United States Department of Agriculture National Agricultural Statistics Service ISSN: 1949- 1867 Land Values 2024 Summary August 2024 Contents Agricultural Land Values Highlights....................................................... 4 Average Farm Real Estate Value - United States: 2010-2024 Chart........................... 5 2024 Farm Real Estate Value by State - Dollars per Acre and Percent Change from 2023 Map.. 5 Average Cropland Value - United States: 2010-2024 Chart................................... 6 2024 Cropland Value by State - Dollars per Acre and Percent Change from 2023 Map.......... 6 Average Pasture Value - United States: 2010-2024 Chart.................................... 7 2024 Pasture Value by State - Dollars per Acre and Percent Change from 2023 Map........... 7 Farm Real Estate Average Value per Acre - Regions, States, and United States: 2020-2024... 8 Cropland Average Value per Acre - Regions, States, and United States: 2020-2024........... 10 Irrigated and Non-Irrigated Cropland Average Value per Acre - States: 2020-2024........... 12 Pasture Average Value per Acre - Regions, States, and United States: 2020-2024............ 14 Value of Farmland and Buildings - States and United States: 2019-2023..................... 16 Economic Regions ......................................................................... 18 Statistical Methodology................................................................... 19 Terms and Definitions..................................................................... 20 Information Contacts...................................................................... 21 Agricultural Land Values Highlights The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,170 per acre for 2024, up $200 per acre (5.0 percent) from 2023. The United States cropland value averaged $5,570 per acre, an increase of $250 per acre (4.7 percent) from the previous year. The United States pasture value averaged $1,830 per acre, an increase of $90 per acre (5.2 percent) from 2023. Farm Real Estate Average Value per Acre - Regions, States, and United States: 2020-2024 -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 5,750 6,050 6,580 6,890 7,070 2.6 Connecticut ......: 11,900 12,400 13,500 13,900 14,300 2.9 Delaware .........: 8,850 9,140 9,570 9,520 (D) (X) Maine ............: 2,590 2,750 3,090 3,170 3,260 2.8 Maryland .........: 7,930 8,430 9,350 9,260 9,470 2.3 Massachusetts ....: 10,900 12,900 14,000 13,800 14,300 3.6 New Hampshire ....: 5,190 5,350 5,770 5,940 6,250 5.2 New Jersey .......: 13,100 13,500 14,200 16,000 16,200 1.3 New York .........: 3,270 3,460 3,720 3,960 4,150 4.8 Pennsylvania .....: 6,740 7,020 7,660 8,020 8,160 1.7 Rhode Island .....: 16,600 17,400 18,900 20,100 22,000 9.5 Vermont ..........: 3,400 3,660 3,860 4,140 4,350 5.1 : Lake States ........: 4,750 5,050 5,680 6,070 6,330 4.3 Michigan .........: 4,780 5,040 5,470 5,880 6,310 7.3 Minnesota ........: 4,690 5,000 5,780 6,110 6,450 5.6 Wisconsin ........: 4,820 5,150 5,640 6,120 6,120 - : Corn Belt ..........: 5,970 6,360 7,220 7,650 7,930 3.7 Illinois .........: 7,110 7,440 8,220 8,420 8,700 3.3 Indiana ..........: 6,350 6,700 7,400 8,260 8,510 3.0 Iowa .............: 6,870 7,420 8,880 9,250 9,420 1.8 Missouri .........: 3,430 3,760 4,230 4,610 4,800 4.1 Ohio .............: 6,430 6,720 7,380 