United States Department of Agriculture National Agricultural Statistics Service

Land Values 2014 Summary August 2014

ISSN: 1949-1867

Contents Agricultural Land Values Highlights ...................................................................................................................................... 4 Farm Real Estate, Average Value per Acre – United States: 2005-2014 .............................................................................. 5 2014 Farm Real Estate Value by State, Dollars per Acre and Percent Change from 2013 .................................................... 5 Cropland, Average Value per Acre – United States: 2005-2014 ............................................................................................ 6 2014 Cropland Value by State, Dollars per Acre and Percent Change from 2013 ................................................................. 6 Pasture, Average Value per Acre – United States: 2005-2014 ............................................................................................... 7 2014 Pasture Value by State, Dollars per Acre and Percent Change from 2013 .................................................................... 7 Farm Real Estate, Average Value per Acre – Region, State, and United States: 2010-2014 ................................................. 8 Cropland, Average Value per Acre – Region, State, and United States: 2010-2014 ............................................................ 10 Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2010-2014 ........................................................... 12 Pasture Average Value per Acre – Region, State, and United States: 2010-2014 ................................................................ 14 Value of Farmland and Buildings – Region, State, and United States: 2009-2013 .............................................................. 16 Economic Regions ............................................................................................................................................................... 18 Statistical Methodology ........................................................................................................................................................ 19 Terms and Definitions........................................................................................................................................................... 20 Information Contacts ............................................................................................................................................................ 21

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

3

Agricultural Land Values Highlights The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,950 per acre for 2014, up 8.1 percent from 2013 values. Regional changes in the average value of farm real estate ranged from a 16.3 percent increase in the Northern Plains region to 1.1 percent increase in the Southeast region. The highest farm real estate values were in the Corn Belt region at $6,370 per acre. The Mountain region had the lowest farm real estate value at $1,070 per acre. The United States cropland value increased by $290 per acre (7.6 percent) to $4,100 per acre from the previous year. In the Northern Plains region, the average cropland value increased 13.6 from the previous year. However, in the Mountain region, cropland values decreased by 5.1 percent. The United States pasture value increased to $1,300 per acre, or 11.1 percent above 2013. The Southeast region had the smallest percentage increase in pasture value, 0.5 percent above 2013. The Northern Plains had the highest increase at 26.5 percent.

4

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Average Farm Real Estate Value - United States Dollars per acre 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2005

2006

2007

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

2008

2009

2010

2011

2012

2013

2014

5

Average Cropland Value - United States Dollars per acre 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2005

6

2006

2007

2008

2009

2010

2011

2012

2013

2014

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Average Pasture Value - United States Dollars per acre 1400 1200 1000 800 600 400 200 0 2005

2006

2007

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

2008

2009

2010

2011

2012

2013

2014

7

Farm Real Estate, Average Value per Acre – Region, State, and United States: 2010-2014 Region and state

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Northeast ........................................ Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ......................................

4,690 11,500 8,130 2,050 6,980 11,200 4,690 13,100 2,400 5,050 14,600 2,900

4,690 11,600 8,140 2,080 6,870 10,900 4,560 12,800 2,450 5,070 14,400 2,980

4,790 11,200 8,150 2,070 6,760 10,400 4,440 12,300 2,650 5,300 13,800 3,060

4,850 11,100 8,170 2,100 6,930 10,400 4,310 12,800 2,600 5,430 13,800 3,200

4,930 11,200 8,180 2,080 6,900 10,400 4,280 12,800 2,700 5,600 13,700 3,260

1.6 0.9 0.1 -1.0 -0.4 -0.7 3.8 3.1 -0.7 1.9

Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ...................................

3,220 3,490 2,870 3,650

3,450 3,600 3,160 3,880

3,880 3,890 3,740 4,110

4,240 4,300 4,300 4,100

4,640 4,700 4,750 4,400

9.4 9.3 10.5 7.3

Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................

3,830 4,720 4,170 4,350 2,270 3,850

4,460 5,390 5,070 5,410 2,420 4,160

5,190 6,210 5,840 6,530 2,710 4,640

5,880 7,100 6,400 7,700 2,850 5,100

6,370 7,520 6,950 8,500 3,100 5,550

8.3 5.9 8.6 10.4 8.8 8.8

Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota ..............................

