united states department of land values and cash rents ... · 8/3/2007 · u. s. average farm real...

United StatesDepartment ofAgriculture

NationalAgriculturalStatisticsService

Sp Sy 3 (07)

Land Values and Cash Rents2007 Summary

August 2007

Land Values and Cash Rents 2007 Summary Agricultural Statistics BoardAugust 2007 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, 1998-2007 2007 Farm Real Estate Value by State U. S. Average Cropland Value, Dollars per Acre, 1998-2007 2007 Cropland Value by State U. S. Average Pasture Value, Dollars per Acre, 1998-2007 2007 Pasture Value by State

Farm Real Estate: Average Value per Acre, by Region and State, January 1, 2003-2007 . . . . . . . . . . . . . . . . . . . . . 6

Cropland: Average Value per Acre, by Region and State, January 1, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Pasture: Average Value per Acre, by Region and State, January 1, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Farm Real Estate: Value of Farmland and Buildings, by Region and State, January 1, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Agricultural Cash Rents Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Agricultural Cash Rent Charts and Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 U. S. Average Cropland Cash Rent, Dollars per Acre, 1998-2007 2007 Cropland Cash Rent by State U. S. Average Pasture Cash Rent, Dollars per Acre, 1998-2007 2007 Pasture Cash Rent by State

Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

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

Reliability of Data in this Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19


Agricultural Land Values Highlights

Farm real estate values, a measurement of the value of all land and buildings on farms, averaged $2,160 peracre on January 1, 2007, up 14 percent from 2006. The $2,160 per acre is a record high and $260 more thana year earlier.

Both cropland and pasture values for 2007 are record highs. Cropland values rose by 13 percent to $2,700per acre, up from the previous high of $2,390 in 2006. Pasture value rose by 16 percent to $1,160 per acre.

The increase in farm real estate values continues to be driven by a combination of many factors, whichinclude strong commodity prices and farm programs, outside investments, favorable interest rates and taxincentives, and continued commercial and residential development. Livestock prices and recreational useremain the predominant influences that increase pasture land values.

Regional increases in the average value of farm real estate ranged from 9 percent in the Southeast region to18 percent in the Mountain region. The highest farm real estate values remained in the Northeast region,where development pressure continued to push the average value to $5,000 per acre. The Northern Plainsregion had the lowest farm real estate value, at $961 per acre, up 14 percent from the previous year.

The Lake region had the highest percentage increase in cropland value, up 15.7 percent from 2006. In theCorn Belt region cropland values rose 15 percent, to $3,720 per acre. The Southern Plains region alsoincreased 15 percent from the previous year, to $1,330 per acre.

The Pacific region had the highest average percentage increase in pasture value, 29 percent above 2006. Inthe Southern Plains and Mountain regions, which account for more than half of the pasture in the U.S.,pasture values per acre increased 25 percent and 18 percent, respectively.


Farm Real Estate: Average Value per Acre, by Regionand State, January 1, 2003-2007 1

Region and State 2003 2004 2005 2006 2007 Change06-07

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

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

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

10,5001,9204,220

11,2002,3002,5203,1502,1002,8502,7203,3303,1402,6501,7903,180

735850940505605

3,1102,5003,9402,8504,0501,9503,5302,4005,4003,2002,4001,7901,8701,7701,6901,000

9001,030

6982,330

9401,750

510650360

1,460370

3,1205,0901,3501,650

1,650

4,55011,40010,200

2,0508,900

11,6003,700

10,9002,0504,790

12,5002,4502,8403,5002,4003,200

*3,0503,8003,6302,9301,980

*3,490 *840 *9401,090 *575

710 *3,460

2,7504,2503,0704,9002,1504,4202,7507,2803,9002,6001,9502,0501,9001,8501,190

9701,250 *951

*3,050 *1,100

2,440 *800 *900

5202,070 *4503,2905,3901,4201,750

1,900

5,00011,70010,400

2,1509,250

11,8004,000

11,3002,2205,670

12,5002,7003,3003,9502,7803,8003,4504,3304,0003,4002,2803,800

9611,0901,230

650820

3,8202,8504,6003,4005,7002,5004,8203,1007,5704,5002,9002,1802,3002,1202,0801,4001,0801,4801,1203,4001,2502,830

