Agricultural Land Values and Cash Rents: Final Estimates 1999-2003

摘要

Nationally, farm real estate values, a measure of the value of all land and buildings on farms, averaged ;1,270 per acre as of January 1, 2003. This was 30 percent above the January 1, 1998 estimate of ;974 per acre established by the 1997 census. The National average farm real estate value has risen every year since 1987, when values bottomed-out at ;599 per acre following the 1980's farm financial crisis. Cropland and pasture values, which have been a part of the estimating program since 1997, each rose 24 percent from January 1, 1998. Nationally, cropland values averaged ;1,660 per acre and pasture values averaged ;605 per acre on January 1, 2003, compared with ;1,340 and ;489 per acre, respectively, in 1998. The value of other land and buildings, an unpublished residual component that accounts for the difference between farm real estate and its cropland and pasture components, rose sharply.