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.
Land Values 2012 Summary (August 2012) 5 USDA, National Agricultural Statistics Service
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
6 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
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
Land Values 2012 Summary (August 2012) 7 USDA, National Agricultural Statistics Service
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
8 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
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
Land Values 2012 Summary (August 2012) 9 USDA, National Agricultural Statistics Service
Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)
Region and State 1 2008 2009 2010 2011 2012 Change
2011-2012
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 3 .................................
3,940 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.
10 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
Cropland, 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 ........................................ 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
-
See footnote(s) at end of table. --continued
Land Values 2012 Summary (August 2012) 11 USDA, National Agricultural Statistics Service
Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)
Region and State 1 2008 2009 2010 2011 2012 Change
2011-2012
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 3 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 3 ...................................... New Mexico 3 ............................... Utah 3 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 5 .................................
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.
12 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
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
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Corn Belt Missouri all cropland .................................... Irrigated .................................................. Non-irrigated .......................................... Northern Plains Kansas all cropland ...................................... Irrigated .................................................. Non-irrigated .......................................... Nebraska all cropland .................................. Irrigated .................................................. Non-irrigated .......................................... South Dakota all cropland ............................ Irrigated .................................................. Non-irrigated .......................................... Southeast Florida all cropland ....................................... Irrigated .................................................. Non-irrigated .......................................... Georgia all cropland ..................................... Irrigated .................................................. Non-irrigated .......................................... Delta Arkansas all cropland ................................... Irrigated .................................................. Non-irrigated .......................................... Louisiana all cropland .................................. Irrigated .................................................. Non-irrigated .......................................... Mississippi all cropland ................................. Irrigated .................................................. Non-irrigated .......................................... Southern Plains Oklahoma all cropland ................................. Irrigated .................................................. Non-irrigated .......................................... Texas all cropland ........................................ Irrigated .................................................. Non-irrigated ..........................................
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
See footnote(s) at end of table. --continued
Land Values 2012 Summary (August 2012) 13 USDA, National Agricultural Statistics Service
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
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
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.
14 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
Pasture 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 ........................................ 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
-
See footnote(s) at end of table. --continued
Land Values 2012 Summary (August 2012) 15 USDA, National Agricultural Statistics Service
Pasture, Average Value per Acre – Region, State, and United States: 2008-2012 (continued)
Region and State 1 2008 2009 2010 2011 2012 Change
2011-2012
(dollars) (dollars) (dollars) (dollars) (dollars) (percent)
Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... Southern Plains ............................... Oklahoma .................................... Texas ........................................... Mountain .......................................... Arizona 3 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 3 ...................................... New Mexico 3 ............................... Utah 3 .......................................... Wyoming ..................................... Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. United States 5 .................................
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.
16 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
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
See footnote(s) at end of table. --continued
Land Values 2012 Summary (August 2012) 17 USDA, National Agricultural Statistics Service
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.
18 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
Economic Regions:
Northeast: .................... Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New
York, Pennsylvania, Rhode Island, Vermont.
Lake States: ................. Michigan, Minnesota, Wisconsin.
Corn Belt: .................... Illinois, Indiana, Iowa, Missouri, Ohio.
Northern Plains: ......... Kansas, Nebraska, North Dakota, South Dakota.
Appalachian: ............... Kentucky, North Carolina, Tennessee, Virginia, West Virginia.
Southeast: .................... Alabama, Florida, Georgia, South Carolina.
Delta States: ................ Arkansas, Louisiana, Mississippi.
Southern Plains: ......... Oklahoma, Texas.
Mountain: .................... Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming.
Pacific: ......................... California, Oregon, Washington.
Land Values 2012 Summary (August 2012) 19 USDA, National Agricultural Statistics Service
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
20 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
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.
Land Values 2012 Summary (August 2012) 21 USDA, National Agricultural Statistics Service
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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