9601,100

6102,550

5603,6706,0001,6501,900

2,160

9.92.62.04.93.91.78.13.78.3

18.40.0

10.216.212.915.818.813.113.910.216.015.2

8.914.416.012.813.015.510.4

3.68.2

10.716.316.3

9.012.7

4.015.411.511.812.211.612.417.611.318.417.811.513.616.020.022.217.323.224.411.611.316.2

8.6

13.7

* Revised. 1 See page 18 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, 2003-2007 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

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

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

10,5001,5304,2806,6102,2702,7501,9502,6002,8803,3703,1502,7701,8903,230

916849

1,470546907

3,0402,5003,4502,6504,1003,3003,6602,4507,2202,7502,0501,4601,4601,5101,4101,010

8461,0701,4209,0001,1702,080

6522,3001,5303,0601,0704,6208,2301,8001,610

2,110

5,0409,8008,800

11,2001,8205,1107,0902,5503,0002,1803,000

*3,240 *3,850 *3,670 *3,110 *2,090

3,5401,040 *9261,690

6101,090

*3,470 *2,900

3,6102,9205,3003,5004,5502,9508,7703,7302,1501,6001,5801,6301,590

*1,160 *890

*1,260 *1,730

*10,500 *1,320

2,800 *855

*2,900 *1,720

3,650 *1,185

4,8508,6201,9401,660

2,390

5,4509,9009,100

11,9001,9206,0007,2602,9503,4502,5003,5203,7204,4604,0503,6502,4503,9201,1701,0201,890

6701,2503,8303,0503,9503,3506,0003,9005,1503,4009,4804,4402,5001,7801,7201,8401,8101,330

9791,4701,900

10,8001,4003,1501,0003,1001,8304,0801,3305,4509,7802,1801,750

2,700

8.11.03.46.35.5

17.42.4

15.715.014.717.314.815.810.417.417.210.712.510.211.8

9.814.710.4

5.29.4

14.713.211.413.215.3

8.119.016.311.3

8.912.913.814.710.016.7

9.82.96.1

12.517.0

6.96.4

11.812.212.413.512.4

5.4

13.0

* Revised. 1 See page 18 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, 2003-2007 1

Region, State,and Land Type 2003 2004 2005 2006 2007 Change

06-07


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

1,5802,1501,540

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

8491,240

810

1,4701,9401,230

9071,240

900

7,2208,0506,100

2,7502,7502,750

1,4601,6401,320

1,5101,3601,550

1,4101,4601,400

846990840

1,0701,1501,060

*2,090 *2,750

2,050

*9261,300

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

*8901,160

880

*1,260 *1,360 *1,240

2,4502,9502,420

1,0201,410

980

1,8902,4001,640

1,2501,7001,240

9,48010,500

8,500

4,4403,7004,600

1,7201,9001,580

1,8401,6001,900

1,8101,8401,800

9791,250

970

1,4701,6301,440

17.27.3

18.0

10.28.5

10.1

11.811.613.1

14.716.414.8

8.19.97.6

19.01.4

22.7

8.99.88.2

12.913.513.1

13.818.712.5

10.07.8

10.2

16.719.916.1

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


Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, 2003-2007 1 2 (continued)

Region, State,and Land Type 2003 2004 2005 2006 2007 Change

06-07


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

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

9,0009,000

1,1702,500

650

2,0803,000

900

6522,000

490

2,3002,300

1,5303,500

350

3,0604,4001,050

1,0701,600

400

8,2309,3702,690

1,8002,5801,360

1,6103,5501,060

*10,500 *10,500

*1,320 *2,900

*800

2,8004,3001,140

*8552,800 *640

*2,900 *2,900

*1,7204,500 *380

3,6505,8001,350

*1,1851,900 *550

8,62010,100

2,980

1,9402,9001,470

1,6603,7301,090

10,80010,800

1,4003,200

900

3,1504,9501,400

1,0003,700

730

3,1003,100

1,8305,400

420

4,0807,2001,600

1,3302,150

800

9,78011,800

3,500

2,1803,3501,700

1,7504,0001,140

2.92.9

6.110.312.5

12.515.122.8

17.032.114.1

6.96.9

6.420.010.5

11.824.118.5

12.213.245.5

13.516.817.4

12.415.515.6

5.47.24.6

* Revised. 1 Only States with significant irrigated acreage appear in this table. 2 See page 18 for definition of Regions.