8,040 8,760 9.0 : Northern Plains ....: 2,030 2,180 2,570 2,860 3,050 6.6 Kansas ...........: 1,820 1,970 2,420 2,750 2,970 8.0 Nebraska .........: 2,670 2,910 3,450 3,820 4,080 6.8 North Dakota .....: 1,660 1,730 1,920 2,140 2,260 5.6 South Dakota .....: 1,930 2,060 2,390 2,630 2,780 5.7 : Appalachian ........: 4,150 4,270 4,600 4,900 5,320 8.6 Kentucky .........: 4,000 4,120 4,520 4,930 5,300 7.5 North Carolina ...: 4,650 4,750 4,860 4,850 5,190 7.0 Tennessee ........: 4,120 4,290 4,740 5,160 5,710 10.7 Virginia .........: 4,550 4,600 4,950 5,300 5,850 10.4 West Virginia ....: 2,730 2,820 3,080 3,300 3,420 3.6 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Farm Real Estate Average Value per Acre - Regions, States, and United States: 2020-2024 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Southeast ..........: 4,180 4,340 4,720 5,020 5,490 9.4 Alabama ..........: 3,210 3,290 3,520 3,660 4,000 9.3 Florida ..........: 6,040 6,240 6,920 7,320 8,300 13.4 Georgia ..........: 3,470 3,630 3,900 4,270 4,500 5.4 South Carolina ...: 3,620 3,790 4,070 4,360 4,500 3.2 : Delta States .......: 3,230 3,320 3,540 3,660 3,810 4.1 Arkansas .........: 3,470 3,570 3,800 3,920 4,110 4.8 Louisiana ........: 3,200 3,270 3,490 3,600 3,720 3.3 Mississippi ......: 2,930 3,030 3,240 3,370 3,490 3.6 : Southern Plains ....: 2,020 2,160 2,360 2,530 2,720 7.5 Oklahoma .........: 1,810 1,900 2,070 2,210 2,400 8.6 Texas ............: 2,080 2,230 2,440 2,610 2,800 7.3 : Mountain ...........: 1,270 1,330 1,470 1,550 1,600 3.2 Arizona 1/ .......: 3,690 3,660 3,860 3,780 4,000 5.8 Colorado .........: 1,650 1,700 1,910 2,150 2,200 2.3 Idaho ............: 3,230 3,550 3,990 4,190 4,390 4.8 Montana ..........: 951 985 1,110 1,180 1,200 1.7 Nevada 1/ ........: 1,020 1,050 1,110 1,120 1,150 2.7 New Mexico 1/ ....: 597 635 658 671 700 4.3 Utah 1/ ..........: 2,480 2,680 2,890 3,040 3,300 8.6 Wyoming ..........: 779 836 917 968 975 0.7 : Pacific ............: 6,080 6,710 7,440 7,850 8,040 2.4 California .......: 10,200 11,300 12,600 13,100 13,400 2.3 Oregon ...........: 2,630 2,950 3,280 3,500 3,720 6.3 Washington .......: 2,900 3,070 3,350 3,510 3,620 3.1 : United States 2/ ...: 3,130 3,330 3,720 3,970 4,170 5.0 -------------------------------------------------------------------------------- - Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1/ Excludes American Indian Reservation land. 2/ Excludes Alaska and Hawaii. Cropland Average Value per Acre - Regions, States, and United States: 2020-2024 -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 6,110 6,540 7,160 7,530 7,690 2.1 Delaware .........: 8,500 8,450 8,980 9,230 (D) (X) Maryland .........: 7,240 7,740 8,430 8,540 8,770 2.7 New Jersey .......: 13,300 13,900 14,700 16,400 16,300 -0.6 New York .........: 2,910 3,080 3,400 3,630 3,850 6.1 Pennsylvania .....: 7,250 7,850 8,650 9,080 9,270 2.1 Other States 1/ ..: 7,790 8,570 9,290 9,510 9,600 0.9 : Lake States ........: 4,610 4,970 5,680 6,210 6,470 4.2 Michigan .........: 4,330 4,470 4,960 5,420 5,870 8.3 Minnesota ........: 4,650 5,030 5,830 6,310 6,540 3.6 Wisconsin ........: 4,740 5,240 5,940 6,620 6,800 2.7 : Corn Belt ..........: 6,270 6,730 7,660 8,190 8,560 4.5 Illinois .........: 7,300 7,800 8,700 9,250 9,550 3.2 Indiana ..........: 5,970 6,420 7,170 7,620 7,870 3.3 Iowa .............: 6,970 7,490 8,830 9,410 