1,080 1,060 1,470 821 945

1,290 1,240 1,840 930 1,090

1,620 1,510 2,420 1,160 1,330

1,960 1,750 2,800 1,550 1,690

2,280 2,050 3,120 1,820 2,070

16.3 17.1 11.4 17.4 22.5

Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................

3,480 2,780 4,120 3,460 4,500 2,330

3,520 2,750 4,340 3,510 4,350 2,580

3,530 2,840 4,330 3,520 4,260 2,540

3,610 3,020 4,340 3,570 4,310 2,550

3,690 3,150 4,510 3,600 4,320 2,560

2.2 4.3 3.9 0.8 0.2 0.4

See footnote(s) at end of table.

8

--continued

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Farm Real Estate, Average Value per Acre – Region, State, and United States: 2010-2014 (continued) Region and state

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina .............................

3,630 2,300 5,090 3,770 2,950

3,610 2,340 5,130 3,610 2,980

3,530 2,390 5,160 3,260 3,010

3,590 2,500 5,200 3,300 2,980

3,630 2,600 5,250 3,300 3,010

1.1 4.0 1.0 1.0

Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ...................................

2,210 2,400 2,050 2,080

2,300 2,440 2,200 2,200

2,440 2,620 2,400 2,250

2,520 2,700 2,550 2,270

2,640 2,850 2,670 2,340

4.8 5.6 4.7 3.1

Southern Plains ............................... Oklahoma .................................... Texas ...........................................

1,520 1,200 1,600

1,580 1,260 1,670

1,620 1,370 1,690

1,630 1,450 1,680

1,790 1,580 1,850

9.8 9.0 10.1

Mountain .......................................... Arizona 1 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 1 ...................................... New Mexico 1 ............................... Utah 1 .......................................... Wyoming .....................................

902 3,390 1,080 2,110 700 997 460 1,810 540

899 3,330 1,100 2,060 710 995 470 1,800 560

953 3,370 1,170 2,140 760 1,040 520 1,800 590

1,010 3,500 1,280 2,220 790 1,040 500 1,900 600

1,070 3,740 1,350 2,360 860 1,080 540 2,030 630

5.9 6.9 5.5 6.3 8.9 3.8 8.0 6.8 5.0

Pacific .............................................. California ..................................... Oregon ........................................ Washington ..................................

4,070 6,660 1,830 2,030

4,100 6,670 1,900 2,060

4,270 6,880 1,960 2,260

4,290 6,900 1,970 2,300

4,520 7,300 2,050 2,500

5.4 5.8 4.1 8.7

United States 2 .................................

2,150

2,300

2,520

2,730

2,950

8.1

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

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

9

Cropland, Average Value per Acre – Region, State, and United States: 2010-2014 Region and state

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

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

5,270 7,930 6,790 13,300 2,400 5,710 7,220

5,200 7,840 6,680 12,900 2,400 5,630 7,170

5,280 7,850 6,570 12,400 2,600 5,760 7,120

5,260 7,870 6,470 12,900 2,550 5,840 7,060

5,260 7,880 6,470 13,000 2,530 5,840 7,020

0.1 0.8 -0.8 -0.6

Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ...................................

3,010 3,160 2,710 3,550

3,310 3,370 3,070 3,780

3,790 3,660 3,740 4,000

4,240 4,120 4,390 4,010

4,670 4,500 4,870 4,350

10.1 9.2 10.9 8.5

Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................

4,090 4,720 4,270 4,450 2,600 3,900

4,810 5,480 5,070 5,600 2,790 4,160

5,600 6,300 5,840 6,810 3,120 4,640

6,470 7,190 6,590 8,000 3,500 5,190

7,000 7,700 7,050 8,750 3,810 5,650

8.2 7.1 7.0 9.4 8.9 8.9

Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota ..............................

1,410 1,110 2,430 840 1,520

1,730 1,340 3,130 987 1,790

2,210 1,650 4,190 1,260 2,200

2,720 1,930 4,860 1,750 2,840

3,090 2,260 5,180 2,050 3,430

13.6 17.1 6.6 17.1 20.8

Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................

