United States Agricultural Land Values and Cash Rents · Estimates are published at the State,...

21
United States Department of Agriculture National Agricultural Statistics Service Statistical Bulletin Number 993 Agricultural Land Values and Cash Rents Final Estimates 1999-2003 March 2004

Transcript of United States Agricultural Land Values and Cash Rents · Estimates are published at the State,...

Page 1: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

United StatesDepartment ofAgriculture

NationalAgriculturalStatisticsService

StatisticalBulletinNumber 993

Agricultural Land Valuesand Cash Rents Final Estimates 1999-2003

March 2004

Page 2: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate
Page 3: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 1 NASS, USDA

ContentsPage

Land Value Estimating Program and Historic Revision Procedures . . . . . . . . . . . . . . . . . . . . . . . . 2

Summary: Farm Real Estate Values Sustain Upward Trend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Agricultural Land Values Tables Farm Real Estate: Average Value per Acre, by Region and State, January 1, 1999-2003 . . . . . . . . . . . 4

Cropland: Average Value per Acre, by Region and State, January 1, 1999-2003 . . . . . . . . . . . . . . . . . 5 Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 1999-2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 - 7

Pasture: Average Value per Acre, by Region and State, January 1, 1999-2003 . . . . . . . . . . . . . . . . . . 8

Agricultural Land Values Maps and Charts U.S. Average Farm Real Estate Value, Dollars per Acre, 1982 to 2003 . . . . . . . . . . . . . . . . . . . . . . . . 9

Farm Real Estate Value, Dollars per Acre, by State, January 1, 2003 . . . . . . . . . . . . . . . . . . . . . . . . . 9

U.S. Average Cropland Value, Dollars per Acre, 1997 to 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Cropland Value, Dollars per Acre, by State, January 1, 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

U.S. Average Pasture Value, Dollars per Acre, 1997 to 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Pasture Value, Dollars per Acre, by State, January 1, 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Average Cropland Value, by Region, 1999 to 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Average Pasture Value, by Region, 1999 to 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Summary: Cropland Cash Rents Increase, Pasture Rents Mixed . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Agricultural Land Cash Rents Tables Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 1999-2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 - 15

Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 1999-2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Economic Regions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Statistical Bulletin Publication Schedule and other ASB Services . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Page 4: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 2 NASS, USDA

Land Value Estimating Program and Historic Revision Procedures

Estimates of agricultural real estate values are published annually using a variety of survey indicationsand check data. The agricultural census provides a benchmark for farm real estate values once every5 years. After a census benchmark is established, the annual estimates for the current census year andthe 4 previous non-census years are reevaluated and revised, if necessary.

Annual estimates are originally established using a combination of indications from NationalAgricultural Statistics Service (NASS) surveys and non-NASS check data. Within NASS, the JuneAgricultural Survey (JAS) provides dual survey indications for cropland, pasture, and farm real estatevalues. These indications include a per acre dollar value and a percent change indicator that measuresthe change in value from the previous year. The Agricultural Resource Management Survey (ARMS)provides an additional indication of the per acre dollar value of farm real estate. Check data fromsources outside of NASS are provided by the Federal Reserve, county Farm Service Agency (FSA)county offices, and State or University sponsored surveys.

Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate is defined as all land and buildings (including operator dwelling) used for agriculturalproduction. The value per acre for farm real estate applies to an average size farm, with an average setof buildings, and an average mixture of crop and pasture land. Cropland values apply to all land from which crops were harvested or hay cut; land in orchards,vineyards, nurseries, and greenhouses; idle land normally used to grow crops, such as CRP and summerfallow; and any land that could have been used for growing crops without additional improvements. Pasture values apply to permanent pasture and rangeland, but excludes grazed land that may be used togrow crops.

Page 5: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 3 NASS, USDA

Farm Real Estate Values Sustain Upward Trend

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 risenevery year since 1987, when values bottomed-out at $599 per acre following the 1980's farm financialcrisis.

Cropland and pasture values, which have been a part of the estimating program since 1997, each rose24 percent from January 1, 1998. Nationally, cropland values averaged $1,660 per acre and pasturevalues 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 thataccounts for the difference between farm real estate and its cropland and pasture components, rosesharply.