9,800 4.1 Missouri .........: 3,560 3,870 4,400 4,720 4,910 4.0 Ohio .............: 6,540 6,920 7,740 8,450 9,270 9.7 : Northern Plains ....: 2,630 2,890 3,400 3,790 4,040 6.6 Kansas ...........: 1,990 2,230 2,710 3,080 3,300 7.1 Nebraska .........: 4,170 4,660 5,520 6,150 6,540 6.3 North Dakota .....: 1,860 1,960 2,200 2,450 2,600 6.1 South Dakota .....: 2,910 3,190 3,710 4,100 4,350 6.1 : Appalachian ........: 4,260 4,380 4,840 5,220 5,660 8.4 Kentucky .........: 4,490 4,650 5,200 5,720 6,220 8.7 North Carolina ...: 4,160 4,260 4,650 4,800 5,120 6.7 Tennessee ........: 4,010 4,160 4,590 5,060 5,610 10.9 Virginia .........: 4,610 4,690 5,100 5,490 5,930 8.0 West Virginia ....: 3,310 3,390 3,700 3,920 4,050 3.3 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Cropland Average Value per Acre - Regions, States, and United States: 2020-2024 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Southeast ..........: 4,240 4,390 4,830 5,260 5,640 7.2 Alabama ..........: 3,570 3,650 4,040 4,160 4,440 6.7 Florida ..........: 7,360 7,570 8,340 9,290 10,170 9.5 Georgia ..........: 3,290 3,450 3,760 4,120 4,330 5.1 South Carolina ...: 2,930 3,050 3,370 3,600 3,800 5.6 : Delta States .......: 3,050 3,140 3,390 3,510 3,650 4.0 Arkansas .........: 2,980 3,080 3,330 3,460 3,600 4.0 Louisiana ........: 2,970 3,030 3,250 3,330 3,480 4.5 Mississippi ......: 3,220 3,340 3,610 3,760 3,880 3.2 : Southern Plains ....: 1,860 1,960 2,240 2,390 2,500 4.6 Oklahoma .........: 1,620 1,710 1,940 2,130 2,310 8.5 Texas ............: 1,960 2,060 2,360 2,490 2,570 3.2 : Mountain ...........: 2,080 2,210 2,480 2,610 2,700 3.4 Arizona 2/ .......: 7,600 7,600 7,900 8,000 (D) (X) Colorado .........: 2,280 2,370 2,670 2,870 2,810 -2.1 Idaho ............: 4,220 4,720 5,330 5,650 5,820 3.0 Montana ..........: 1,070 1,110 1,250 1,290 1,280 -0.8 Nevada 2/ ........: (D) (D) (D) (D) (D) (X) New Mexico 2/ ....: 1,660 1,760 1,930 1,990 2,000 0.5 Utah 2/ ..........: 4,100 4,290 4,680 4,870 5,040 3.5 Wyoming ..........: 1,600 1,700 1,850 1,940 1,960 1.0 : Pacific ............: 7,430 8,090 9,060 9,540 9,520 -0.2 California .......: 13,160 14,370 16,170 16,820 17,330 3.0 Oregon ...........: 3,240 3,500 3,940 4,090 4,350 6.4 Washington .......: 2,710 2,860 3,180 3,300 3,410 3.3 : United States 3/ ...: 4,060 4,350 4,940 5,320 5,570 4.7 -------------------------------------------------------------------------------- (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1/ Includes: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. 2/ Excludes American Indian Reservation land. 3/ Excludes Alaska and Hawaii. Irrigated and Non-Irrigated Cropland Average Value per Acre - States: 2020-2024 [Only states with significant irrigated acreage appear in this table] ----------------------------------------------------------------------------------------- Region, State, : : : : : : Change and Land type : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 ----------------------------------------------------------------------------------------- : ------------------ dollars ------------------ percent : Corn Belt : Missouri, all cropland ....: 3,560 3,870 4,400 4,720 4,910 4.0 Irrigated ..............: 4,740 4,880 5,500 5,740 6,000 4.5 Non-irrigated ..........: 3,430 3,760 4,280 4,610 4,800 4.1 : Northern Plains : Kansas, all cropland ......: 1,990 2,230 