Pasture: Average Value per Acre, by Regionand State, January 1, 2003-2007 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

2,1903,650

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

2,2004,4801,2901,950

9401,4801,4401,7201,9301,0701,3402,240

343530320220310

2,9101,9804,0003,2203,8501,6604,2001,9505,1505,6002,3001,6201,5901,6701,610

830640869395650620950370350250690280

1,1901,910

510585

820

3,0508,300

11,700890

2,4804,960

*1,5302,1501,150

*1,800 *1,670 *2,050

2,090 *1,400 *1,550 *2,400

*408 *640 *370 *260 *370

*3,440 *2,300 *4,600 *3,520 *4,900

1,880 *5,750 *2,150

7,500 *7,300

2,5501,800

*1,7701,800

*1,8501,030

7601,080 *584 *750

8001,630 *700

620 *2751,160

3601,3402,160

540605

1,000

3,4508,500

12,1001,0203,3006,3801,8002,5701,3802,1002,0102,5002,5001,8001,8202,820

469740420300420

3,9002,6005,1003,8505,5002,1006,5002,4508,3508,1503,0002,1702,1302,1602,2301,290

9001,370

689900800

1,850850720350

1,350480

1,7302,820

630700

1,160

13.12.43.4

14.633.128.617.619.520.016.720.422.019.628.617.417.515.015.613.515.413.513.413.010.9

9.412.211.713.014.011.311.617.620.620.320.020.525.218.426.918.020.0

0.013.521.416.127.316.433.329.130.616.715.7

16.0

* Revised. 1 See page 18 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.


Farm Real Estate: Value of Farmland and Buildings, by Regionand State, January 1, 2002-2006 1

Region and StateTotal value of land and buildings

2002 2003 2004 2005 2006 Change05-06

Million Dollars Million Dollars Million Dollars Million Dollars Million 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

3,0601,9982,1928,3204,2121,2607,052

12,33325,025

4982,394

24,92241,70033,755

64,62537,14661,05641,67637,986

31,45534,88416,35118,834

25,25426,39026,91021,935

4,788

15,13028,01622,140

9,215

20,44511,37614,776

22,916101,138

10,24621,77014,63222,126

2,52611,428

8,3329,833

93,84019,78021,337

1,099,013

3,4202,1202,3988,5494,8361,3957,462

13,00526,565

5582,563

27,04144,32035,880

66,82538,65363,71744,24740,004

32,33235,57316,74520,148

26,22028,21027,84023,220

5,040

15,66429,58023,760

9,943

21,31211,77515,554

23,759105,705

10,55622,63015,10423,439

2,60311,774

8,76710,332

97,56020,64022,644

1,151,987

3,6723,1502,535

11,6855,1481,4637,995

13,52828,105

6122,688

29,49249,68038,750

71,51441,55069,74047,55842,485

33,74837,78517,92721,900

27,60029,70029,00027,360

5,400

16,27531,31025,14510,428

23,76012,40316,354

25,107111,150

10,84623,94816,04824,641

2,70611,959

9,13110,849

101,46021,50023,256

1,230,046

3,8884,3682,672

16,1165,4601,5538,295

14,49632,494

6722,875

31,81557,75043,890

90,90947,10083,74053,87945,474

40,12042,95819,89726,439

34,50034,67232,77534,425

7,020

20,64054,00033,60011,640

26,92813,80618,675

30,330133,694

13,59228,85820,65030,651

3,47515,41211,38312,728

134,37623,08524,915

1,482,690

4,1045,2532,788

18,1126,0321,6658,611

15,37536,644

7503,038

35,35065,76048,960

103,74054,45092,29559,59849,907

44,36849,81322,65531,027

37,67537,40034,99841,650

7,740

23,65072,80042,12012,610

29,31514,82020,350

32,689162,125

16,31133,77028,79248,080

4,75821,31715,81515,480

141,75724,28226,425

1,707,024

5.620.3

4.312.410.5

7.23.86.1

12.811.6

5.7

11.113.911.6

14.115.610.210.6

9.7

10.616.013.917.4

9.27.96.8

21.010.3

14.634.825.4

8.3

8.97.39.0

7.821.3

20.017.039.456.936.938.338.921.6

5.55.26.1

15.1 1 Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms. 2 Value of all land and buildings adjusted to include American Indian reservation land value. 3 Excludes Alaska and Hawaii.