3,490 3,070 3,650 3,310 4,600 3,300

3,440 3,080 3,610 3,270 4,350 3,340

3,550 3,210 3,850 3,260 4,500 3,250

3,690 3,430 4,050 3,340 4,450 3,200

3,780 3,550 4,200 3,400 4,460 3,210

2.4 3.5 3.7 1.8 0.2 0.3

See footnote(s) at end of table.

10

--continued

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Cropland, Average Value per Acre – Region, State, and United States: 2010-2014 (continued) Region and State

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina .............................

3,800 2,630 6,550 3,390 2,560

3,810 2,680 6,580 3,360 2,590

3,710 2,750 6,420 3,130 2,620

3,690 2,750 6,450 3,080 2,440

3,730 2,850 6,500 3,080 2,460

1.1 3.6 0.8 0.8

Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ...................................

1,890 1,910 1,800 1,950

2,020 1,990 1,970 2,100

2,160 2,180 2,120 2,180

2,380 2,380 2,260 2,470

2,510 2,540 2,380 2,570

5.5 6.7 5.3 4.0

Southern Plains ............................... Oklahoma .................................... Texas ...........................................

1,400 1,130 1,510

1,450 1,130 1,580

1,500 1,280 1,590

1,480 1,390 1,520

1,630 1,500 1,680

10.1 7.9 10.5

Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming .....................................

1,520 7,750 1,290 2,480 779 (D) 1,750 2,720 1,230

1,540 7,610 1,340 2,470 806 (D) 1,740 2,690 1,320

1,600 7,960 1,450 2,580 852 (D) 1,550 2,690 1,360

1,780 8,290 1,770 2,850 890 (D) 1,450 3,230 1,360

1,690 8,320 1,840 3,040 987 2,670 1,450 3,260 1,370

-5.1 0.4 4.0 6.7 10.9 (X) 0.9 0.7

Pacific .............................................. California ..................................... Oregon ........................................ Washington ..................................

4,980 8,960 2,210 1,870

5,070 9,130 2,180 1,930

5,310 9,400 2,340 2,190

5,690 9,860 2,400 2,420

5,860 10,140 2,500 2,560

3.0 2.8 4.2 5.8

United States 3 .................................

2,700

2,980

3,350

3,810

4,100

7.6

- 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.

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

11

Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2010-2014 [Only States with significant irrigated acreage appear in this table] Region, State, and land type

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Corn Belt Missouri all cropland .................................... Irrigated .................................................. Non-irrigated ..........................................

2,600 3,140 2,560

2,790 3,320 2,750

3,120 3,640 3,080

3,500 4,140 3,450

3,810 4,750 3,730

8.9 14.7 8.1

Northern Plains Kansas all cropland ...................................... Irrigated .................................................. Non-irrigated ..........................................

1,110 1,540 1,060

1,340 1,810 1,290

1,650 2,250 1,590

1,930 2,760 1,840

2,260 3,280 2,150

17.1 18.8 16.8

Nebraska all cropland .................................. Irrigated .................................................. Non-irrigated ..........................................

2,430 3,050 2,030

3,130 4,080 2,510

4,190 5,610 3,270

4,860 6,700 3,730

5,180 7,100 4,000

6.6 6.0 7.2

South Dakota all cropland ............................ Irrigated .................................................. Non-irrigated ..........................................

1,520 (D) 1,510

1,790 (D) 1,780

2,200 (D) 2,190

2,840 (D) 2,820

3,430 (D) 3,400

20.8 (X) 20.6

Southeast Florida all cropland ....................................... Irrigated .................................................. Non-irrigated ..........................................

6,550 7,100 6,040

6,580 7,090 6,110

6,420 7,180 5,720

6,450 7,280 5,660

6,500 7,430 5,630

0.8 2.1 -0.5

Georgia all cropland ..................................... Irrigated .................................................. Non-irrigated ..........................................

3,390 3,090 3,480

3,360 3,140 3,420

3,130 2,980 3,170

3,080 3,120 3,070

3,080 3,430 2,950

9.9 -3.9

Delta Arkansas all cropland ................................... Irrigated .................................................. Non-irrigated ..........................................