The increase in farm real estate, and its cropland and pasture components, was partially driven by lowinterest rates and poor returns for alternative assets. The certainty of government programs, especiallyfor major agricultural commodities, provided additional strength and stability for land values in manyareas. The potential for nonagricultural uses also contributed to strong increases, but effects due todevelopment potential were mostly confined to areas near growing population centers. Income from themarketing of crop and livestock commodities generally supported increasing land values. However,income variability, partly caused by extended periods of adverse weather, contributed to unevenappreciation of farm real estate values across States and regions.

From 1998 to 2003, the Lake region experienced the largest increase in farm real estate values, at57 percent. For the same period, the smallest increase in farm real estate values was a drought-limitedlow of 19 percent in the Northern Plains region. In the Appalachian and Southeast regions, where urbanand recreational influences are increasing, farm real estate values rose 38 and 34 percent, respectively. The highest farm real estate values are in the Northeast region, where urban influences drove the averagevalue to $3,200 per acre on January 1, 2003, a 40 percent increase from 1998. The Mountain region,with its expanse of pasture and rangeland, has the lowest farm real estate value, at $523 per acre.

Page 6: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 4 NASS, USDA

Farm Real Estate: Average Value per Acre, by Regionand State, January 1, 1999-2003

Region and State 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Northeast: CT DE ME MD MA NH NJ NY PA RI VTLake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 1

CO ID MT NV 1

NM 1

UT 1

WYPacific: CA OR WA

48 States 2

2,5006,5002,9001,3003,3005,8002,3007,3001,3402,6006,9001,6001,4201,8901,2401,4501,8202,2202,1701,7601,1502,190

516600675400360

1,8501,5502,2401,9502,0801,1501,8001,5002,3501,6301,6001,2001,2201,2701,120

637625640426

1,070630

1,090310420220855235

1,8802,8001,0001,200

1,030

2,6607,0503,1501,4003,6006,5002,4007,6001,4302,8007,3001,7001,5602,0901,3201,7001,8902,2602,2601,8001,2302,330

535625710405380

1,9901,6502,4502,1002,2301,2101,9201,5702,5001,7501,7001,2701,2901,3101,200

672640680448

1,150650

1,150330435230900255

2,0003,0001,0501,250

1,090

2,8307,7003,4001,5003,8007,3002,5508,1001,5203,0007,7001,8001,7002,2801,4001,9501,9502,2902,3501,8501,3002,470

556645735410405

2,1201,7502,6802,2002,3801,2702,0301,6402,6001,9001,8001,3301,3501,3801,270

715655730471

1,250675

1,200350450240975270

2,1203,2001,1001,300

1,150

3,0008,5003,7001,6004,0008,1002,8008,6001,6103,2508,3001,9001,8702,4701,5002,1502,0302,3502,4601,9201,3802,600

576665760415430

2,2501,8302,9002,3002,5301,3302,1401,7002,7202,0501,9001,3901,4101,4401,330

755680775500

1,400700

1,240370465250

1,040285

2,2403,4001,1501,390

1,210

3,2009,5004,0001,7504,1509,3003,1009,1001,7003,4509,3002,0502,0102,6801,6002,3002,1302,4302,5702,0101,4702,740

594685775425460

2,3701,9003,1002,4002,7001,4002,2701,7602,9002,2002,0501,4601,4801,5001,400

788705810523

1,500730

1,280390480260

1,100300

2,3503,6001,2001,480

1,270 1 Excludes American Indian Reservation Land. 2 Excludes Alaska and Hawaii.

Page 7: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 5 NASS, USDA

Cropland: Average Value per Acre, by Regionand State, January 1, 1999-2003

Region and State 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Northeast: DE MD NJ NY PA Oth Sts 1

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 2

CO ID MT NV 2

NM 2

UT 2

WYPacific: CA OR WA

48 States 3

2,5902,8003,2008,2001,1102,8702,8401,3401,6501,2301,3501,9802,3202,1801,9001,2202,270

664660

1,080440505

1,9501,7002,1502,0501,9801,6301,8001,3503,4601,3801,2501,0301,0701,090

930687586727960

4,100867

1,410471

1,8501,3902,540

8073,2005,3601,5001,410

1,400

2,6903,0003,5008,4001,1803,0003,2401,4501,8201,2801,6002,0402,3502,2501,9401,3002,400