Agricultural Cash Rents Highlights

Nationally, cash rents per acre paid to landlords for cropland rose $5.50 (6.9 percent), while pasture rentsincreased $1.20 (11 percent) for the 2007 crop and grazing year. Cropland cash rents paid in 2007 averaged$85.00 per acre, compared with $79.50 per acre for 2006. Pasture cash rents averaged $12.00 per acre, $1.20higher than 2006. The increases in cropland and pasture land rental rates continue to reflect producers’optimism following strong commodity prices.

Cropland cash rents reported in 2007 increased in all regions. The Mountain region had the highestpercentage increase for cropland, 20 percent above 2006. Cropland cash rents increased $7.00 per acre to$126.00 in the Corn Belt region and $4.50 per acre to $58.00 in the Northern Plains region. The Corn Beltand Northern Plains regions account for slightly more than one half of cash rented cropland acreage in theU.S. The major corn and soybean producing States of Illinois, Indiana, and Iowa experienced increases of 6.8, 8.1,and 5.3, percent respectively, for cropland cash rents. Illinois, Indiana, and Iowa cropland cash rentsaveraged $141.00, $120.00, and $140.00 per acre, respectively.

Pasture rent in the Northern Plains, Southern Plains, and Mountain regions, which account for nearly 85percent of the cash rented pasture acreage in the U.S., increased by $1.50, 60 cents, and $2.20 per acre,respectively. The Corn Belt region had the highest cash rent for pasture in the U.S.


Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2003-2007 1 2

Region, State,and Land Type 2003 2004 2005 2006 2007

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

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

127.0072.0039.00

50.40

58.0073.0053.0067.0040.0028.00

48.0040.00

37.0058.00

115.0041.0029.00

70.5076.0086.0058.0066.0070.0062.0069.0093.0060.00

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

56.0078.0052.00

*67.00 *40.00

30.00

48.0039.00

39.0060.00

*116.0043.0029.00

69.5076.0086.0056.0072.0081.0066.0068.00

*90.0062.00

48.0065.0062.0048.0039.0048.00

85.0073.0094.0072.00

126.00141.00120.00140.00

79.0091.00

58.0048.0082.0041.00

106.00139.00

79.0041.00

56.50

58.0082.0052.5068.0045.0030.00

50.0041.00

40.0060.00

116.0044.0029.50

72.5080.0090.0056.0071.0082.0066.0073.0092.0065.00

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


Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2003-2007 1 2 (continued)

Region, State,and Land Type 2003 2004 2005 2006 2007


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

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

28.0028.00

*50.0023.00

65.00

180.0061.00

100.0023.00

108.00128.00

58.00 *28.00

68.00 *20.00

60.00

192.00

320.00100.00135.00

70.00

200.00

*79.50

29.50

27.0030.0053.0023.00

78.00

170.0059.00

100.0022.00

109.00130.00

58.0028.50

19.5062.0062.00

210.00

340.00100.00135.00

72.00

210.00

85.00

* Revised. 1 Unless otherwise specified as irrigated or non-irrigated, data are for all cropland. 2 See page 18 for definition of Regions. 3 Excludes Alaska and Hawaii.


Pasture Rented for Cash: Average Cash Rent per Acre,by Region and State, 2003-2007 1

Region and State 2003 2004 2005 2006 2007


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

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

22.0025.00

*19.0020.00

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

31.0030.00

30.0019.0040.00

31.5035.0039.0026.00

14.0014.5014.0012.5013.80

22.3027.0020.0021.00

22.3019.5024.0025.00

19.5023.0018.00

8.809.508.30

6.205.506.502.00

12.004.50

17.3014.00

12.00

* Revised. 1 See page 18 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 on theJune Area Survey, conducted during the first 2 weeks of June. This annual survey uses a complete,probability-based land-area sampling frame. In 2007, the survey included a stratified sample of 10,912 landareas (segments), averaging approximately 1 square mile in size.

