2019-2020



4,030 3,080 6,860 3,420 2,610

2,690 2,660 2,590 2,810

1,700 1,530 1,770

1,820 7,800 2,020 3,420 1,010

(D) 1,500 3,530 1,450

6,350

11,160 2,780 2,590

4,040

4,060 3,170 6,940 3,430 2,700

2,770 2,730 2,700 2,900

1,780 1,590 1,850

1,860 7,720 2,070 3,570 1,010

(D) 1,560 3,690 1,460

6,650

11,630 2,920 2,660

4,030

4,160 3,300 7,040 3,430 2,790

2,840 2,780 2,790 3,000

1,820 1,630 1,890

1,910 7,610 2,100 3,740 1,020

(D) 1,580 3,830 1,490

6,830

12,170 3,000 2,630

4,050

4,120 3,430 7,190 3,210 2,830

2,920 2,850 2,880 3,080

1,860 1,670 1,930

1,980 7,600 2,160 3,930 1,040

(D) 1,550 3,970 1,520

7,190

12,830 3,080 2,630

4,100

4,180 3,500 7,190 3,320 2,830

2,960 2,880 2,930 3,100

1,930 1,690 2,030

2,010 7,650 2,200 4,070 1,030

(D) 1,600 4,040 1,540

7,240

12,900 3,120 2,610

4,100

1.5 2.0

- 3.4

-

1.4 1.1 1.7 0.6

3.8 1.2 5.2

1.5 0.7 1.9 3.6

-1.0 (X) 3.2 1.8 1.3

0.7 0.5 1.3

-0.8

-

- 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.


Irrigated and Non-Irrigated Cropland Average Value per Acre – States: 2016-2020 [Only states with significant irrigated acreage appear in this table]

Region, State, and Land type

2016 2017 2018 2019 2020 Change

2019-2020


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 States 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 ...............................................

3,570 4,830 3,470

2,080 3,050 1,970

4,750 6,430 3,720

3,430

(D) 3,410

6,860 7,750 6,020

3,420 4,010 3,210

2,660 3,150 1,920

2,590 2,520 2,620

2,810 3,300 2,580

1,530 (D)

1,520

1,770 1,920 1,750

3,560 4,940 3,450

2,010 2,910 1,910

4,430 6,010 3,450

3,200

(D) 3,180

6,940 7,860 6,070

3,430 4,080 3,190

2,730 3,230 1,960

2,700 2,660 2,710

2,900 3,440 2,640

1,590 (D)

1,580

1,850 2,020 1,820

3,490 4,770 3,380

2,060 2,980 1,960

4,380 5,930 3,430

3,120

(D) 3,100

7,040 7,980 6,160

3,430 4,560 3,020

2,780 3,290 1,990

2,790 2,750 2,810

3,000 3,580 2,720

1,630 (D)

1,610

1,890 2,160 1,840

3,490 4,770 3,350

2,160 3,320 2,050

4,390 5,850 3,490

3,130

(D) 3,100

7,190 8,160 6,280

3,210 4,030 2,870

2,850 3,340 2,060

2,880 2,820 2,900

3,080 3,620 2,770

1,670 (D)

1,650

1,930 2,230 1,880

3,530 4,700 3,400

2,080 3,270 1,970

4,360 5,820 3,460

3,030

(D) 3,000

7,190 8,150 6,300

3,320 4,100 3,000

2,880 3,360 2,100

2,930 2,840 2,960

3,100 3,650 2,780

1,690 (D)

1,670

2,030 2,360 1,980

1.1

-1.5 1.5

-3.7 -1.5 -3.9

-0.7 -0.5 -0.9

-3.2 (X)

-3.2

- -0.1 0.3

3.4 1.7 4.5

1.1 0.6 1.9

1.7 0.7 2.1

0.6 0.8 0.4

1.2 (X) 1.2

5.2 5.8 5.3



Irrigated and Non-Irrigated Cropland Average Value per Acre – States: 2016-2020 (continued) [Only states with significant irrigated acreage appear in this table]