680666

1,130440545

2,0701,8002,3502,1202,1501,7001,9601,4503,5501,6001,3501,0701,1001,130

985721600769990

4,400922

1,470481

1,8501,3902,620

8303,2505,4501,5501,420

1,460

2,8203,2503,7008,7001,2503,1803,5101,5601,9801,3501,8002,1002,3702,3301,9801,3802,520

700673

1,160445585

2,2101,9002,5502,2002,3501,8002,0901,5303,7201,7801,4501,1201,1401,1601,040

753619805

1,0304,800

9661,530

4931,8501,4202,790

8723,3105,5501,6001,430

1,510

3,2103,5003,9009,0001,3203,3505,2401,7202,1501,4302,0002,1802,4302,4402,0401,4802,630

720679

1,200450626

2,3402,0002,7502,2702,5501,9202,2401,6003,7301,9701,6001,1601,1801,1901,100

808643871

1,1205,600

9991,600

5031,8501,4402,880

9153,4105,7301,6501,450

1,590

3,4003,8504,0009,3001,3903,5005,9201,8602,3501,5202,2002,2702,5002,5502,1201,5802,750

737684

1,210460681

2,4902,1002,9502,3502,8002,0502,3501,7003,6902,1501,7501,2101,2201,2401,160

863668937

1,1706,0001,0501,680

5201,9001,4702,960

9573,5005,9201,6701,470

1,660 1 Includes: CT, ME, MA, NH, RI, and VT. 2 Excludes American Indian Reservation Land. 3 Excludes Alaska and Hawaii.

Page 8: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 6 NASS, USDA

Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, January 1, 1999-2003 1 2

Region, Stateand Land Type 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Corn Belt: MO All Cropland Irrigated Non-Irrigated

Northern Plains: KS All Cropland Irrigated Non-Irrigated

NE All Cropland Irrigated Non-Irrigated

SD All Cropland Irrigated Non-Irrigated

Southeast: FL All Cropland Irrigated Non-Irrigated

GA All Cropland Irrigated Non-Irrigated

Delta States: AR All Cropland Irrigated Non-Irrigated

LA All Cropland Irrigated Non-Irrigated

MS All Cropland Irrigated Non-Irrigated

Southern Plains: OK All Cropland Irrigated Non-Irrigated

TX All Cropland Irrigated Non-Irrigated

Mountain: AZ All Cropland Irrigated

CO All Cropland Irrigated Non-Irrigated

1,2201,8201,180

6601,020

625

1,0801,530

840

505790500

3,4604,1202,080

1,3801,5001,350

1,0701,180

970

1,090960

1,130

9301,070

890

586800575

727830700

4,1004,100

8671,700

420

1,3001,9301,260

6661,040

630

1,1301,580

890

545825540

3,5504,2202,150

1,6001,6001,600

1,1001,2201,000

1,130990

1,170

9851,110

950

600800590

769880740

4,4004,400

9221,800

450

1,3802,0001,340

6731,060

635

1,1601,600

930

585875580

3,7204,2802,530

1,7801,7001,800

1,1401,2601,030

1,1601,0201,200

1,0401,1501,010

619800610

805900780

4,8004,800

9661,870

480

1,4802,0701,440

6791,080

640

1,2001,630

980

626950620

3,7304,3302,460

1,9701,8002,000

1,1801,3101,070

1,1901,0501,230

1,1001,1901,080

643805635

871950850

5,6005,600

9991,910

510

1,5802,1501,540

6841,080

645

1,2101,650

980

6811,000

675

3,6904,1802,670

2,1501,9002,200

1,2201,3501,100

1,2401,0701,280

1,1601,2301,140

668820660

9371,000

920

6,0006,000

1,0502,000

540

--continued

Page 9: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 7 NASS, USDA

Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, 1999-2003 1 2 (continued)