1,910 2,160 1,630

1,990 2,300 1,640

2,180 2,530 1,790

2,380 2,790 1,760

2,540 3,000 1,840

6.7 7.5 4.5

Louisiana all cropland .................................. Irrigated .................................................. Non-irrigated ..........................................

1,800 1,700 1,830

1,970 1,850 2,000

2,120 2,000 2,150

2,260 2,150 2,300

2,380 2,270 2,420

5.3 5.6 5.2

Mississippi all cropland ................................. Irrigated .................................................. Non-irrigated ..........................................

1,950 2,020 1,930

2,100 2,330 2,020

2,180 2,440 2,090

2,470 2,760 2,330

2,570 2,930 2,390

4.0 6.2 2.6

Southern Plains Oklahoma all cropland ................................. Irrigated .................................................. Non-irrigated ..........................................

1,130 (D) 1,120

1,130 (D) 1,120

1,280 (D) 1,270

1,390 (D) 1,370

1,500 (D) 1,480

7.9 (X) 8.0

Texas all cropland ........................................ Irrigated .................................................. Non-irrigated ..........................................

1,510 1,680 1,480

1,580 1,670 1,560

1,590 1,660 1,580

1,520 1,700 1,490

1,680 1,880 1,650

10.5 10.6 10.7

See footnote(s) at end of table.

12

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Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2010-2014 (continued) [Only States with significant irrigated acreage appear in this table] Region, State, and land type

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Mountain Arizona all cropland 1 ............................................. Irrigated ...........................................................

7,750 7,750

7,610 7,610

7,960 7,960

8,290 8,290

8,320 8,320

0.4 0.4

Colorado all cropland ............................................. Irrigated ........................................................... Non-irrigated ....................................................

1,290 3,100 840

1,340 3,160 880

1,450 3,400 960

1,770 4,100 1,200

1,840 4,450 1,200

4.0 8.5 -

Idaho all cropland .................................................. Irrigated ........................................................... Non-irrigated ....................................................

2,480 3,820 1,230

2,470 3,820 1,210

2,580 4,040 1,210

2,850 4,240 1,310

3,040 4,600 1,320

6.7 8.5 0.8

Montana all cropland ............................................. Irrigated ........................................................... Non-irrigated ....................................................

779 2,690 600

806 2,690 630

852 2,690 680

890 2,780 710

987 2,950 800

10.9 6.1 12.7

Nevada all cropland 1 ............................................. Irrigated ...........................................................

(D) (D)

(D) (D)

(D) (D)

(D) (D)

2,670 2,670

(X) (X)

New Mexico all cropland 1 ...................................... Irrigated ........................................................... Non-irrigated ....................................................

1,750 5,290 390

1,740 5,190 410

1,550 4,450 430

1,450 3,910 400

1,450 3,930 390

0.5 -2.5

Utah all cropland 1 .................................................. Irrigated ........................................................... Non-irrigated ....................................................

2,720 5,050 1,040

2,690 5,000 1,030

2,690 5,000 1,030

3,230 5,200 1,100

3,260 5,250 1,120

0.9 1.0 1.8

Wyoming all cropland ............................................. Irrigated ........................................................... Non-irrigated ....................................................

1,230 2,010 720

1,320 2,140 (D)

1,360 2,170 (D)

1,360 2,140 (D)

1,370 2,190 780

0.7 2.3 (X)

Pacific California all cropland ............................................ Irrigated ........................................................... Non-irrigated ....................................................

8,960 10,900 3,420

9,130 11,100 3,480

9,400 11,500 3,390

9,860 11,800 3,400

10,140 12,100 3,650

2.8 2.5 7.4

Oregon all cropland ............................................... Irrigated ........................................................... Non-irrigated ....................................................

2,210 3,520 1,730

2,180 3,470 1,710

2,340 3,920 1,770

2,400 3,940 1,830

2,500 4,140 1,900

4.2 5.1 3.8

Washington all cropland ......................................... Irrigated ........................................................... Non-irrigated ....................................................

