United States Land Values and Cash Rents · 8/4/2006 · Land Values and Cash Rents 2006 Summary...

United StatesDepartment ofAgriculture

NationalAgriculturalStatisticsService

Sp Sy 3 (06)

Land Values andCash Rents2006 Summary

August 2006

Land Values and Cash Rents 2006 Summary Agricultural Statistics BoardAugust 2006 1 NASS, USDA

Table of ContentsPage

Agricultural Land Values Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Agricultural Land Values Charts and Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 U. S. Average Farm Real Estate Value, Dollars per Acre, 1983-2006 2006 Farm Real Estate Value by State U. S. Average Cropland Value, Dollars per Acre, 1998-2006 2006 Cropland Value by State U. S. Average Pasture Value, Dollars per Acre, 1998-2006 2006 Pasture Value by State

Farm Real Estate: Average Value per Acre, by Region and State, January 1, 2002-2006 . . . . . . . . . . . . . . . . 6

Cropland: Average Value per Acre, by Region and State, January 1, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . 7

Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Pasture: Average Value per Acre, by Region and State, January 1, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . 10

Agricultural Cash Rents Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Agricultural Cash Rent Charts and Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 U. S. Average Cropland Rented for Cash, Dollars per Acre, 1999-2006 2006 Cropland Rented for Cash by State U. S. Average Pasture Rented for Cash, Dollars per Acre, 1999-2006 2006 Pasture Rented for Cash by State

Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Economic Regions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Reliability of Data in this Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18


Agricultural Land Values Highlights

Farm real estate values, a measurement of the value of all land and buildings on farms, averaged$1,900 per acre on January 1, 2006, up 15 percent from 2005. The $1,900 per acre is a record high and$250 more than a year earlier.

Cropland and pasture values rose by 13 and 22 percent, respectively, since January 1, 2005. Croplandvalues averaged $2,390 per acre and pasture values averaged $1,000 per acre on January 1, 2006,compared with $2,110 and $820 per acre, respectively, a year earlier.

The increase in farm real estate values continues to be driven by a combination of mostly nonagriculturalfactors, including relative low interest rates and strong demand for nonagricultural land uses. Demandfor farm real estate as an investment continues to be a strong market influence.

Regional increases in the average value of farm real estate ranged from 8.9 percent in the Delta region to35 percent in the Mountain region. The highest farm real estate values are in the Northeast region,where urban influences have pushed the average value to $4,550 per acre. In the Corn Belt region farmreal estate values rose 12 percent, to $3,040 per acre. The Northern Plains region, with its expanse ofpasture and rangeland, had the lowest farm real estate value, at $834 per acre.

The Southeast region had the highest average increase in cropland value, at $4,550, up $890 per acre. Inthe Corn Belt region cropland values rose 12 percent, to $3,230 per acre. The Lake States region alsoincreased 12 percent, to $2,550 per acre. Together, the Corn Belt and Lake States regions account fornearly one-third of the U.S. total cropland acres.

The Southeast region had the highest average increase in pasture value, up $1,510 per acre. In theNorthern Plains, Southern Plains, Mountain, and Pacific regions (17 western states) pasture values peracre increased 15 percent, 24 percent, 54 percent, and 13 percent, respectively. Together, the 17western states account for about 89 percent of the total pasture acres on farms in the 48 States.





Farm Real Estate: Average Value per Acre, by Regionand State, January 1, 2002-2006 1

Region and State 2002 2003 2004 2005 2006 Change05-06

Dollars Dollars Dollars Dollars Dollars Percent

Northeast: CT DE ME MD MA NH NJ NY PA RI VTLake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 2

CO ID MT NV 2

NM 2

UT 2

WYPacific: CA OR WA

48 States 3

3,0008,5003,7001,6004,0008,1002,8008,6001,6103,2508,3001,9001,8702,4701,5002,1502,0302,3502,4601,9201,3802,600

576665760415430

2,2501,8302,9002,3002,5301,3302,1401,7002,7202,0501,9001,3901,4101,4401,330

755680775500

1,400700

1,240370465250

1,040285

2,2403,4001,1501,390

1,210

3,2009,5004,0001,7504,1509,3003,1009,1001,7003,4509,3002,0502,0102,6801,6002,3002,1302,4302,5702,0101,4702,740

