The value of U.S. farm real estate, a measurement of the value of all land and buildings on farms, averaged $2,950/acre for 2014, up 8.1% from 2013.
Regional changes in the average value of farm real estate ranged from a 16.3% increase in the Northern Plains region to 1.1% increase in the Southeast region. The highest farm real estate values were in the Corn Belt region, at $6,370 per acre. The Mountain region had the lowest farm real estate value, at $1,070 per acre.
The value of U.S. cropland increased $290/acre (7.6%) from the previous year, to $4,100/acre. In the Northern Plains region, the average cropland value increased 13.6% from the previous year. However, in the Mountain region, cropland values decreased by 5.1%.
The value of U.S. pasture increased to $1,300 per acre (11.1%) from 2013. The Southeast region had the smallest percentage increase in pasture value, 0.5% above 2013. The Northern Plains had the highest increase, at 26.5%.
The estimates of land values in the report are based primarily on a USDA survey conducted during the first two weeks of June. This annual survey uses a complete, probability-based land-area sampling frame. A sample of approximately 11,000 segments of land is selected, each approximately one square mile in size.
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