1,870 4,650 1,140

1,930 5,130 1,080

2,190 6,190 1,130

2,420 7,240 1,170

2,560 7,670 1,230

5.8 5.9 5.1

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

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

13

Pasture Average Value per Acre – Region, State, and United States: 2010-2014 Region and State

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

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

3,170 (D) 14,200 1,100 2,530 5,800

3,220 (D) 14,000 1,200 2,640 5,730

3,240 (D) 13,600 1,250 2,650 5,760

3,370 (D) 13,500 1,240 2,770 5,840

3,460 6,000 13,500 1,330 2,900 5,790

2.7 (X) 7.3 4.7 -0.9

Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ...................................

1,710 2,290 1,340 2,000

1,710 2,340 1,320 2,000

1,740 2,290 1,390 2,010

1,870 2,420 1,580 2,000

1,950 2,500 1,600 2,150

4.3 3.3 1.3 7.5

Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................

1,900 2,500 2,340 2,030 1,600 2,890

2,000 2,650 2,390 2,520 1,610 2,840

2,130 2,870 2,450 2,800 1,700 2,970

2,290 3,370 2,500 3,220 1,790 3,010

2,360 3,400 2,550 3,400 1,850 3,100

3.1 0.9 2.0 5.6 3.4 3.0

Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota ..............................

502 761 459 357 429

531 773 503 389 453

648 938 617 458 561

754 1,150 643 578 667

954 1,300 900 750 860

26.5 13.0 40.0 29.8 28.9

Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................

3,240 2,360 4,410 3,510 4,400 1,840

3,170 2,290 4,590 3,460 4,060 2,010

3,110 2,330 4,330 3,410 3,920 1,980

3,210 2,560 4,530 3,380 3,930 1,990

3,280 2,700 4,760 3,400 3,930 2,000

2.2 5.5 5.1 0.6 0.5

See footnote(s) at end of table.

14

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Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Pasture, Average Value per Acre – Region, State, and United States: 2010-2014 (continued) Region and State

2010

2011

2012

2013

2014

Change 2013-2014

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

(percent)

Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina .............................

4,190 1,810 5,360 5,220 2,950

3,900 1,830 4,910 4,750 2,980

3,700 1,850 4,820 3,910 2,960

3,770 2,000 4,850 3,850 2,820

3,790 2,100 4,910 3,650 2,900

0.5 5.0 1.2 -5.2 2.8

Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ...................................

2,110 2,210 2,100 1,980

2,120 2,160 2,200 2,000

2,130 2,110 2,300 2,030

2,190 2,160 2,400 2,070

2,270 2,240 2,500 2,110

3.7 3.7 4.2 1.9

Southern Plains ............................... Oklahoma .................................... Texas ...........................................

1,300 987 1,370

1,350 985 1,430

1,390 1,060 1,460

1,410 1,210 1,450

1,540 1,360 1,580

9.2 12.4 9.0

Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming .....................................

518 920 650 1,260 530 (D) 280 920 420

523 (D) 640 1,230 530 (D) 290 920 450

550 (D) 640 1,220 570 (D) 330 920 480

594 (D) 680 1,220 580 (D) 320 950 470

611 940 760 1,220 640 (D) 360 1,050 490

2.9 (X) 11.8 10.3 (X) 12.5 10.5 4.3

Pacific .............................................. California ..................................... Oregon ........................................ Washington ..................................

1,660 2,790 650 810

1,620 2,710 640 810

1,590 2,680 600 800

1,590 2,650 620 800

1,610 2,700 630 810

1.3 1.9 1.6 1.3

United States 3 .................................

1,060

1,070

1,110

1,170

1,300

11.1

- Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1 Includes: Connecticut, Delaware, Maine, Maryland (excludes 2014), Massachusetts, New Hampshire, Rhode Island, and Vermont. 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii.