Region, State, and Land type

2016 2017 2018 2019 2020 Change

2019-2020


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

7,800 7,800

2,020 4,860 1,320

3,420 5,180 1,470

1,010 2,970

818

(D) (D)

1,500 4,080

405

3,530 5,660 1,240

1,450 2,330

816

11,160 13,200

4,400

2,780 4,730 2,060

2,590 7,760 1,250

7,720 7,720

2,070 4,950 1,360

3,570 5,410 1,530

1,010 2,970

827

(D) (D)

1,560 4,140

463

3,690 5,930 1,270

1,460 2,340

820

11,630 13,700

4,740

2,920 4,950 2,170

2,660 8,000 1,270

7,610 7,610

2,100 5,050 1,370

3,740 5,690 1,590

1,020 2,990

836

(D) (D)

1,580 4,190

469

3,830 6,160 1,320

1,490 2,390

836

12,170 14,300

5,090

3,000 5,180 2,200

2,630 7,930 1,260

7,600 7,600

2,160 5,100 1,370

3,930 6,020 1,650

1,040 3,010

835

(D) (D)

1,550 4,200

475

3,970 6,360 1,400

1,520 2,430

840

12,830 15,100

5,400

3,080 5,290 2,220

2,630 7,690 1,260

7,650 7,650

2,200 5,300 1,370

4,070 6,210 1,720

1,030 3,000

825

(D) (D)

1,600 4,370

475

4,040 6,440 1,470

1,540 2,470

840

12,900 15,200

5,400

3,120 5,430 2,220

2,610 7,650 1,240

0.7 0.7

1.9 3.9

-

3.6 3.2 4.2

-1.0 -0.3 -1.2

(X) (X)

3.2 4.0

-

1.8 1.3 5.0

1.3 1.6

-

0.5 0.7

-

1.3 2.6

-

-0.8 -0.5 -1.6

- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Excludes American Indian Reservation land.


Pasture Average Value per Acre – Regions, States, and United States: 2016-2020


2019-2020


Northeast ............................................ Maryland ........................................ New Jersey .................................... New York ........................................ Pennsylvania ................................. Other States 1 ................................ 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 ..................................

3,550 6,450

13,000 1,460 2,860 6,040

2,020 2,650 1,680 2,190

2,330 3,350 2,480 3,190 1,830 3,250

1,000 1,310

891 794 993

3,440 2,880 4,810 3,610 4,090 2,060

3,640 6,580

13,100 1,480 3,020 6,160

2,050 2,620 1,740 2,200

2,260 3,240 2,430 2,850 1,830 3,240

1,020 1,310

904 804

1,020

3,500 2,970 4,840 3,670 4,150 2,100

3,770 (D)

13,300 1,560 3,140 6,410

2,080 2,600 1,750 2,260

2,320 3,200 2,430 2,790 1,920 3,370

1,040 1,320

975 776

1,040

3,530 3,000 4,830 3,870 4,050 2,090

3,870 (D)

13,400 1,530 3,290 6,530

2,080 2,590 1,700 2,310

2,330 3,170 2,450 2,720 1,980 3,350

1,090 1,390 1,050

820 1,050

3,540 3,030 4,810 3,860 4,020 2,120

3,900 (D)

13,300 1,540 3,370 6,520

2,050 2,600 1,680 2,250

2,340 3,200 2,400 2,690 2,000 3,370

1,080 1,370 1,040

790 1,050

3,550 3,050 4,780 3,880 4,000 2,150

0.8 (X)

-0.7 0.7 2.4

-0.2

-1.4 0.4

-1.2 -2.6

0.4 0.9

-2.0 -1.1 1.0 0.6

-0.9 -1.4 -1.0 -3.7

-

0.3 0.7

-0.6 0.5

-0.5 1.4



Pasture Average Value per Acre – Regions, States, and United States: 2016-2020 (continued)


2019-2020



4,000 2,280 5,200 3,540 3,120

2,420 2,410 2,570 2,300

1,480 1,380 1,500

636 (D)