594685775425460

2,3701,9003,1002,4002,7001,4002,2701,7602,9002,2002,0501,4601,4801,5001,400

788705810523

1,500730

1,280390480260

1,100300

2,3503,6001,2001,480

1,270

3,55010,200

6,0001,8505,7009,9003,2509,7501,7803,650

10,2002,1502,2202,9201,8002,5002,3002,6102,7702,2001,5802,930

632715825455500

2,5602,0003,3002,5003,2001,5002,4201,8603,1002,3502,1501,5801,6501,5801,480

832745855550

1,600775

1,360410500265

1,150315

2,4803,8001,2501,530

1,360

*4,11010,800

8,4001,9507,900

10,5003,450

*10,500 *1,920 *4,22011,200

2,300 *2,520

3,150 *2,100

2,850 *2,720 *3,330 *3,140 *2,650 *1,790

3,180 *735 *850 *940 *505 *605

*3,110 *2,500 *3,940 *2,850 *4,050 *1,950 *3,530 *2,400 *5,400 *3,200 *2,400 *1,790 *1,870 *1,770 *1,690 *1,000

*900 *1,030

*698 *2,330

*940 *1,750

*510 *650 *360

*1,460 *370

*3,120 *5,090

1,3501,650

*1,650

4,55011,40010,200

2,0508,900

11,6003,700

10,9002,0504,790

12,5002,4502,8403,5002,4003,2003,0403,8003,6302,9301,9803,480

834930

1,090560710

3,4702,7504,2503,0704,9002,1504,4202,7507,2803,9002,6001,9502,0501,9001,8501,190

9701,250

9443,3501,0902,440

7601,000

5202,070

4203,2905,3901,4201,750

1,900

10.75.6

21.45.1

12.710.5

7.23.86.8

13.511.6

6.512.711.114.312.311.814.115.610.610.6

9.413.5

9.416.010.917.411.610.0

7.97.7

21.010.325.214.634.821.9

8.38.99.67.39.5

19.07.8

21.435.243.816.039.449.053.844.441.813.5

5.45.95.26.1

15.2

* Revised. 1 See page 17 for definition of Regions. 2 Excludes American Indian Reservation Land. 3 Excludes Alaska and Hawaii.


Cropland: Average Value per Acre, by Regionand State, January 1, 2002-2006 1



Northeast: DE MD NJ NY PA Oth Sts 2

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 3

CO ID MT NV 3

NM 3

UT 3

WYPacific: CA OR WA

48 States 4

3,2103,5003,9009,0001,3203,3505,2401,7202,1501,4302,0002,1802,4302,4402,0401,4802,630

720679

1,200450626

2,3402,0002,7502,2702,5501,9202,2401,6003,7301,9701,6001,1601,1801,1901,100

808643871

1,1205,600

9991,600

5031,8501,4402,880

9153,4105,7301,6501,450

1,590

3,4003,8504,0009,3001,3903,5005,9201,8602,3501,5202,2002,2702,5002,5502,1201,5802,750

737684

1,210460681

2,4902,1002,9502,3502,8002,0502,3501,7003,6902,1501,7501,2101,2201,2401,160

863668937

1,1706,0001,0501,680

5201,9001,4702,960

9573,5005,9201,6701,470

1,660

3,8005,7005,6009,9001,4703,7006,2302,0302,5501,6902,3502,4502,7002,7502,3201,6902,940

783705

1,290490747

2,6702,2303,1502,4203,3002,2002,4601,8003,8102,2601,8501,2701,2901,3001,210

902697981

1,2006,4001,0601,710

5481,9501,4502,900

9723,5706,0201,6901,510

1,770

*4,3908,0007,600

10,5001,530

*4,2806,610

*2,2702,750

*1,9502,600

*2,880 *3,370 *3,150 *2,770

1,8903,230 *916 *849

*1,470546

*907 *3,040 *2,500 *3,450 *2,650 *4,100 *3,300 *3,660 *2,450 *7,220 *2,750

2,050 *1,460 *1,460 *1,510 *1,410 *1,010

*846 *1,070 *1,420 *9,000 *1,170 *2,080

*652 *2,300 *1,530 *3,060 *1,070 *4,620 *8,230

1,8001,610

*2,110

5,0409,8008,800

11,2001,8205,1107,0902,5503,0002,1803,0003,2303,8403,6503,0602,1003,5401,040

9271,690

6101,0903,4502,8503,6102,9205,3003,5004,5502,9508,7703,7302,1501,6001,5801,6301,5901,180

