Land Values 2012 Summary August 2012 ISSN: 1949-1867 United States Department of Agriculture 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 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. Farm Real Estate, Average Value per Acre - Region, State, and United States: 2008-2012 -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 4,980 4,830 4,690 4,690 4,780 1.9 Connecticut ......: 12,700 12,000 11,500 11,500 11,100 -3.5 Delaware .........: 10,300 8,900 8,100 8,100 8,100 - Maine ............: 2,200 2,100 2,000 2,000 1,970 -1.5 Maryland .........: 8,000 7,500 7,200 7,200 7,200 - Massachusetts ....: 12,300 12,000 11,300 11,000 10,500 -4.5 New Hampshire ....: 4,900 4,800 4,750 4,650 4,550 -2.2 New Jersey .......: 15,300 13,800 13,100 12,700 12,200 -3.9 New York .........: 2,350 2,400 2,400 2,450 2,650 8.2 Pennsylvania .....: 5,120 5,100 5,000 5,000 5,200 4.0 Rhode Island .....: 16,800 15,300 13,600 13,000 12,000 -7.7 Vermont ..........: 2,900 2,800 2,750 2,750 2,750 - : Lake ...............: 3,410 3,300 3,340 3,650 4,180 14.5 Michigan .........: 3,900 3,750 3,650 3,850 4,250 10.4 Minnesota ........: 2,970 2,870 2,990 3,350 4,050 20.9 Wisconsin ........: 3,850 3,750 3,750 4,050 4,350 7.4 : Corn Belt ..........: 3,700 3,620 3,960 4,700 5,560 18.3 Illinois .........: 4,550 4,530 4,900 5,700 6,700 17.5 Indiana ..........: 4,100 4,020 4,300 5,300 6,200 17.0 Iowa .............: 3,950 3,850 4,500 5,700 7,000 22.8 Missouri .........: 2,300 2,200 2,350 2,550 2,900 13.7 Ohio .............: 4,020 3,880 4,000 4,400 5,000 13.6 : Northern Plains ....: 1,020 1,020 1,120 1,350 1,710 26.7 Kansas ...........: 1,020 1,030 1,100 1,300 1,550 19.2 Nebraska .........: 1,330 1,340 1,520 1,940 2,590 33.5 North Dakota .....: 770 780 850 980 1,240 26.5 South Dakota .....: 920 890 970 1,130 1,400 23.9 : Appalachian ........: 3,650 3,530 3,560 3,650 3,690 1.1 Kentucky .........: 2,850 2,850 2,880 2,900 3,050 5.2 North Carolina ...: 4,450 4,250 4,200 4,470 4,470 - Tennessee ........: 3,450 3,300 3,550 3,650 3,700 1.4 Virginia .........: 5,000 4,800 4,600 4,500 4,450 -1.1 West Virginia ....: 2,500 2,400 2,400 2,700 2,700 - -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Farm Real Estate, Average Value per Acre - Region, State, and United States: 2008-2012 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------ dollars ------------------ percent : Southeast ..........: 3,940 3,690 3,520 3,450 3,310 -4.1 Alabama ..........: 2,300 2,150 2,100 2,050 2,000 -2.4 Florida ..........: 5,640 5,150 4,800 4,700 4,600 -2.1 Georgia ..........: 4,300 4,100 3,900 3,800 3,500 -7.9 South Carolina ...: 2,950 2,900 2,900 2,900 2,900 - : Delta ..............: 2,220 2,160 2,230 2,340 2,500 6.8 Arkansas .........: 2,420 2,390 2,500 2,600 2,850 9.6 Louisiana ........: 2,050 1,970 2,050 2,200 2,400 9.1 Mississippi ......: 2,080 2,000 2,030 2,120 2,140 0.9 : Southern Plains ....: 1,470 1,470 1,580 1,660 1,730 4.2 Oklahoma .........: 1,150 1,170 1,240 1,330 1,480 11.3 Texas ............: 1,550 1,550 1,670 1,750 1,800 2.9 : Mountain ...........: 1,030 922 913 923 974 5.5 Arizona 2/ .......: 3,500 3,500 3,500 3,500 3,600 2.9 Colorado .........: 1,150 1,100 1,080 1,100 1,170 6.4 Idaho ............: 2,500 2,200 2,100 2,050 2,120 3.4 Montana ..........: 900 700 700 710 760 7.0 Nevada 2/ ........: 1,000 1,000 1,000 1,000 1,050 5.0 New Mexico 