803 1,350

649 (D)

363 1,100

540

1,660 2,760

692 790

1,320

4,030 2,360 5,240 3,570 3,180

2,480 2,460 2,660 2,350

1,490 1,350 1,520

647 (D)

818 1,420

658 (D)

379 1,130

550

1,680 2,780

715 782

1,330

4,180 2,470 5,380 3,660 3,260

2,550 2,530 2,750 2,410

1,540 1,380 1,570

667 (D)

835 1,490

667 (D)

394 1,160

561

1,680 2,810

728 766

1,370

4,180 2,590 5,360 3,730 3,240

2,620 2,610 2,830 2,430

1,620 1,460 1,660

683 (D)

845 1,560

680 (D)

417 1,240

575

1,750 3,010

750 766

1,400

4,230 2,600 5,400 3,820 3,300

2,650 2,650 2,870 2,450

1,640 1,480 1,680

687 (D)

845 1,610

680 (D)

420 1,240

580

1,750 3,000

760 740

1,400

1.2 0.4 0.7 2.4 1.9

1.1 1.5 1.4 0.8

1.2 1.4 1.2

0.6 (X)

- 3.2

- (X) 0.7

- 0.9

-

-0.3 1.3

-3.4

-

- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Includes: Connecticut, Delaware, Maine, Maryland (beginning in 2018), Massachusetts, New Hampshire, Rhode Island, and Vermont . 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii.


Value of Farmland and Buildings – States and United States: 2015-2019 [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

2015 2016 2017 2018 2019 Change

2018-2019

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

4,680 4,217 3,038

14,540 5,300 1,958 9,709

21,630 42,825

858 4,020

48,706 122,332

65,520

200,610 103,257 234,702

90,117 83,020

94,095 135,751

73,491 98,724

44,147 38,760 40,221 35,076

9,468

4,641 4,311 2,873

14,940 5,350 1,982 9,709

21,770 42,486

876 4,080

48,020 122,624

65,088

197,100 101,767 225,522

89,838 83,580

87,478 130,050

68,775 94,827

46,020 38,675 41,093 35,313

9,432

4,598 4,373 3,081

15,240 5,292 2,090 9,782

21,804 44,019

894 4,164

48,412 124,185

69,641

193,320 98,700

224,910 86,736 84,140

86,562 126,900

68,382 90,720

47,840 38,472 41,856 35,802

9,768

4,674 4,457 3,081

15,720 5,450 2,107

10,125 22,287 45,625

912 4,248

48,608 123,675

70,070

196,560 98,700

222,462 93,626 86,180

84,730 123,750

67,203 89,424

48,633 38,976 42,728 36,036

9,540

4,636 4,744 3,133

16,120 5,550 2,141

10,125 22,425 47,231

936 4,356

48,608 123,420

70,785

196,560 98,042

220,014 93,840 85,544

89,572 127,965

68,382 89,424

49,278 39,312 43,092 36,270

9,380

-0.8 6.4 1.7 2.5 1.8 1.6

- 0.6 3.5 2.6 2.5

- -0.2 1.0

- -0.7 -1.1 0.2

-0.7

5.7 3.4 1.8

-

1.3 0.9 0.9 0.6

-1.7



Value of Farmland and Buildings – States and United States: 2015-2019 (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