8911,2901,750

12,0001,2402,800

8463,1001,7603,6501,1504,8508,6201,9401,660

2,390

14.822.515.8

6.719.019.4

7.312.3

9.111.815.412.213.915.910.511.1

9.613.5

9.215.011.720.213.514.0

4.610.229.3

6.124.320.421.535.6

4.99.68.27.9

12.816.8

5.320.623.233.3

6.034.629.834.815.019.3

7.55.04.77.83.1

13.3

* Revised. 1 See page 17 for definition of Regions. 2 Includes: CT, ME, MA, NH, RI, and VT. 3 Excludes American Indian Reservation Land. 4 Excludes Alaska and Hawaii.


Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, January 1, 2002-2006 1

Region, State,and Land Type 2002 2003 2004 2005 2006 Change

05-06


Corn Belt: MO All Cropland Irrigated Non-Irrigated

Northern Plains: KS All Cropland Irrigated Non-Irrigated

NE All Cropland Irrigated Non-Irrigated

SD All Cropland Irrigated Non-Irrigated

Southeast: FL All Cropland Irrigated Non-Irrigated

GA All Cropland Irrigated Non-Irrigated

Delta States: AR All Cropland Irrigated Non-Irrigated

LA All Cropland Irrigated Non-Irrigated

MS All Cropland Irrigated Non-Irrigated

Southern Plains: OK All Cropland Irrigated Non-Irrigated

TX All Cropland Irrigated Non-Irrigated

1,4802,0701,440

6791,080

640

1,2001,630

980

626950620

3,7304,3302,460

1,9701,8002,000

1,1801,3101,070

1,1901,0501,230

1,1001,1901,080

643805635

871950850

1,5802,1501,540

6841,080

645

1,2101,650

980

6811,000

675

3,6904,1802,670

2,1501,9002,200

1,2201,3501,100

1,2401,0701,280

1,1601,2301,140

668820660

9371,000

920

1,6902,2501,650

7051,110

665

1,2901,7501,050

7471,080

740

3,8104,4002,850

2,2602,1002,300

1,2901,4501,150

1,3001,1501,340

1,2101,2801,190

697850690

9811,050

965

1,8902,4701,850

*849 *1,240

*810

*1,470 *1,940 *1,230

*907 *1,240

*900

*7,220 *8,050 *6,100

*2,750 *2,750

2,750

*1,460 *1,640 *1,320

*1,510 *1,360 *1,550

*1,410 *1,460 *1,400

*846 *990 *840

*1,070 *1,150 *1,060

2,1002,8402,050

9271,300

890

1,6902,1501,450

1,0901,4601,080

8,7709,5507,900

3,7303,6503,750

1,5801,7301,460

1,6301,4101,680

1,5901,5501,600

8911,160

880

1,2901,2601,300

11.115.010.8

9.24.89.9

15.010.817.9

20.217.720.0

21.518.629.5

35.632.736.4

8.25.5

10.6

7.93.78.4

12.86.2

14.3

5.317.2

4.8

20.69.6

22.6

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


Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, 2002-2006 1 2 (continued)