2/ ....: 500 480 480 500 560 12.0 Utah 2/ ..........: 1,850 1,800 1,810 1,800 1,800 - Wyoming ..........: 560 520 520 540 560 3.7 : Pacific ............: 3,970 4,010 4,090 4,220 4,450 5.5 California .......: 6,440 6,600 6,700 6,900 7,200 4.3 Oregon ...........: 1,900 1,800 1,900 2,000 2,100 5.0 Washington .......: 2,020 2,000 2,050 2,090 2,300 10.0 : United States 3/ ...: 2,170 2,110 2,200 2,390 2,650 10.9 -------------------------------------------------------------------------------- - Represents zero. 1/ See page 18 for definition of Regions. 2/ Excludes American Indian Reservation land. 3/ Excludes Alaska and Hawaii. Cropland, Average Value per Acre - Region, State, and United States: 2008-2012 -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 5,590 5,340 5,260 5,190 5,260 1.3 Delaware .........: 9,800 8,500 7,900 7,800 7,800 - Maryland .........: 7,800 7,300 7,000 7,000 7,000 - New Jersey .......: 15,600 14,000 13,300 12,800 12,300 -3.9 New York .........: 2,150 2,200 2,400 2,400 2,600 8.3 Pennsylvania .....: 6,000 5,700 5,650 5,550 5,650 1.8 Other States 2/ ..: 7,930 7,570 7,150 7,040 6,940 -1.4 : Lake ...............: 3,080 3,020 3,120 3,500 4,090 16.9 Michigan .........: 3,480 3,370 3,300 3,600 4,000 11.1 Minnesota ........: 2,700 2,610 2,820 3,250 4,050 24.6 Wisconsin ........: 3,600 3,650 3,650 3,950 4,230 7.1 : Corn Belt ..........: 4,030 3,910 4,240 5,070 6,010 18.5 Illinois .........: 4,850 4,670 4,900 5,800 6,800 17.2 Indiana ..........: 4,140 3,950 4,400 5,300 6,200 17.0 Iowa .............: 4,260 4,050 4,600 5,900 7,300 23.7 Missouri .........: 2,500 2,540 2,690 2,940 3,340 13.6 Ohio .............: 4,140 3,900 4,050 4,400 5,000 13.6 : Northern Plains ....: 1,280 1,300 1,450 1,810 2,360 30.4 Kansas ...........: 1,020 1,050 1,150 1,400 1,750 25.0 Nebraska .........: 2,050 2,180 2,510 3,300 4,480 35.8 North Dakota .....: 810 800 870 1,040 1,350 29.8 South Dakota .....: 1,400 1,400 1,560 1,860 2,320 24.7 : Appalachian ........: 3,730 3,600 3,590 3,590 3,750 4.5 Kentucky .........: 3,100 3,150 3,180 3,250 3,450 6.2 North Carolina ...: 3,850 3,770 3,720 3,720 4,000 7.5 Tennessee ........: 3,400 3,270 3,400 3,400 3,430 0.9 Virginia .........: 5,350 5,000 4,700 4,500 4,700 4.4 West Virginia ....: 3,800 3,500 3,400 3,500 3,500 - -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Cropland, Average Value per Acre - Region, State, and United States: 2008-2012 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Southeast ..........: 4,380 3,960 3,690 3,650 3,510 -3.8 Alabama ..........: 2,650 2,500 2,400 2,350 2,300 -2.1 Florida ..........: 6,980 6,430 6,180 6,030 5,730 -5.0 Georgia ..........: 4,540 4,050 3,510 3,530 3,360 -4.8 South Carolina ...: 2,610 2,500 2,520 2,520 2,520 - : Delta ..............: 1,800 1,810 1,920 2,050 2,220 8.3 Arkansas .........: 1,770 1,860 1,990 2,120 2,370 11.8 Louisiana ........: 1,830 1,740 1,800 1,970 2,120 7.6 Mississippi ......: 1,810 1,810 1,900 2,020 2,070 2.5 : Southern Plains ....: 1,390 1,380 1,430 1,520 1,610 5.9 Oklahoma .........: 1,110 1,130 1,160 1,190 1,390 16.8 Texas ............: 1,500 1,480 1,540 1,650 1,690 2.4 : Mountain ...........: 1,670 1,610 1,530 1,550 1,630 5.2 Arizona 3/ .......: 11,500 10,000 8,000 8,000 8,500 6.3 Colorado .........: 1,310 1,300 1,290 1,340 1,450 8.2 Idaho ............: 2,800 2,610 2,470 2,460 2,560 4.1 Montana ..........: 811 787 779 807 853 5.7 Nevada 3/ ........: 2,740 2,700 4/ 4/ 4/ (X) New Mexico 3/ ....: 1,630 1,810 1,820 1,840 1,830 -0.5 Utah 3/ ..........: 2,700 2,810 2,720 2,690 2,690 - Wyoming ..........: 1,180 1,177 1,197 1,267 1,290 1.8 : Pacific ............: 5,570 5,210 5,080 5,240 5,540 5.7 California .......: 9,880 9,480 9,130 9,450 9,810 3.8 Oregon ...........: 2,380 2,340 2,290 2,290 2,510 9.6 Washington .......: 1,830 1,790 1,890 1,960 2,230 13.8 : United States 5/ ...: 2,760 2,670 2,770 3,100 3,550 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. Irrigated and Non-Irrigated Cropland, Average Value per Acre - State: 2008-2012 [Only States with significant irrigated acreage appear in this table] ---------------------------------------------------------------------------------------- Region, State, : : : : : : Change and land type 1/ : 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 ---------------------------------------------------------------------------------------- : ------------------ dollars ------------------ percent : Corn Belt : Missouri all cropland ....: 2,500 2,540 2,690 2,940 3,340 13.6 Irrigated .............: 2,980 3,050 3,250 3,500 3,900 11.4 Non-irrigated .........: 2,470 2,500 2,650 2,900 3,300 13.8 : Northern Plains : Kansas all cropland ......: 1,020 1,050 1,150 1,400 1,750 25.0 Irrigated .............: 1,450 1,500 1,600 1,900 2,200 15.8 Non-irrigated .........: 980 1,000 1,100 1,350 1,700 25.9 : Nebraska all cropland ....: 2,050 2,180 2,510 3,300 4,480 35.8 Irrigated .............: 2,650 2,700 3,150 4,300 6,000 39.5 Non-irrigated .........: 1,750 1,850 2,100 2,650 3,500 32.1 : South Dakota all cropland : 1,400 1,400 1,560 1,860 2,320 24.7 Irrigated .............: 1,830 1,850 2/ 2/ 2/ (X) Non-irrigated .........: 1,390 1,390 1,550 1,850 2,300 24.3 : Southeast : Florida all cropland .....: 6,980 6,430 6,180 6,030 5,730 -5.0 Irrigated .............: 7,790 7,000 6,700 6,500 6,400 -1.5 Non-irrigated .........: 6,300 5,900 5,700 5,600 5,100 -8.9 : Georgia all cropland .....: 4,540 4,050 3,510 3,530 3,360 -4.8 Irrigated .............: 3,600 3,500 3,200 3,300 3,200 -3.0 Non-irrigated .........: 4,750 4,200 3,600 3,600 3,400 -5.6 : Delta : Arkansas all cropland ....: 1,770 1,860 1,990 2,120 2,370 11.8 Irrigated .............: 1,920 2,100 2,250 2,450 2,750 12.2 Non-irrigated .........: 1,650 1,600 1,700 1,750 1,950 11.4 : Louisiana all cropland ...: 1,830 1,740 1,800 1,970 2,120 7.6 Irrigated .............: 1,560 1,500 1,700 1,850 2,000 8.1 Non-irrigated .........: 1,890 1,800 1,830 2,000 2,150 7.5 : Mississippi all cropland .: 1,810 1,810 1,900 2,020 2,070 2.5 Irrigated .............: 1,980 1,830 1,970 2,250 2,320 3.1 Non-irrigated .........: 1,770 1,800 1,880 1,950 1,990 2.1 : Southern Plains : Oklahoma all cropland ....: 1,110 1,130 1,160 1,190 1,390 16.8 Irrigated .............: 1,400 2/ 2/ 2/ 2/ (X) Non-irrigated .........: 1,100 1,120 1,150 1,180 1,370 16.1 : Texas all cropland .......: 1,500 1,480 1,540 1,650 1,690 2.4 Irrigated .............: 1,680 1,700 1,700 1,750 1,770 1.1 Non-irrigated .........: 1,480 1,450 1,510 1,630 1,680 3.1 ---------------------------------------------------------------------------------------- See footnote(s) at end of table. --continued 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, : : : : : : Change and land type 