Region, Stateand Land Type 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

ID All Cropland Irrigated Non-Irrigated

MT All Cropland Irrigated Non-Irrigated

NV All Cropland Irrigated

NM All Cropland Irrigated Non-Irrigated

UT All Cropland Irrigated Non-Irrigated

WY All Cropland Irrigated Non-Irrigated

Pacific: CA All Cropland Irrigated Non-Irrigated

OR All Cropland Irrigated Non-Irrigated

WA All Cropland Irrigated Non-Irrigated

1,4101,820

700

4711,360

345

1,8501,850

1,3902,500

255

2,5403,000

700

807975245

5,3605,7001,800

1,5002,0501,050

1,4103,300

850

1,4701,900

720

4811,410

350

1,8501,850

1,3902,500

255

2,6203,100

700

8301,000

260

5,4505,8001,850

1,5502,1001,100

1,4203,250

875

1,5301,980

740

4931,470

355

1,8501,850

1,4202,550

260

2,7903,300

725

8721,050

275

5,5505,9001,900

1,6002,1501,150

1,4303,200

900

1,6002,080

760

5031,510

360

1,8501,850

1,4402,600

265

2,8803,400

750

9151,100

295

5,7306,1001,950

1,6502,2001,200

1,4503,200

925

1,6802,200

780

5201,580

370

1,9001,900

1,4702,650

270

2,9603,500

775

9571,150

310

5,9206,3002,000

1,6702,2501,200

1,4703,200

950 1 Only States with significant irrigated acreage appear in this table. 2 See page 17 for definition of Regions.

Page 10: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 8 NASS, USDA

Pasture: Average Value per Acre, by Regionand State, January 1, 1999-2003

Region and State 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Northeast: MD NJ NY PA Oth Sts 1

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 2

CO ID MT NV 2

NM 2

UT 2

WYPacific: CA OR WA

48 States 3

1,8603,4009,000

5601,7402,630

599990425670868980

1,340680770

1,480222370220150180

1,6701,3502,2701,9501,850

9201,5201,1501,6001,9001,4301,010

9601,200

930524405550238340350700210235155400175759

1,100410540

509

1,8903,4009,200

6001,7503,000

7071,150

475825927

1,0001,400

700840

1,600230380230155190

1,7401,3802,4502,0501,900

9801,6401,2001,7502,0501,5301,0601,0201,220

990538415565247360370700225240150420190797

1,200420490

531

1,9403,4509,500

6401,7503,230

8021,300

525950990

1,0101,470

730910

1,750241390240160200

1,8201,4102,6402,1502,0001,0601,7601,2501,8502,2801,6301,1001,0701,2401,050

556425585257400390700240245150450200849

1,300430500

557

2,0903,5009,700

6801,8003,590

8891,450

5751,0501,0501,0301,560

760980

1,860249400245165210

1,9101,4402,8302,2502,1001,1201,8701,3001,9502,5001,7501,1701,1501,2701,130

571435600273450410700255250155475210901

1,400440510

577

2,1903,650

10,000720

1,8503,880

9531,600

6251,1001,1201,0601,660

8001,0501,950

258410255170220

2,0001,4603,0102,3502,2501,2002,0101,3502,1002,7501,9001,2301,2101,3101,200

590450620285470430700270255160500220952

1,500450520

605 1 Includes: CT, DE, ME, MA, NH, RI, and VT. 2 Excludes American Indian Reservation Land. 3 Excludes Alaska and Hawaii.

Page 11: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 9 NASS, USDA

Page 12: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 10 NASS, USDA

Page 13: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 11 NASS, USDA

Page 14: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 12 NASS, USDA

Page 15: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 13 NASS, USDA

Cropland Cash Rents Increase, Pasture Rents Mixed

Nationally, cash rents paid to landlords for cropland and pasture rose 10 percent and 2 percent,respectively, from 1998 to 2003. Cropland cash rents paid in 2003 advanced to $73.00 per acre,compared with $66.50 per acre in 1998. Pasture cash rents averaged $9.00 per acre in 2003, comparedwith $8.80 per acre in 1998.