Region, State,and Land Type 2002 2003 2004 2005 2006 Change

05-06


Mountain: AZ All Cropland Irrigated

CO All Cropland Irrigated Non-Irrigated

ID All Cropland Irrigated Non-Irrigated

MT All Cropland Irrigated Non-Irrigated

NV All Cropland Irrigated

NM All Cropland Irrigated Non-Irrigated

UT All Cropland Irrigated Non-Irrigated

WY All Cropland Irrigated Non-Irrigated

Pacific: CA All Cropland Irrigated Non-Irrigated

OR All Cropland Irrigated Non-Irrigated

WA All Cropland Irrigated Non-Irrigated

5,6005,600

9991,910

510

1,6002,080

760

5031,510

360

1,8501,850

1,4402,600

265

2,8803,400

750

9151,100

295

5,7306,1001,950

1,6502,2001,200

1,4503,200

925

6,0006,000

1,0502,000

540

1,6802,200

780

5201,580

370

1,9001,900

1,4702,650

270

2,9603,500

775

9571,150

310

5,9206,3002,000

1,6702,2501,200

1,4703,200

950

6,4006,400

1,0602,100

580

1,7102,330

800

5481,680

400

1,9501,950

1,4503,000

270

2,9003,800

850

9721,300

340

6,0206,6002,130

1,6902,3501,250

1,5103,300

990

*9,000 *9,000

*1,170 *2,500

*650

*2,080 *3,000

*900

*652 *2,000

*490

*2,300 *2,300

*1,530 *3,500

*350

*3,060 *4,400 *1,050

*1,070 *1,600

*400

*8,230 *9,370 *2,690

1,8002,5801,360

1,6103,5501,060

12,00012,000

1,2402,800

725

2,8004,3001,140

8462,800

630

3,1003,100

1,7604,500

450

3,6505,8001,350

1,1501,900

480

8,62010,100

2,980

1,9402,9001,470

1,6603,7301,090

33.333.3

6.012.011.5

34.643.326.7

29.840.028.6

34.834.8

15.028.628.6

19.331.828.6

7.518.820.0

4.77.8

10.8

7.812.4

8.1

3.15.12.8

* Revised. 1 Only States with significant irrigated acreage appear in this table. 2 See page 17 for definition of Regions.


Pasture: Average Value per Acre, by Regionand State, January 1, 2002-2006 1



Northeast: MD NJ NY PA Oth Sts 2

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 3

CO ID MT NV 3

NM 3

UT 3

WYPacific: CA OR WA

48 States 4

2,0903,5009,700

6801,8003,590

8891,450

5751,0501,0501,0301,560

760980

1,860249400245165210

1,9101,4402,8302,2502,1001,1201,8701,3001,9502,5001,7501,1701,1501,2701,130

571435600273450410700255250155475210901

1,400440510

577

2,1903,650

10,000720

1,8503,880

9531,600

6251,1001,1201,0601,660

8001,0501,950

258410255170220

2,0001,4603,0102,3502,2501,2002,0101,3502,1002,7501,9001,2301,2101,3101,200

590450620285470430700270255160500220952

1,500450520

605

2,4705,500

10,600775

2,0004,1401,0501,800

7001,2001,2001,1101,780

8801,1302,100

279430275185240

2,2001,5303,2002,4502,8001,2802,1501,4202,2502,9502,0001,3001,3001,3501,270

624475655302500470725285260170520235

1,0201,600

470540

634

2,7707,300

11,300825

2,2004,480

*1,2901,950 *940

*1,480 *1,440 *1,720 *1,930 *1,070 *1,340

2,240 *343 *530 *320 *220 *310

*2,910 *1,980 *4,000 *3,220 *3,850 *1,660 *4,200 *1,950 *5,150 *5,600 *2,300 *1,620 *1,590 *1,670 *1,610

*830 *640 *869 *395 *650 *620 *950 *370 *350 *250 *690 *280

*1,190 *1,910

510585

*820

3,0508,300

11,700890

2,4804,9601,4902,1501,1501,7001,6101,8802,0901,3001,5002,380

396620360250360

3,3202,1004,5003,4204,8001,8805,7102,1007,5007,1502,5501,8001,7401,8001,9001,030

7601,080

6101,120

8001,630

650620400

1,160360

1,3402,160

540605

1,000

10.113.7

3.57.9

12.710.715.510.322.314.911.8

9.38.3

21.511.9

6.315.517.012.513.616.114.1

6.112.5

6.224.713.336.0

7.745.627.710.911.1

9.47.8

18.024.118.824.354.472.329.071.675.777.160.068.128.612.613.1

5.93.4

22.0

* Revised. 1 See page 17 for definition of Regions. 2 Includes: CT, DE, ME, MA, NH, RI, and VT. 3 Excludes American Indian Reservation Land. 4 Excludes Alaska and Hawaii.


Agricultural Cash Rents Highlights

Nationally, cash rents per acre paid to landlords for cropland rose 1.3 percent while pasture rentsincreased 4.9 percent for the 2006 crop and grazing year. Cropland cash rents paid in 2006 averaged $79.00 per acre, compared with $78.00 per acre for 2005. Pasture cash rents averaged $10.80 per acre,50 cents higher than 2005. The increases in cropland and pasture rental rates continue to reflectproducers’ optimism following the combination of high production and price levels of major U.S.agricultural commodities in 2005.