1/ : 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------------- : ----------------- dollars ---------------- percent : Mountain : Arizona all cropland 3/ .....: 11,500 10,000 8,000 8,000 8,500 6.3 Irrigated ................: 11,500 10,000 8,000 8,000 8,500 6.3 : Colorado all cropland .......: 1,310 1,300 1,290 1,340 1,450 8.2 Irrigated ................: 3,100 3,150 3,100 3,160 3,400 7.6 Non-irrigated ............: 890 840 840 880 960 9.1 : Idaho all cropland ..........: 2,800 2,610 2,470 2,460 2,560 4.1 Irrigated ................: 4,500 4,000 3,800 3,800 4,000 5.3 Non-irrigated ............: 1,360 1,300 1,220 1,200 1,200 - : Montana all cropland ........: 811 787 779 807 853 5.7 Irrigated ................: 3,300 2,800 2,700 2,700 2,700 - Non-irrigated ............: 580 600 600 630 680 7.9 : Nevada all cropland 3/ ......: 2,740 2,700 2/ 2/ 2/ (X) Irrigated ................: 2,740 2,700 2/ 2/ 2/ (X) : New Mexico all cropland 3/ ..: 1,630 1,810 1,820 1,840 1,830 -0.5 Irrigated ................: 5,360 5,490 5,500 5,500 5,400 -1.8 Non-irrigated ............: 410 400 400 430 460 7.0 : Utah all cropland 3/ ........: 2,700 2,810 2,720 2,690 2,690 - Irrigated ................: 5,260 5,200 5,050 5,000 5,000 - Non-irrigated ............: 1,150 1,080 1,040 1,030 1,030 - : Wyoming all cropland ........: 1,180 1,177 1,197 1,267 1,290 1.8 Irrigated ................: 2,090 1,900 1,950 2,050 2,050 - Non-irrigated ............: 750 700 700 2/ 2/ (X) : Pacific : California all cropland .....: 9,880 9,480 9,130 9,450 9,810 3.8 Irrigated ................: 12,300 11,600 11,100 11,500 12,000 4.3 Non-irrigated ............: 3,570 3,400 3,500 3,600 3,550 -1.4 : Oregon all cropland .........: 2,380 2,340 2,290 2,290 2,510 9.6 Irrigated ................: 3,740 3,680 3,650 3,650 4,200 15.1 Non-irrigated ............: 1,900 1,850 1,800 1,800 1,900 5.6 : Washington all cropland .....: 1,830 1,790 1,890 1,960 2,230 13.8 Irrigated ................: 4,200 4,200 4,700 5,200 6,300 21.2 Non-irrigated ............: 1,210 1,150 1,150 1,100 1,150 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. Pasture Average Value per Acre - Region, State, and United States: 2008-2012 -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 3,480 3,270 3,170 3,210 3,230 0.6 New Jersey .......: 16,500 14,900 14,200 13,900 13,500 -2.9 New York .........: 1,100 1,050 1,100 1,200 1,250 4.2 Pennsylvania .....: 3,100 2,600 2,500 2,600 2,600 - Other States 2/ ..: 6,370 6,060 5,820 5,750 5,780 0.5 : Lake ...............: 1,840 1,790 1,780 1,800 1,870 3.9 Michigan .........: 2,630 2,550 2,400 2,500 2,500 - Minnesota ........: 1,480 1,400 1,400 1,400 1,500 7.1 Wisconsin ........: 2,130 2,050 2,050 2,090 2,130 1.9 : Corn Belt ..........: 2,090 1,950 1,970 2,100 2,280 8.6 Illinois .........: 2,550 2,400 2,600 2,800 3,100 10.7 Indiana ..........: 2,510 2,430 2,410 2,500 2,600 4.0 Iowa .............: 2,070 1,880 2,100 2,650 3,000 13.2 Missouri .........: 1,800 1,700 1,660 1,700 1,820 7.1 Ohio .............: 3,200 3,050 3,000 3,000 3,200 6.7 : Northern Plains ....: 516 496 519 556 678 21.9 Kansas ...........: 750 750 790 810 950 17.3 Nebraska .........: 480 450 475 530 660 24.5 North Dakota .....: 350 350 370 410 490 19.5 South Dakota .....: 470 430 440 470 590 25.5 : Appalachian ........: 3,620 3,400 3,320 3,300 3,250 -1.5 Kentucky .........: 2,570 