Cropland cash rents increased in all regions from 1998 to 2003, but increases were uneven. The largestincrease was in the Delta region, where cropland rents rose an average of 14 percent, from $57.00 peracre in 1998 to $65.00 per acre in 2003. Other double-digit increases occurred in the Appalachianregion, at 13 percent, and the Corn Belt and Southern Plains, at 10 percent each. Cropland rentsincreased just 1 percent in the Mountain region, 5 percent in the Northeast, and 7 percent in the Lake andSoutheast regions. In 2003, the highest cropland rental rates, at $180.00 per acre, were in the Pacificregion, where a larger portion of the acreage is irrigated. Cropland rent averaged $110.00 per acre in theCorn Belt.

From 1998 to 2003, pasture cash rents fell in 4 regions and rose in 6 regions. Cash rents were 26 percentlower in the Northeast region and 15 percent lower in the Mountain region. Pasture cash rents increased16 percent in the Southeast and Southern Plains.

Page 16: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 14 NASS, USDA

Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 1999-2003 1 2

Region, Stateand Land Type 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Northeast: DE MD NJ NY PA

Lake States: MI MN WI

Corn Belt: IL IN IA MO Non-Irrigated OH

Northern Plains: KS Irrigated Non-irrigated NE Irrigated Non-Irrigated ND SD Non-Irrigated

Appalachian: KY NC TN VA WV

Southeast: AL FL Non-Irrigated GA Irrigated Non-Irrigated SC

Delta States: AR Irrigated Non-Irrigated LA Irrigated Non-Irrigated MS Irrigated Non-Irrigated

40.0056.0054.2053.1031.0041.00

69.0060.0075.6062.00

101.00111.00

99.00112.00

59.0073.70

44.5036.0066.0035.0086.90

115.0064.5035.50

38.00

48.0070.0045.0062.0035.7028.00

39.5031.00

30.0047.3090.0037.2022.00

59.2067.0078.0050.0056.9070.0049.6058.0076.0049.20

40.0056.2054.2051.0032.0040.00

72.0060.0077.9065.00

103.00119.00100.00115.00

62.0074.00

45.5036.5067.0035.5088.00

117.0066.0035.50

39.80

50.0074.0045.0060.0036.5026.00

42.0033.00

32.0050.0091.0039.1024.20

62.0069.0080.0050.0055.2070.0051.9061.0080.0052.00

42.0057.5055.5047.0033.0042.00

73.0060.0080.5066.00

106.00119.00100.00117.00

65.0076.50

47.0039.0072.0036.0088.00

117.0065.0036.00

40.00

52.0072.0048.0059.5036.5026.00

46.0036.00

32.0055.00

103.0038.0027.50

64.0067.0078.0048.0062.0074.0056.0062.0079.0054.00

41.0056.3055.5047.0035.0040.00

74.0060.0081.0067.00

108.00122.00101.00120.00

66.0077.00

47.0039.0070.0036.0090.00

121.0066.0036.50

42.00

51.0068.0049.5060.5036.0027.00

45.0036.00

32.0055.00

103.0039.0028.50

64.0069.0080.0053.0062.0073.0057.0062.0079.0054.00

42.0057.0055.5047.0037.0041.00

74.5060.0082.0068.00

110.00123.00103.00122.00

70.0078.00

48.0039.0068.0036.0092.00

123.0067.0036.50

45.00

52.0070.0051.0062.0036.5028.00

44.0035.00

32.0056.00

105.0040.0028.50

65.0071.0078.0055.0062.0068.0059.0063.0078.0056.00

--continued

Page 17: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 15 NASS, USDA

Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 1999-2003 1 2 (continued)

Region, Stateand Land Type 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Southern Plains: OK Non-Irrigated TX Irrigated Non-Irrigated

Mountain: AZ Irrigated CO Irrigated Non-Irrigated ID Irrigated Non-Irrigated MT Irrigated Non-Irrigated UT Irrigated