2015 2016 2017 2018 2019 Change

2018-2019

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

23,577 52,608 32,046 15,024

41,676 21,962 26,500

55,909 239,010

25,211 47,550 29,601 52,126

5,934 20,268 15,523 20,374

194,718 34,668 38,073

2,623,130

24,252 52,896 34,100 15,264

41,700 22,960 27,195

57,967 234,600

24,929 47,550 30,044 52,443

5,829 20,586 15,512 20,481

200,384 35,840 39,396

2,602,148

25,026 56,842 35,600 15,228

43,229 23,680 27,664

59,850 243,840

26,058 48,972 31,941 53,278

5,722 20,977 15,983 20,648

219,765 37,760 40,572

2,644,318

25,330 57,230 35,451 15,888

43,924 24,320 28,496

61,560 260,350

26,493 49,608 33,292 53,128

5,722 21,100 16,290 21,054

227,205 38,880 41,748

2,686,656

25,730 57,715 35,394 16,320

46,480 24,960 29,120

64,328 268,180

26,608 49,926 34,500 53,070

5,722 20,982 17,019 21,460

243,000 39,500 41,172

2,732,071

1.6 0.8

-0.2 2.7

5.8 2.6 2.2

4.5 3.0

0.4 0.6 3.6

-0.1 -

-0.6 4.5 1.9

7.0 1.6

-1.4

1.7

- 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 Survey Procedures: The estimates of land values in this report are based primarily on the Agricultural Land Values

Survey, conducted during June and early July. Mail, internet, and telephone were the main data collection modes. The

Agricultural Land Values Survey contacted the same operators that were in segments of land from the 2019 June Area Survey. The 2019 June Area Survey used a complete, probability-based land-area sampling frame. A sample of

approximately 9,000 segments of land is selected, each approximately one square mile in size.

Enumerators collecting data for the Agricultural Land Values Survey contacted all agricultural producers operating land

within the boundaries of the sampled land segments, as of June 2019. Land value information is recorded for the

operator’s entire farming operation by cropland, pasture, and value of all land and buildings 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 by the operator from 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 Quality Measures 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.


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 agricultural 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 cropland 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 cropland 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 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].

Herman Ellison, Chief, Environmental, Economics, and Demographics Branch .......................................... (202) 720-6146

Bruce Boess, Head, Economics Section ....................................................................................................... (202) 720-4447

Eric Barnes – Cash Receipts, Farm Computer Use, Land Values, Prices, Prices Indexes, Parity Prices.. (202) 690-3225 Stephanie Brennan – Farm Production Expenditures.............................................................................. (202) 690-0392

Kuan Chen – Prices, Prices Indexes, Parity Prices ................................................................................. (202) 690-3347

Doug Farmer – Chemical Use ................................................................................................................ (202) 690-3229 Michael Mathison – Cash Rents, Farms, Land in Farms, Grazing Fees .................................................. (202) 720-3243

Max Reason – Prices Received Indexes, Parity Prices, Prices Paid Indexes ........................................... (202) 720-8844

Theresa Varner – Farm Labor ................................................................................................................ (202) 690-3231

Released August 6, 2020, 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

Both national and state specific reports are available via a free e-mail subscription. To set-up this free subscription, visit www.nass.usda.gov and click on “National” or “State” in upper right corner above “search”

box to create an account and select the reports you would like to receive.

Cornell’s Mann Library has launched a new website housing NASS’s and other agency’s archived reports. The

new website, https://usda.library.cornell.edu. All email subscriptions containing reports will be sent from the new

website, https://usda.library.cornell.edu. To continue receiving the reports via e-mail, you will have to go to the new website, create a new account and re-subscribe to the reports. If you need instructions to set up an account or

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esmis.library.cornell.edu in your email client to avoid the emails going into spam/junk folders.

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 or activity conducted or funded by the Department. (Not all prohibited bases will apply to all programs and/or

employment activities.)

If you wish to file a Civil Rights program complaint of discrimination, complete the USDA Program Discrimination

Complaint Form (PDF), found online at www.ascr.usda.gov/filing-program-discrimination-complaint-usda-customer, or at any USDA office, or call (866) 632-9992 to request the form. You may also write a letter containing all of the

information requested in the form. Send your completed complaint form or letter to us by mail at U.S. Department of

Agriculture, Director, Office of Adjudication, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410, by fax

(202) 690-7442 or email at [email protected].

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mailto:[email protected]



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Land Values 2020 Summary 08/06/2020 · 2020. 8. 6. · 4 Land Values 2020 Summary (August 2020) USDA, National Agricultural Statistics Service Agricultural Land Values Highlights

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