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

15

Value of Farmland and Buildings – Region, State, and United States: 2009-2013 [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] Total value of land and buildings Region and State

2009

2010

2011

2012

2013

Change 2012-2013

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

5,040 4,366 2,982 15,203 6,240 2,242 9,936 17,040 39,424 1,106 3,542

4,715 4,065 2,870 14,309 5,936 2,204 9,301 17,040 38,633 1,022 3,596

4,872 4,151 2,912 14,015 5,777 2,098 9,216 17,395 38,380 1,008 3,695

4,928 4,157 3,002 13,723 5,408 2,087 8,856 19,027 40,810 966 3,825

4,884 4,085 3,150 14,207 5,408 2,026 9,216 18,720 41,811 966 4,000

-0.9 -1.7 4.9 3.5 -2.9 4.1 -1.6 2.5 4.6

Lake States ..................................... Michigan ..................................... Minnesota ................................... Wisconsin ...................................

36,590 74,465 55,130

34,830 75,481 53,655

36,000 82,476 56,648

38,706 97,240 60,006

42,785 111,370 59,860

10.5 14.5 -0.2

Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................

119,705 58,568 116,046 62,208 52,807

126,968 61,674 133,110 65,149 53,284

145,530 74,529 165,546 68,970 57,408

167,049 85,848 199,818 76,693 64,960

190,990 94,080 235,620 80,940 71,400

14.3 9.6 17.9 5.5 9.9

Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota ..............................

46,662 60,060 30,373 38,237

48,972 66,738 32,430 41,013

57,164 83,536 36,735 47,197

69,611 109,626 45,588 57,589

80,675 126,840 60,915 73,177

15.9 15.7 33.6 27.1

Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ...............................

37,800 35,785 35,534 38,475 8,732

37,252 34,608 37,368 36,900 8,388

36,300 36,022 37,908 35,670 9,288

36,920 36,415 38,368 35,358 9,169

39,260 36,456 38,913 35,773 9,180

6.3 0.1 1.4 1.2 0.1

See footnote(s) at end of table.

16

--continued

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Value of Farmland and Buildings – Region, State, and United States: 2009-2013 (continued) [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] Total value of land and buildings Region and state

2009

2010

2011

2012

2013

Change 2012-2013

(million dollars)

(million dollars)

(million dollars)

(million dollars)

(million dollars)

(percent)

Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina .............................

20,025 49,555 39,494 14,357

20,470 47,846 36,569 14,750

20,826 48,479 35,017 14,900

21,271 49,278 31,296 14,960

22,500 49,660 31,350 14,811

5.8 0.8 0.2 -1.0

Delta States ..................................... Arkansas ..................................... Louisiana ..................................... Mississippi ...................................

32,058 15,662 21,816

32,880 16,298 22,672

33,428 17,270 23,980

36,156 18,960 24,525

37,260 20,018 24,743

3.1 5.6 0.9

Southern Plains ............................... Oklahoma .................................... Texas ...........................................

40,135 201,807

41,640 210,560

43,344 219,605

47,128 220,038

49,880 218,568

5.8 -0.7

Mountain .......................................... Arizona 1 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 1 ...................................... New Mexico 1 ............................... Utah 1 .......................................... Wyoming .....................................

15,846 34,430 25,300 42,350 4,882 18,861 12,773 15,900

13,298 34,020 24,265 42,420 4,877 18,597 12,840 16,200

13,796 34,760 23,896 43,097 4,838 18,814 12,773 16,800

17,960 37,323 25,252 45,448 5,071 20,641 12,773 17,936

18,506 40,576 26,196 47,163 5,113 19,929 13,439 18,120

3.0 8.7 3.7 3.8 0.8 -3.4 5.2 1.0

Pacific .............................................. California ..................................... Oregon ........................................ Washington ..................................

167,790 28,851 29,054

169,830 29,646 29,638

170,752 30,780 30,076

176,128 31,948 33,222

175,950 32,505 34,040

-0.1 1.7 2.5

United States 2 .................................

1,845,244

1,890,827

2,027,677

2,223,067

2,397,034

7.8

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

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

17

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.