Cropland cash rents reported in 2006 increased in all regions except the Appalachian, Delta, andSouthern Plains regions where rental rates declined marginally. Appalachian cropland cash rentsdeclined by $2.00 from $58.00 to $56.00 per acre in 2006. Delta cropland cash rents decreased by $1.00per acre to $69.50 in 2006 while cropland cash rents in the Southern Plains decreased by $1.50 to $29.00per acre for 2006. Cash rents for cropland in the Southeast region at $48.00 per acre remainedunchanged from last year. The Corn Belt and Northern Plains regions, which together accounted forslightly more than one half of cash-rented cropland acreage, increased 1.7 percent and 0.9 percentrespectively from 2005. Cropland cash rents increased $2.00 per acre to $119.00 in the Corn Belt and50 cents per acre to $53.50 in the Northern Plains. The major corn and soybean producing States of Illinois, Indiana, and Iowa experienced increasesranging from 1.5 to 2.3 percent for cropland cash rents. Illinois and Iowa cropland cash rents averaged$132.00 and $133.00 per acre, respectively.

Cash rents for pasture land increased in all regions except the Southern Plains. Pasture cash rentsincreased by $1.00 per acre to $20.00 in the Southeast and by $2.00 per acre to $26.00 in the Northeastregion. In the Northern Plains and Southern Plains regions, which account for two-thirds of thecash-rented pasture acreage, changes were marginally higher and lower, respectively. Northern Plainscash rents for pasture increased 50 cents per acre to $12.50 while cash rents for pasture decreased by 20cents per acre to $8.20 in the Southern Plains. Wisconsin, at $38.00 per acre and unchanged from 2005,continues to lead the Nation with the highest per acre pasture rent.




Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2002-2006 1 2

Region, State,and Land Type 2002 2003 2004 2005 2006

Dollars Dollars Dollars Dollars Dollars

Northeast: DE MD NJ NY PA

Lake States: MI MN WI

Corn Belt: IL IN IA MO Non-Irrigated OH

Northern Plains: KS Irrigated Non-irrigated NE Irrigated Non-Irrigated ND SD Non-Irrigated

Appalachian: KY NC TN VA WV

Southeast: AL FL Non-Irrigated GA Irrigated Non-Irrigated SC

Delta States: AR Irrigated Non-Irrigated LA Irrigated Non-Irrigated MS Irrigated Non-Irrigated

41.0056.3055.5047.0035.0040.00

74.0060.0081.0067.00

108.00122.00101.00120.00

66.0077.00

47.0039.0070.0036.0090.00

121.0066.0036.50

42.00

51.0068.0049.5060.5036.0027.00

45.0036.00

32.0055.00

103.0039.0028.50

64.0069.0080.0053.0062.0073.0057.0062.0079.0054.00

42.0057.0055.5047.0037.0041.00

74.5060.0082.0068.00

110.00123.00103.00122.00

70.0078.00

48.0039.0068.0036.0092.00

123.0067.0036.50

45.00

52.0070.0051.0062.0036.5028.00

44.0035.00

32.0056.00

105.0040.0028.50

65.0071.0078.0055.0062.0068.0059.0063.0078.0056.00

44.5061.0059.0047.5040.0043.00

76.2062.0083.5070.00

114.00126.00107.00126.00

76.0080.00

50.0041.0072.0037.5095.00

125.0070.0037.50

47.50

55.0072.0053.0067.0039.0030.00

44.5033.00

34.0058.00

110.0042.0028.50

68.5075.0086.0059.0066.0076.0062.0066.0085.0058.00

46.0064.0062.0047.5041.0045.00

78.0062.0086.5070.00

117.00129.00109.00131.00

79.0082.00

53.0042.0073.0038.5097.00

127.00 *72.00

39.00

50.40

58.0073.00

*53.0067.0040.0028.00

48.0040.00

37.0058.00

115.0041.0029.00

70.5076.0086.0058.0066.0070.0062.0069.00

*93.0060.00

47.0065.0062.0047.5039.0046.50

80.0065.0088.0071.00

119.00132.00111.00133.00

79.0086.00

53.5044.0074.0039.00

101.00131.00

76.0039.00

53.00

56.0078.0052.0068.0039.0030.00

48.0039.00

39.0060.00

117.0043.0029.00

69.5076.0086.0056.0072.0081.0066.0068.0087.0062.00

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


Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2002-2006 1 2 (continued)

