USDA’s Farmland Price Update Report (August 2013)

By K. McDonald on August 5th, 2013 The USDA comes out with an annual farmland price report every August. The newly issued report summarizes farmland price changes since a year ago. Here are this year’s report highlights: ● The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,900 per acre for 2013, up 9.4 percent from revised 2012 values. ● Regional changes in the average value of farm real estate ranged from a 23.1 percent increase in the Northern Plains region to no change in the Southeast region. ● The highest farm real estate values were in the Cornbelt region at $6,400 per acre. ● The Mountain region had the lowest farm real estate value at $1,020 per acre. ● The United States cropland value increased by $460 per acre (13.0 percent) to $4,000 per acre. ● In the Northern Plains and Corn Belt regions, the average cropland value increased 25.0 and 16.1 percent, respectively, from the previous year. ● In the Southeast region, cropland values decreased by 2.8 percent. ● The United States pasture value increased to $1,200 per acre, or 4.3 percent above 2012. ● The Southeast region had the largest percentage decrease in pasture value, 1.5 percent below 2012. ● The Northern Plains had the highest increase in pasture value, at 18.4 percent. (Click to enlarge) Note that separate maps like the above are included in the report for cropland and pastureland values. SOURCE: Land Values 2013 Summary (PDF) Taylor Scott International