USDA land value report shows cropland values remain stable
Although commodity prices and farm incomes have fallen, U.S. farmland values have remained stable, the Agriculture Department’s National Agricultural Statistics Service reported Aug. 4 in the Land Values 2017 Summary report.
“The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,080 per acre for 2017, up $70 per acre (2.3 percent) from 2016 values,” the report stated.
Other highlights reported by NASS:
Regional changes in the average value of farm real estate ranged from a 8.7 percent increase in the Pacific region to 1.8 percent decrease in the Northern Plains region.
The highest farm real estate values were in the Corn Belt at $6,260 per acre.
The Mountain region had the lowest farm real estate value at $1,130 per acre.
The U.S. cropland value remained unchanged at $4,090 per acre from the previous year.
In the Southern Plains region, the average cropland value increased 6.0 percent from the previous year. However, in the Northern Plains region, cropland values decreased by 4.4 percent.
The U.S. pasture value increased by $20 per acre (1.5 percent) from 2016 values.
The Delta region had the highest increase of 2.9 percent from 2016. The largest decrease, at 1.7 percent, was in the Corn Belt region. ❖