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Farmland Values – An Appreciating Asset, but a Slowing of Growth

August 9, 2015
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Farmland values rise…Albeit at a Slowing Rate…

The value of all U.S. farm real estate, a measure of the value of all land and buildings on farms, rose 2.4% from 2014 to an average value of $3,020 per acre, according to U.S. Department of Agricultural (“USDA”). The U.S. cropland value increased 0.7%, to $4,130 per acre from the previous year. Pastureland value increased 2.3%, to $1,330 per acre. The increase in farmland value actually represents a deceleration from the 8.1% growth rate reported in 2014, the slowest pace since 2010.

In spite of the increase in farmland values, cropland grew at the slowest pace in about six years, with some regions such as the Corn Belt showing declines. The Southern Plains region experienced the sharpest increase at 6.1% while the Corn Belt region realized a decline of (0.3)%. The highest farm real estate values are in the Corn Belt region at $6,350 per acre. The lowest average farm real estate values are in the Mountain region at $1,100 per acre.

The USDA also indicated the U.S. average cash rent rose 2% to an average rate of $144 an acre. Iowa reported the second-highest average cash rent at $250 an acre. California listed the highest cash rent at $329 an acre.

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