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David Sparks Ph.d Lower Land Values
by David Sparks Ph.d, click here for bio

Program: Line on Agriculture
Date: August 23, 2019

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USDA's recent 2019 Land Values report revealed the average value of agricultural cropland, including buildings on farms, at $4,100 per acre in 2019, up $50 per acre or 1.2% from the previous year. The value of cropland in 2019 ties the record-high reached in 2015 and represents a 55% increase in cropland values over the last decade. The average value of pastureland was a record-high $1,400 per acre in 2019, up $30 per acre or 2.2% from the prior year. The average value of all agricultural land was $3,160 per acre in 2019, up $60 per acre or 1.9% from 2018.

State-Level Agricultural Land Values

Across the U.S., agricultural land values were the highest in states near urban areas such as Rhode Island, Connecticut, New Jersey, Massachusetts and California. Outside of urban areas, agricultural land values were highest through the Corn Belt, the Great Lakes region, the Southeast and the Pacific Northwest. Western states, reflecting the higher percentage of pastureland, had lower average agricultural land values.

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