Region, State,and Land Type 2002 2003 2004 2005 2006


Southern Plains: OK Non-Irrigated TX Irrigated Non-Irrigated

Mountain: AZ Irrigated CO Irrigated Non-Irrigated ID Irrigated Non-Irrigated MT Irrigated Non-Irrigated UT Irrigated

Pacific: CA Irrigated OR Irrigated Non-Irrigated WA Irrigated

48 States 3

27.60

27.0027.0053.0021.00

60.00

135.0065.0095.0022.5096.00

116.0050.0024.0047.0018.50

60.00

180.00

310.0095.00

115.0067.50

170.00

71.60

28.00

27.5027.3055.0021.00

60.50

135.0060.0093.0023.0097.00

116.0051.0024.0048.0018.50

61.00

180.00

300.0098.00

120.0065.00

175.00

73.00

30.50

30.0029.8056.0023.70

62.50

150.0058.0091.0022.0099.00

118.0053.0024.5049.0018.90

61.00

180.00

300.00100.00125.00

65.00

185.00

76.50

30.50

29.0029.7057.5023.00

62.00

165.0061.00

100.0023.00

104.00124.00

55.0025.0053.0019.50

65.00

185.00

330.00100.00130.00

70.00

190.00

78.00

29.00

28.0028.0047.5023.00

65.00

180.0061.00

100.0023.00

108.00128.00

58.0030.0068.0020.50

60.00

192.00

320.00100.00135.00

70.00

200.00

79.00

* Revised. 1 Unless otherwise specified as irrigated or non-irrigated, data are for all cropland. 2 See page 17 for definition of Regions. 3 Excludes Alaska and Hawaii.


Pasture Rented for Cash: Average Cash Rent per Acre,by Region and State, 2002-2006 1

Region and State 2002 2003 2004 2005 2006


Northeast: PA

Lake States: MN WI

Corn Belt: IL IA MO

Northern Plains: KS NE ND SD

Appalachian: NC TN VA

Southeast: AL FL GA

Delta States: LA MS

Southern Plains: OK TX

Mountain: CO MT NM UT WY

Pacific: CA

48 States 2

22.0028.00

23.0019.0036.00

27.0032.0030.5023.00

11.1012.6011.20

9.7010.90

18.0021.5017.0016.00

18.0018.0016.0023.00

16.2016.0017.00

7.708.507.40

3.504.004.701.60

10.003.80

13.0011.00

9.20

23.0025.00

23.5019.0036.00

27.0032.5031.0023.50

11.2012.6011.50

9.8011.00

18.0022.0017.5016.50

18.5018.0017.0023.00

16.0015.0016.00

8.008.507.80

3.403.504.501.609.003.50

12.5010.60

9.00

24.0025.00

24.5019.5037.00

29.0034.0032.5026.00

11.8013.2012.0010.2011.60

19.1023.0019.0017.50

19.1018.0017.5024.00

16.6015.5016.50

8.109.007.80

3.603.705.001.70

10.004.00

13.5011.50

9.60

24.0027.00

26.9020.5038.00

30.5034.5036.0027.00

12.0013.4012.0010.6012.30

21.0025.0018.0020.00

19.0017.5018.5022.00

17.0016.5016.50

8.409.008.30

3.804.305.901.809.004.00

13.5012.00

10.30

26.0025.00

28.0019.0038.00

31.0034.0038.0026.00

12.5013.7012.5011.3012.90

22.0025.0020.0020.00

20.0018.5022.0025.00

17.5019.0016.00

8.208.508.10

4.004.005.002.00

11.004.50

14.5013.00

10.80 1 See page 17 for definition of Regions. 2 Excludes Alaska and Hawaii.