2,420 2,440 2,420 2,450 1.2 North Carolina ...: 4,870 4,600 4,500 4,730 4,400 -7.0 Tennessee ........: 3,880 3,650 3,600 3,600 3,580 -0.6 Virginia .........: 4,830 4,800 4,500 4,200 4,100 -2.4 West Virginia ....: 1,950 1,900 1,900 2,100 2,100 - -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Pasture, Average Value per Acre - Region, State, and United States: 2008-2012 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State 1/: 2008 : 2009 : 2010 : 2011 : 2012 :2011-2012 -------------------------------------------------------------------------------- : ------------------ dollars ------------------ percent : Southeast ..........: 5,040 4,270 4,030 3,690 3,430 -7.0 Alabama ..........: 1,800 1,700 1,650 1,600 1,550 -3.1 Florida ..........: 5,930 5,300 5,050 4,500 4,300 -4.4 Georgia ..........: 7,450 6,000 5,400 5,000 4,200 -16.0 South Carolina ...: 3,000 2,900 2,900 2,900 2,850 -1.7 : Delta ..............: 2,160 2,130 2,140 2,170 2,190 0.9 Arkansas .........: 2,200 2,200 2,300 2,300 2,300 - Louisiana ........: 2,060 2,100 2,100 2,200 2,300 4.5 Mississippi ......: 2,200 2,050 1,930 1,930 1,930 - : Southern Plains ....: 1,340 1,300 1,340 1,420 1,490 4.9 Oklahoma .........: 1,000 1,010 1,020 1,040 1,150 10.6 Texas ............: 1,400 1,360 1,410 1,500 1,560 4.0 : Mountain ...........: 617 517 518 525 551 5.0 Arizona 3/ .......: 950 900 950 4/ 4/ (X) Colorado .........: 710 670 650 640 640 - Idaho ............: 1,610 1,280 1,250 1,220 1,210 -0.8 Montana ..........: 760 530 530 530 570 7.5 Nevada 3/ ........: 650 620 4/ 4/ 4/ (X) New Mexico 3/ ....: 310 280 290 310 350 12.9 Utah 3/ ..........: 940 870 920 920 920 - Wyoming ..........: 480 410 410 430 450 4.7 : Pacific ............: 1,900 1,730 1,700 1,680 1,660 -1.2 California .......: 3,020 2,900 2,850 2,800 2,800 - Oregon ...........: 740 700 670 670 620 -7.5 Washington .......: 770 820 820 820 810 -1.2 : United States 5/ ...: 1,090 1,070 1,080 1,100 1,150 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. 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] -------------------------------------------------------------------------------- : Total value of land and buildings :----------------------------------------------------------- : : : : : : Change Region and State : 2007 : 2008 : 2009 : 2010 : 2011 :2010-2011 -------------------------------------------------------------------------------- : --------------- million dollars --------------- percent : Northeast ..........: Connecticut ......: 5,207 5,080 4,800 4,600 4,600 - Delaware .........: 5,457 5,150 4,361 3,969 3,969 - Maine ............: 3,011 2,970 2,835 2,700 2,700 - Maryland .........: 17,510 16,400 15,375 14,760 14,760 - Massachusetts ....: 6,188 6,396 6,240 5,876 5,720 -2.7 New Hampshire ....: 2,256 2,303 2,256 2,233 2,186 -2.1 New Jersey .......: 11,461 11,169 10,074 9,563 9,271 -3.1 New York .........: 15,696 16,685 17,040 16,800 17,150 2.1 Pennsylvania .....: 38,766 39,680 39,525 38,500 38,250 -0.6 Rhode Island .....: 1,148 1,176 1,071 952 910 -4.4 Vermont ..........: 3,370 3,538 3,416 3,355 3,355 - : Lake States ........: Michigan .........: 37,600 39,000 37,500 36,500 38,500 5.5 Minnesota ........: 72,630 79,893 77,203 80,431 89,948 11.8 Wisconsin ........: 55,328 58,520 57,000 56,625 60,750 7.3 : Corn Belt ..........: Illinois .........: 107,736 121,485 120,951 130,830 