18

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Statistical Methodology Survey Procedures: The estimates of land values in this report are based primarily on the June Area Survey, conducted during the first two weeks of June. This annual survey uses a complete, probability-based land-area sampling frame. A sample of approximately 11,000 segments of land is selected, each approximately one square mile in size. Enumerators collecting data for the June Area Survey contact all agricultural producers operating land within the boundaries of the sampled land segments and record land value information for cropland and pasture within these segments. They also collect an estimated value of all land and buildings for the operator’s entire farming operation and the estimated percent change from the previous year. Survey reported data are reviewed for reasonableness and consistency by comparing with other data reported in the survey and with data reported within the segment the previous year. Estimating Procedures: Once the data are summarized, each Regional Field Office (RFO) conducts an analysis of the summarized indications and any other available information for their States. RFOs then set estimates for land values and submit these recommendations along with their assessment of survey and other administrative information to the Agricultural Statistics Board (ASB). Survey data are also summarized for Regional and National levels and reviewed independently of each State’s review. National targets are established by the ASB. After RFO recommendations are submitted, the ASB reviews the RFO estimates and supporting comments and any conflicts with targeted National levels are resolved. The Regional and US 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. 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.

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

19

Terms and Definitions Farm: Any establishment from which $1,000 or more of agricultural products were sold or would normally be sold during the year. Government payments are included in sales. Farm real estate value: The value at which all land and buildings used for agriculture production including dwellings, could be sold under current market conditions, if allowed to remain on the market for a reasonable amount of time. Cropland value: The value of land used to grow field crops, vegetables or land harvested for hay. Land that switches back and forth between cropland and pasture should be valued as cropland. Hay land, idle cropland and cropland enrolled in government conservation programs should be valued as cropland. Irrigated cropland value: The value of land that normally receives or has the potential to receive water by artificial means to supplement natural rainfall. Irrigated cropland may consist of both land that will or will not be irrigated during the current year, but still has the facilities and equipment to do so. Irrigation facilities and equipment such as wells, pumps, canals, ditches, reservoirs, lakes, tanks, ponds, rivers, streams or creeks are usually present or on nearby acres. Non-irrigated cropland value: The value of land that only receives water by natural rainfall. Pasture, grazing and grassland value: The value of land that is normally grazed by livestock. Pasture does not need to have livestock grazing on it at the time of interview or during the current year in order to be valued as pasture or grazing land.

20

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

Information Contacts Listed below are the commodity statisticians in the Environmental, Economics, and Demographics Branch of the National Agricultural Statistics Service to contact for additional information. E-mail inquiries may be sent to [email protected]. Troy Joshua, Chief, Environmental, Economics, and Demographics Branch ................................................. (202) 720-6146 Tony Dorn, Head, Economics Section ............................................................................................................. (202) 690-3223 Rachel Antzak – Cash Receipts, Land Values .......................................................................................... (202) 720-5446 Daryl Brinkman – Prices Received, Prices Received Indexes .................................................................. (202) 720-8844 Tynesha Boomer – Agricultural Resource Management Survey (ARMS) ............................................... (202) 690-1052 Kuan Chen – Prices, Prices Research ........................................................................................................ (202) 690-3347 Chris Dickerson – Prices Received, Prices Received Indexes .................................................................. (202) 690-1348 Mark Gorsak – Prices, Prices Research .................................................................................................... (202) 720-2250 Judy McDermott – Prices Paid, Prices Paid Indexes ................................................................................. (202) 690-3225 Michael Mathison – Agriculture Resource Management Survey (ARMS)............................................... (202) 720-3243 Joe Hagedorn – Cash Rents, Grazing Fees ................................................................................................ (202) 690-3231 Scott Shimmin, Head, Environmental and Demographics Section.................................................................. (202) 690-0684 Liana Cuffman – Chemical Use, American Indians, Census .................................................................... (202) 690-0392 David Colwell – Census of Agricultural Industrial Reports...................................................................... (202) 690-3233 Doug Farmer – Census .............................................................................................................................. (202) 720-7492 Steve Peterson – Farms, Land in Farms, Census ....................................................................................... (202) 720-5581 Jackie Ross – Census ................................................................................................................................. (202) 720-7644 Theresa Varner – Farm Labor, Chemical Use ........................................................................................... (202) 690-2284

Land Values 2014 Summary (August 2014) USDA, National Agricultural Statistics Service

21

Released August 1, 2014, 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: http://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 http://www.nass.usda.gov and in the “Follow NASS” box under “Receive reports by Email,” click on “National” or “State” to select the reports you would like to receive. 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 http://www.ascr.usda.gov/complaint_filing_cust.html, 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].