2,710 3,080 3,300 7.1 Irrigated ..............: 3,130 3,470 3,680 4,220 4,460 5.7 Non-irrigated ..........: 1,890 2,110 2,620 2,980 3,200 7.4 : Nebraska, all cropland ....: 4,170 4,660 5,520 6,150 6,540 6.3 Irrigated ..............: 5,570 6,130 7,310 8,020 8,550 6.6 Non-irrigated ..........: 3,310 3,750 4,420 5,000 5,350 7.0 : South Dakota, all cropland : 2,910 3,190 3,710 4,100 4,350 6.1 Irrigated ..............: (D) (D) (D) (D) (D) (X) Non-irrigated ..........: 2,880 3,160 3,680 4,070 4,330 6.4 : Southeast : Florida, all cropland .....: 7,360 7,570 8,340 9,290 10,170 9.5 Irrigated ..............: 8,340 8,660 9,540 10,600 11,800 11.3 Non-irrigated ..........: 6,450 6,550 7,230 8,060 8,800 9.2 : Georgia, all cropland .....: 3,290 3,450 3,760 4,120 4,330 5.1 Irrigated ..............: 4,060 4,300 4,530 4,710 5,000 6.2 Non-irrigated ..........: 2,970 3,100 3,450 3,880 4,070 4.9 : Delta States : Arkansas, all cropland ....: 2,980 3,080 3,330 3,460 3,600 4.0 Irrigated ..............: 3,480 3,600 3,850 4,010 4,200 4.7 Non-irrigated ..........: 2,180 2,240 2,480 2,570 2,710 5.4 : Louisiana, all cropland ...: 2,970 3,030 3,250 3,330 3,480 4.5 Irrigated ..............: 2,880 2,920 3,160 3,290 3,390 3.0 Non-irrigated ..........: 3,000 3,070 3,290 3,350 3,520 5.1 : Mississippi, all cropland .: 3,220 3,340 3,610 3,760 3,880 3.2 Irrigated ..............: 3,790 3,920 4,210 4,420 4,580 3.6 Non-irrigated ..........: 2,890 3,000 3,260 3,380 3,470 2.7 : Southern Plains : Oklahoma, all cropland ....: 1,620 1,710 1,940 2,130 2,310 8.5 Irrigated ..............: (D) (D) (D) (D) (D) (X) Non-irrigated ..........: 1,600 1,700 1,930 2,120 2,300 8.5 : Texas, all cropland .......: 1,960 2,060 2,360 2,490 2,570 3.2 Irrigated ..............: 2,300 2,400 2,700 2,900 3,150 8.6 Non-irrigated ..........: 1,900 2,000 2,300 2,420 2,500 3.3 ----------------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Irrigated and Non-Irrigated Cropland Average Value per Acre - States: 2020-2024 (continued) [Only states with significant irrigated acreage appear in this table] -------------------------------------------------------------------------------------- Region, State, : : : : : : Change and Land type : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------------- : ----------------- dollars ---------------- percent : Mountain : Arizona, all cropland 1/ ....: 7,600 7,600 7,900 8,000 (D) (X) Irrigated ................: 7,600 7,600 7,900 8,000 (D) (X) : Colorado, all cropland ......: 2,280 2,370 2,670 2,870 2,810 -2.1 Irrigated ................: 5,500 5,700 6,200 6,620 6,620 - Non-irrigated ............: 1,420 1,480 1,730 1,870 1,950 4.3 : Idaho, all cropland .........: 4,220 4,720 5,330 5,650 5,820 3.0 Irrigated ................: 6,450 7,210 8,140 8,650 8,950 3.5 Non-irrigated ............: 1,790 2,000 2,260 2,360 2,420 2.5 : Montana, all cropland .......: 1,070 1,110 1,250 1,290 1,280 -0.8 Irrigated ................: 3,120 3,230 3,770 3,910 4,120 5.4 Non-irrigated ............: 857 884 981 1,010 1,030 2.0 : Nevada, all cropland 1/ .....: (D) (D) (D) (D) (D) (X) Irrigated ................: (D) (D) (D) (D) (D) (X) : New Mexico, all cropland 1/ .: 1,660 1,760 1,930 1,990 2,000 0.5 Irrigated ................: 4,540 4,820 5,290 5,450 5,680 4.2 Non-irrigated ............: 493 513 561 583 620 6.3 : Utah, all cropland 1/ .......: 4,100 