151,620 15.9 Indiana ..........: 53,872 60,680 59,496 63,640 77,910 22.4 Iowa .............: 103,796 121,660 118,580 138,600 174,990 26.3 Missouri .........: 62,930 66,930 64,020 68,150 73,695 8.1 Ohio .............: 51,800 55,878 53,544 54,800 59,840 9.2 : Northern Plains ....: Kansas ...........: 45,374 47,124 47,586 50,710 59,800 17.9 Nebraska .........: 51,984 60,648 61,104 69,312 88,270 27.4 North Dakota .....: 25,740 30,492 30,888 33,660 38,808 15.3 South Dakota .....: 33,649 40,204 38,893 42,389 49,325 16.4 : Appalachian ........: Kentucky .........: 38,360 39,900 39,900 40,320 40,600 0.7 North Carolina ...: 37,238 38,270 36,550 36,120 37,995 5.2 Tennessee ........: 35,750 37,605 35,970 38,518 39,420 2.3 Virginia .........: 39,690 40,000 38,400 36,800 35,775 -2.8 West Virginia ....: 8,510 9,250 8,880 8,760 9,855 12.5 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued 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] -------------------------------------------------------------------------------- : Total value of land and buildings :----------------------------------------------------------- : : : : : : Change Region and State : 2007 : 2008 : 2009 : 2010 : 2011 :2010-2011 -------------------------------------------------------------------------------- :---------------- million dollars ---------------- percent : Southeast ..........: Alabama ..........: 19,800 20,585 19,350 18,900 18,348 -2.9 Florida ..........: 51,150 52,170 47,638 44,400 43,475 -2.1 Georgia ..........: 44,805 44,720 42,230 40,170 39,140 -2.6 South Carolina ...: 13,818 14,455 14,210 14,210 14,210 - : Delta States .......: Arkansas .........: 31,136 33,154 32,504 34,000 35,100 3.2 Louisiana ........: 15,795 16,503 15,859 16,400 17,490 6.6 Mississippi ......: 21,670 22,880 22,100 22,635 23,638 4.4 : Southern Plains ....: Oklahoma .........: 37,908 40,365 41,067 43,276 46,151 6.6 Texas ............: 179,952 202,120 202,120 217,434 227,500 4.6 : Mountain ...........: Arizona 1/ .......: 16,926 18,156 18,156 18,156 18,156 - Colorado .........: 35,482 35,995 34,430 33,804 34,430 1.9 Idaho ............: 28,520 28,500 25,080 23,940 23,370 -2.4 Montana ..........: 50,547 54,720 42,560 42,420 42,955 1.3 Nevada 1/ ........: 4,777 4,871 4,871 4,871 4,821 -1.0 New Mexico 1/ ....: 18,505 19,829 19,169 19,265 20,029 4.0 Utah 1/ ..........: 12,479 13,291 12,953 13,021 12,953 -0.5 Wyoming ..........: 14,798 16,856 15,704 15,704 16,308 3.8 : Pacific ............: California .......: 151,384 163,576 167,640 170,180 175,260 3.0 Oregon ...........: 28,208 31,160 29,520 31,065 32,600 4.9 Washington .......: 27,565 29,896 29,600 30,340 30,932 2.0 : United States 2/ ...:1,777,282 1,921,888 1,870,219 1,943,664 2,106,838 8.4 -------------------------------------------------------------------------------- - Represents zero. 1/ Value of all land and buildings adjusted to include American Indian Reservation land value. 2/ Excludes Alaska and Hawaii. 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. 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 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. 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 nass@nass.usda.gov. 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). 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. 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