Pacific: CA Irrigated OR Irrigated Non-Irrigated WA Irrigated

48 States

25.00

27.0024.0049.0018.00

63.00

140.0058.0095.0018.0094.00

115.0045.0025.0054.0018.00

57.00

176.00

260.0085.00

105.0066.00

153.00

67.50

27.00

26.0027.0053.0021.00

59.00

135.0055.0090.0018.0098.00

120.0044.0023.8049.7017.30

57.00

180.00

300.0090.00

120.0067.00

160.00

70.00

27.80

27.0027.0053.0021.00

61.00

135.0065.00

100.0022.0095.00

115.0048.0024.5046.0018.00

58.00

185.00

310.0090.00

110.0070.00

165.00

71.00

27.60

27.0027.0053.0021.00

60.00

135.0065.0095.0022.5096.00

116.0050.0024.0047.0018.50

60.00

180.00

310.0095.00

115.0067.50

170.00

71.60

28.00

27.5027.3055.0021.00

60.50

135.0060.0093.0023.0097.00

116.0051.0024.0048.0018.50

61.00

180.00

300.0098.00

120.0065.00

175.00

73.00 1 Unless otherwise specified as irrigated or non-irrigated, data are for all cropland. 2 See page 17 for definition of Regions.

Page 18: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 16 NASS, USDA

Pasture Rented for Cash: Average Cash Rent per Acre,by Region and State, 1999-2003 1

Region and State 1999 2000 2001 2002 2003

Dollars Dollars Dollars Dollars Dollars

Northeast: PA

Lake States: MN WI

Corn Belt: IL IA MO

Northern Plains: KS NE ND SD

Appalachian: NC TN VA

Southeast: AL FL GA

Delta States: LA MS

Southern Plains: OK TX

Mountain: CO MT NM UT WY

Pacific: CA

48 States

27.0036.00

27.6017.0038.00

25.0031.0031.0018.50

10.8013.3010.90

9.3010.20

17.2021.0016.4015.50

16.0015.0014.0020.80

13.9015.5013.50

7.308.306.90

4.104.805.101.70

12.004.00

12.0010.00

8.90

24.0032.00

24.0018.0038.00

24.5033.0029.0020.00

11.2012.8011.30

9.5011.00

18.0021.0018.0016.00

17.2017.0015.0022.00

13.8014.0014.00

6.307.806.00

3.805.204.801.70

11.003.50

11.009.00

8.50

23.0032.00

22.0019.0036.00

26.5033.0030.0022.50

11.4012.6011.30

9.8011.00

19.0022.0018.0016.50

17.4018.0015.0023.00

15.5016.0016.00

7.508.307.20

3.804.804.501.60

13.003.50

13.0011.00

9.20

22.0028.00

23.0019.0036.00

27.0032.0030.5023.00

11.1012.6011.20

9.7010.90

18.0021.5017.0016.00

18.0018.0016.0023.00

16.2016.0017.00

7.708.507.40

3.504.004.701.60

10.003.80

13.0011.00

9.20

23.0025.00

23.5019.0036.00

27.0032.5031.0023.50

11.2012.6011.50

9.8011.00

18.0022.0017.5016.50

18.5018.0017.0023.00

16.0015.0016.00

8.008.507.80

3.403.504.501.609.003.50

12.5010.60

9.00 1 See page 17 for definition of Regions.

Page 19: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 17 NASS, USDA

Regions:

Northeast: . . . . . . . . . . . . . . . . CT, DE, ME, MD, MA, NH, NJ, NY, PA, RI, VT.Lake States: . . . . . . . . . . . . . . MI, MN, WI.Corn Belt: . . . . . . . . . . . . . . . . IL, IN, IA, MO, OH.Northern Plains: . . . . . . . . . . . KS, NE, ND, SD.Appalachian: . . . . . . . . . . . . . KY, NC, TN, VA, WV.Southeast: . . . . . . . . . . . . . . . . AL, FL, GA, SC.Delta States: . . . . . . . . . . . . . . AR, LA, MS.Southern Plains: . . . . . . . . . . . OK, TX.Mountain: . . . . . . . . . . . . . . . . AZ, CO, ID, MT, NV, NM, UT, WY.Pacific: . . . . . . . . . . . . . . . . . CA, OR, WA.

Page 20: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

Agricultural Land Values and Cash Rents - Final Estimates 1999-2003 Agricultural Statistics BoardMarch 2004 18 NASS, USDA

Statistical Bulletin Publication Schedule and other ASB Services

Statistical Bulletins: The National Agricultural Statistics Service will issue a series of twenty bulletinscontaining final estimates for agricultural data series based on the review of the 2002 Census ofAgriculture and other information. The product number, bulletin title, and tentative release dates are asfollows.