4,290 4,680 4,870 5,040 3.5 Irrigated ................: 6,520 6,800 7,460 7,760 8,200 5.7 Non-irrigated ............: 1,490 1,590 1,700 1,760 1,900 8.0 : Wyoming, all cropland .......: 1,600 1,700 1,850 1,940 1,960 1.0 Irrigated ................: 2,570 2,700 2,970 3,100 3,300 6.5 Non-irrigated ............: 872 942 1,010 1,060 1,090 2.8 : Pacific : California, all cropland ....: 13,160 14,370 16,170 16,820 17,330 3.0 Irrigated ................: 15,500 16,900 19,000 19,700 20,200 2.5 Non-irrigated ............: 5,510 6,120 6,930 7,400 7,700 4.1 : Oregon, all cropland ........: 3,240 3,500 3,940 4,090 4,350 6.4 Irrigated ................: 5,640 6,130 6,850 7,260 7,650 5.4 Non-irrigated ............: 2,310 2,470 2,810 2,860 3,010 5.2 : Washington, all cropland ....: 2,710 2,860 3,180 3,300 3,410 3.3 Irrigated ................: 7,950 8,260 9,080 9,350 9,600 2.7 Non-irrigated ............: 1,290 1,390 1,570 1,650 1,700 3.0 -------------------------------------------------------------------------------------- - Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1/ Excludes American Indian Reservation land. Pasture Average Value per Acre - Regions, States, and United States: 2020-2024 -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------- dollars ------------------ percent : Northeast ..........: 3,890 4,020 4,290 4,480 4,670 4.2 New Jersey .......: 12,800 12,600 13,300 15,000 15,000 - New York .........: 1,600 1,670 1,750 1,840 1,910 3.8 Pennsylvania .....: 3,440 3,550 3,960 4,090 4,160 1.7 Other States 1/ ..: 6,410 6,690 6,900 7,040 7,310 3.8 : Lake States ........: 2,040 2,190 2,390 2,560 2,560 - Michigan .........: 2,510 2,610 2,710 2,850 2,970 4.2 Minnesota ........: 1,650 1,750 1,890 1,940 2,210 13.9 Wisconsin ........: 2,300 2,500 2,800 3,110 3,200 2.9 : Corn Belt ..........: 2,350 2,510 2,730 2,860 3,000 4.9 Illinois .........: 3,200 3,350 3,570 3,720 3,970 6.7 Indiana ..........: 2,310 2,350 2,500 2,590 2,670 3.1 Iowa .............: 2,700 2,850 3,000 3,170 3,500 10.4 Missouri .........: 2,020 2,200 2,450 2,560 2,650 3.5 Ohio .............: 3,410 3,500 3,690 3,810 4,000 5.0 : Northern Plains ....: 1,040 1,060 1,220 1,360 1,450 6.6 Kansas ...........: 1,310 1,410 1,700 1,930 2,100 8.8 Nebraska .........: 995 1,010 1,140 1,300 1,400 7.7 North Dakota .....: 762 798 871 987 1,050 6.4 South Dakota .....: 1,010 997 1,130 1,210 1,270 5.0 : Appalachian ........: 3,560 3,630 3,880 4,180 4,500 7.7 Kentucky .........: 3,110 3,170 3,380 3,570 3,770 5.6 North Carolina ...: 4,760 4,820 5,150 5,480 5,810 6.0 Tennessee ........: 3,900 4,030 4,490 4,960 5,360 8.1 Virginia .........: 3,940 3,970 4,130 4,480 5,090 13.6 West Virginia ....: 2,150 2,180 2,200 2,220 2,250 1.4 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Pasture Average Value per Acre - Regions, States, and United States: 2020-2024 (continued) -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2020 : 2021 : 2022 : 2023 : 2024 :2023-2024 -------------------------------------------------------------------------------- : ------------------ dollars ------------------ percent : Southeast ..........: 4,290 4,410 4,660 4,980 5,510 10.6 Alabama ..........: 2,650 2,720 3,000 3,140 3,330 6.1 Florida ..........: 5,500 5,600 5,800 6,300 7,100 12.7 Georgia ..........: 3,780 4,020 4,310 4,510 4,700 4.2 South Carolina ...: 3,410 3,530 3,800 4,030 