Economic Regions:

Northeast: . . . . . . . . . . . . . . . . CT, DE, ME, MD, MA, NH, NJ, NY, PA, RI, VT.Lake States: . . . . . . . . . . . . . . MI, MN, WI.Corn Belt: . . . . . . . . . . . . . . . . IL, IN, IA, MO, OH.Northern Plains: . . . . . . . . . . . KS, NE, ND, SD.Appalachian: . . . . . . . . . . . . . KY, NC, TN, VA, WV.Southeast: . . . . . . . . . . . . . . . . AL, FL, GA, SC.Delta States: . . . . . . . . . . . . . . AR, LA, MS.Southern Plains: . . . . . . . . . . . OK, TX.Mountain: . . . . . . . . . . . . . . . . AZ, CO, ID, MT, NV, NM, UT, WY.Pacific: . . . . . . . . . . . . . . . . . CA, OR, WA.


Reliability of Land Values and Cash Rents in this Report

Survey Procedures: The estimates of land values and cash rents in this report are based primarily onthe June Area Survey, conducted during the first 2 weeks of June. This annual survey uses a complete,probability-based land-area sampling frame. In 2006, the survey included a stratified sample of10,894 land areas (segments), averaging approximately 1 square mile in size.

Enumerators collecting data for the June area survey contact all agricultural producers operating landwithin the boundaries of the sampled land segments and record land value information for crop andpasture land within these segments. They also collect an estimated value of all land and buildings for theoperator’s entire farming operation and the estimated percent change from the previous year. In additionto land values, enumerators collect information on acres of crop and pasture land rented for cash and theper acre cash rent paid.

Survey reported data are reviewed for reasonableness and consistency by comparing with other datareported 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 ofthe summarized indications and any other available information for their State. FOs then set estimatesfor land values and cash rents and submit these recommendations along with their assessment of surveyand other administrative information to the Agricultural Statistics Board (ASB).

Survey data are also summarized for Regional and National levels and reviewed independently of eachState’s review. National and Regional targets are established by the ASB prior to submission of FOrecommendations. After FO recommendations are submitted, the ASB reviews the FO estimates andsupporting comments, and any conflicts with targeted Regional and National levels are resolved.

State level estimates are used to develop Regional and National estimates for land values and cash rents. The State estimates are weighted by the amount of cropland and pasture land in each state, based on themost recent Censuses of Agriculture. For the purposes of this report, cropland pastured is defined ascropland.

Published Estimates: State averages are not published for States with limited reports and/or highvariability of the survey item’s reported data.

Revision Policy: For non-census years, land value and cash rent estimates are subject to an annualrevision the following year. After the 5-year Census of Agriculture is completed, estimates for thenon-census years are subject to a final historic revision. The basis for revision must be supported byadditional 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 tosampling and non-sampling errors that are common to all surveys. Both types of error affect the"accuracy" of the estimates. Sampling error occurs because a complete census is not taken. Thesampling error measures the variation in estimates from the average of all possible samples. An estimateof 100 with a sampling error of 1.0 would mean that chances are 19 out of 20 (95 percent confidenceinterval) 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 2006 area frame survey are listed below:

U.S. Regions (range low to high)Farm Real Estate Value (%) 2.3 1.2 to 12.1All Cropland Value (%) 2.9 1.2 to 21.2 Irrigated Cropland (%) 3.5 1.2 to 12.3 Non-irrigated Cropland (%) 2.1 1.7 to 11.2Pasture Value (%) 4.2 2.3 to 22.3Cropland Cash Rent (%) 0.9 0.6 to 9.3Pasture Cash Rent (%) 6.9 2.2 to 34.6

Sampling errors cannot be applied directly to the values published in this report to determine confidenceintervals since the official estimates represent a composite of information from more than a singlesource. Non-sampling errors cannot be measured directly and can occur in complete censuses as well as samplesurveys. 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. Tominimize non-sampling errors, vigorous quality controls are used in the data collection process and alldata are carefully reviewed for consistency and reasonableness.

Released August 4, 2006, by the National Agricultural Statistics Service (NASS), Agricultural StatisticsBoard, U.S. Department of Agriculture. For information on Land Values and Cash Rents 2006Summary call Jim Williams or Kevin Hintzman at (202) 720-6146, office hours 7:30 a.m. to 4:00 p.m.ET.

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The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on thebasis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status,parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or partof an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to allprograms.) Persons with disabilities who require alternative means for communication of program information(Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice andTDD).

To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 1400 IndependenceAvenue, S.W., Washington, D.C. 20250-9410, or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDAis an equal opportunity provider and employer.

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