NASS-SB993 Agricultural Land Values and Cash Rents-Final Estimates 1999-2003 03/12/04NASS-SB989 Cattle - Final Estimates 1999-2003 04/30/04NASS-SB980 Chickens and Eggs - Final Estimates 1998-2002 04/29/04NASS-SB997 Citrus Fruits - Final Estimates 1997-2002 08/20/04NASS-SB999 Crop Values - Final Estimates 1997-2002 10/15/04NASS-SB991 Farms and Land in Farms - Final Estimates 1998-2002 02/27/04NASS-SB982 Field Crops - Final Estimates 1997-2002 03/17/04NASS-SB986 Hogs and Pigs - Final Estimates 1998-2002 03/22/04NASS-SB992 Honey - Final Estimates 1998-2002 04/29/04NASS-SB1002 Livestock Operations - Final Estimates 1998-2002 04/30/04NASS-SB995 Meat Animals, PDI - Final Estimates 1998-2002 05/21/04NASS-SB988 Milk Cows and Production - Final Estimates 1998-2002 04/30/04NASS-SB996 Milk Disposition and Income - Final Estimates 1998-2002 05/21/04NASS-SB985 Noncitrus Fruits and Nuts - Final Estimates 1997-2002 05/21/04NASS-SB998 Potatoes and Sweet Potatoes - Final Estimates 1997-2002 08/20/04NASS-SB994 Poultry Production and Value - Final Estimates 1998-2002 04/29/04NASS-SB984 Rice Stocks - Final Estimates 1998-03 03/17/04NASS-SB990 Sheep and Goats - Final Estimates 1999-2003 04/30/04NASS-SB983 Stocks of Grains, Oilseeds, and Hay - Final Estimates 1998-2003 03/17/04NASS-SB981 Turkeys - Final Estimates 1998-2002 04/29/04NASS-SB987 Vegetables - Final Estimates 1997-2002 05/28/04

Electronic Publications: These bulletins will be available free of charge on the Internet from theNASS Home Page at: www.usda.gov/nass/, in either text , PDF, or CSV format. From the Home Pageselect “Historic Data,” then “Statistical Bulletins.”

Printed Copies: Printed copies of the bulletins may be ordered by calling the Sales Order Desk toll freeat 1-800-999-6779. Costs for printed copies of the publications range from $15.00 to $50.00. Visa,MasterCard, check, or money order are acceptable for payment.

Agricultural Statistics Database - Quick Stats: Selected State, U.S. and County information isavailable in an online database via the Internet free of charge. The Quick Stats database allows customextracts based on commodity, year, state and other selection criteria and produces an output filecompatible for updating databases and spreadsheets. Quick Stats can be accessed from the NASS HomePage at: www.usda.gov/nass/ .

Agricultural Census Publications: The U. S. Department of Agriculture's National AgriculturalStatistics Service (NASS) released preliminary national and state data from the 2002 Census ofAgriculture and final data for Puerto Rico on February 3, 2004. Census 2002 preliminary data includedemographic items such as sex of operator, residence on or off the farm, days worked off farm, yearspresent on farm, age group categories, race, and number of persons living in each household.

Assistance: For assistance with general agricultural statistics or further information about NASS or itsproducts and services, contact the Agricultural Statistics Hotline at 1-800-727-9540, 7:30 a.m. to 4:00p.m. ET, or e-mail: [email protected]. For more information pertaining to the Agricultural LandValues and Cash Rents - Final Estimates 1999-2003 bulletin, contact Mark E. Miller or Kevin Hintzmanat (202) 720-6146.

Page 21: United States Agricultural Land Values and Cash Rents · Estimates are published at the State, Regional, and U.S. level for farm real estate, cropland, and pasture. Farm real estate

The United States Department of Agriculture (USDA) prohibits discrimination in all its programs on the basisof race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and maritalor family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who requirealternative means for communication of program information (braille, large print, audiotape, etc.) shouldcontact the USDA’s TARGET Center at 202-720-2600 (voice and TDD).

To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, Room 326-W, WhittenBuilding, 1400 Independence Avenue, SW, Washington, D.C., 20250-9410, or call 202-720-5964 (voice orTDD). USDA is an equal opportunity provider and employer.