Land Values report due to be released this week; trend shows continued increase in value for Midwestern farmlands

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Jason Johnson, USDA NRCS Iowa /www.nrcs.usda.gov

Corn begins to pop up through soybean stubble on this Iowa farm. Reside left from the prior year's crop helps build organic matter in the soil, which helps build overall soil health.

The United States Department of Agriculture is set to release the 2013 report of agricultural land values on August 2.

If trends continue as they have been for the past 10 years, then the value of agricultural land – especially in the Midwest region – will see a continuing increase.

The last published report released August, 2012, shows a marked increase in cropland values for the Corn Belt region ($5,560) nearly twice the national average ($2,650). The U.S.D.A defines the Corn Belt region as Iowa, Missouri, Illinois, Indiana and Ohio.

Meanwhile, agricultural land value in the Southeast region showed a slight decrease in value (7 percent), pasture values increased (4.5 percent) and Northern Plains showed the largest increased (21.9 percent). States in the Southeast region include Alabama, Georgia, Florida and South Carolina. And states in the Northern Plains region include North Dakota, South Dakota, Kansas and Nebraska.

From 2011 to 2012, the following states in the Midwest cropland increased in average value:

  • Illinois: $6,800 (+17.2%)
  • Indiana: $6,200 (+17.0%)
  • Iowa: $7,300 (+23.7%)
  • Kansas: $1,750 (+25.0%)
  • Michigan: $4,230 (+11.1%)
  • Minnesota: $4,050 (+24.6%)
  • Missouri: $3,340 (+13.6%)
  • Nebraska: $4,480 (+35.8%)
  • Wisconsin: $4,230 (+7.1%)

From 2008 to 2012, the following regions’ cropland increased in average value:

  • Northeast: -$330 (-5.90%)
  • Lake: $1,010 (+32.79%)
  • Corn Belt: $1,860 (+50.27%)
  • Northern Plains: $1,080 (+84.38%)
  • Appalachian: $20 (+0.54%)
  • Southeast: -$870 (-19.86%)
  • Delta: $420 (+23.33%)
  • Southern Plains: $220 (+15.83%)
  • Mountain: -$40 (-2.40%)
  • Pacific: -$30 (-0.54%)
  • United States: $790 (+28.62%)

Source:

Related Resources:

Title Land Values, 2012 Summary
Description Annual report regarding the current valuations of farm, crop and pasture lands according to state, region and national levels. Prepared by the National Agricultural Statistics Service for the United States Department of Agriculture.
Date 2012-08
Creator United States Department of Agriculture
Contributor National Agricultural Statistics Service
Identifier http://usda01.library.cornell.edu/usda/current/AgriLandVa/AgriLandVa-08-03-2012.pdf
Subject Appalachian, Corn Belt, Cropland, Delta, Farm, Land Values, Lake,  Mountain, NASS, Northeast, Northern Plains, Pacific, Real Estate, Southeast, Southern Plains, Statistics, USDA
Coverage Farm real estate and cropland valuations in in the Northeast, Lake, Corn Belt, Northern Plains, Appalachian, Southeast, Delta, Southern Plains, Mountain and Pacific regions of the United States.
Publisher United States Department of Agriculture
Relation http://www.nass.usda.gov/
Source ISSN: 1949-1867
Type Text
Format PDF
Language English
Rights Publicly available information

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