Enumerators collecting data for the June area survey contact all agricultural producers operating land withinthe boundaries of the sampled land segments and record land value information for crop and pasture landwithin these segments. They also collect an estimated value of all land and buildings for the operator’s entirefarming operation and the estimated percent change from the previous year. In addition to land values,enumerators collect information on acres of crop and pasture land rented for cash and the per acre cash rentpaid.

Survey reported data are reviewed for reasonableness and consistency by comparing with other data reportedin 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 thesummarized indications and any other available information for their State. FOs then set estimates for landvalues and cash rents and submit these recommendations along with their assessment of survey and otheradministrative information to the Agricultural Statistics Board (ASB).

Survey data are also summarized for Regional and National levels and reviewed independently of each State’sreview. National and Regional 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 Regional andNational levels are resolved.

The State estimates are weighted by the amount of cropland and pasture in each state, based on the mostrecent Censuses 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 variabilityof the survey item’s reported data.

Revision Policy: For non-census years, land value and cash rent estimates are subject to an annual revisionthe following year. After the 5-year Census of Agriculture is completed, estimates for the non-census yearsare subject to a final historic revision. The basis for revision must be supported by additional data thatdirectly 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" ofthe estimates. Sampling error occurs because a complete census is not taken. The sampling error measuresthe variation in estimates from the average of all possible samples. An estimate of 100 with a sampling errorof 1.0 would mean that chances are 19 out of 20 (95 percent confidence interval) that the estimates from allpossible samples averaged together would be between 98 and 102 (the survey indication plus or minus twotimes the sampling error).

The sampling errors from the 2007 area frame survey are listed below:

U.S. Regions (range low to high)Farm Real Estate Value (%) 6.2 1.2 to 32.5All Cropland Value (%) 1.5 1.3 to 8.7 Irrigated Cropland (%) 4.2 1.3 to 15.7 Non-irrigated Cropland (%) 2.9 2.0 to 12.9Pasture Value (%) 3.8 2.4 to 21.6Cropland Cash Rent (%) 0.9 0.6 to 9.7Pasture Cash Rent (%) 3.6 2.5 to 35.5

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 single source. 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, differencesin interpreting questions or definitions, and mistakes in coding or processing data. To minimizenon-sampling errors, vigorous quality controls are used in the data collection process and all data are carefullyreviewed for consistency and reasonableness.

Released August 3, 2007, by the National Agricultural Statistics Service (NASS), Agricultural StatisticsBoard, U.S. Department of Agriculture. For information on Land Values and Cash Rents 2007 Summary callScott Shimmin at (202) 690-3231, office hours 7:30 a.m. to 4:00 p.m. ET.

ACCESS TO REPORTS!!

For your convenience, there are several ways to obtain NASS reports, data products, and services:

INTERNET ACCESS

All NASS reports are available free of charge on the worldwide Internet. For access, connect to the Internet and goto the NASS Home Page at: www.nass.usda.gov.

E-MAIL SUBSCRIPTION

All NASS reports are available by subscription free of charge direct to your e-mail address. Starting with the NASSHome Page at www.nass.usda.gov, under the right navigation, Receive reports by Email, click on National orState. Follow the instructions on the screen.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

PRINTED REPORTS OR DATA PRODUCTS

CALL OUR TOLL-FREE ORDER DESK: 800-999-6779 (U.S. and Canada)Other areas, please call 703-605-6220 FAX: 703-605-6900

(Visa, MasterCard, check, or money order acceptable for payment.)

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

ASSISTANCE

For assistance with general agricultural statistics or further information about NASS or its products or services,contact the 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 in all its programs and activities on the basis ofrace, 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 a part of an individual’sincome is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons withdisabilities 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 and TDD).

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

united states department of land values and cash rents ... · 8/3/2007 · u. s. average farm real...

Documents