4,150 3.0 : Delta States .......: 2,730 2,820 3,050 3,160 3,250 2.8 Arkansas .........: 2,740 2,840 3,050 3,160 3,270 3.5 Louisiana ........: 2,910 3,000 3,170 3,280 3,360 2.4 Mississippi ......: 2,550 2,630 2,920 3,050 3,120 2.3 : Southern Plains ....: 1,600 1,690 1,900 2,030 2,160 6.4 Oklahoma .........: 1,450 1,550 1,720 1,830 2,000 9.3 Texas ............: 1,640 1,720 1,940 2,070 2,200 6.3 : Mountain ...........: 713 756 841 884 909 2.8 Arizona 2/ .......: (D) (D) (D) (D) (D) (X) Colorado .........: 877 924 1,010 1,080 1,100 1.9 Idaho ............: 1,700 1,800 2,120 2,240 2,310 3.1 Montana ..........: 707 741 835 882 890 0.9 Nevada 2/ ........: (D) (D) (D) (D) (D) (X) New Mexico 2/ ....: 436 466 518 539 600 11.3 Utah 2/ ..........: 1,290 1,450 1,585 1,695 1,800 6.2 Wyoming ..........: 602 646 712 737 740 0.4 : Pacific ............: 1,800 1,900 2,180 2,290 2,370 3.5 California .......: 3,060 3,210 3,730 3,860 3,930 1.8 Oregon ...........: 790 878 971 1,020 1,050 2.9 Washington .......: 787 794 886 919 940 2.3 : United States 3/ ...: 1,400 1,470 1,630 1,740 1,830 5.2 -------------------------------------------------------------------------------- - Represents zero. (D) Withheld to avoid disclosing data for individual operations. (X) Not applicable. 1/ Includes: Connecticut, Delaware, Maine, Maryland (beginning in 2018), Massachusetts, New Hampshire, Rhode Island, and Vermont. 2/ Excludes American Indian Reservation land. 3/ Excludes Alaska and Hawaii. Value of Farmland and Buildings - States and United States: 2019-2023 [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] -------------------------------------------------------------------------------- : Total value of land and buildings :----------------------------------------------------------- : : : : : : Change Region and State : 2019 : 2020 : 2021 : 2022 : 2023 :2022-2023 -------------------------------------------------------------------------------- : --------------- million dollars --------------- percent : Northeast : Connecticut ......: 4,514 4,403 4,588 4,995 5,143 3.0 Delaware .........: 4,717 4,602 4,753 4,976 4,950 -0.5 Maine ............: 3,198 3,367 3,438 3,708 3,804 2.6 Maryland .........: 15,980 15,860 16,860 18,700 18,520 -1.0 Massachusetts ....: 5,450 5,450 6,450 6,580 6,486 -1.4 New Hampshire ....: 2,032 2,076 2,140 2,423 2,495 3.0 New Jersey .......: 9,504 9,301 9,450 9,940 11,200 12.7 New York .........: 22,508 22,236 23,182 24,180 25,740 6.5 Pennsylvania .....: 47,742 48,528 50,544 54,386 56,942 4.7 Rhode Island .....: 954 996 1,044 1,134 1,206 6.3 Vermont ..........: 4,260 4,080 4,392 4,632 4,968 7.3 : Lake States : Michigan .........: 47,824 46,844 49,392 51,965 55,860 7.5 Minnesota ........: 121,635 119,126 127,000 146,812 155,194 5.7 Wisconsin ........: 70,148 68,444 72,100 77,832 84,456 8.5 : Corn Belt : Illinois .........: 192,066 190,548 197,904 216,186 221,446 2.4 Indiana ..........: 96,105 93,980 98,490 108,040 120,596 11.6 Iowa .............: 216,245 209,535 224,084 266,400 277,500 4.2 Missouri .........: 94,050 93,982 102,648 114,210 124,470 9.0 Ohio .............: 86,721 88,091 92,736 101,106 110,148 8.9 : Northern Plains : Kansas ...........: 87,552 82,810 89,044 108,416 123,200 13.6 Nebraska .........: 124,992 119,349 129,204 151,800 168,080 10.7 North Dakota .....: 67,032 64,906 67,470 73,920 82,390 11.5 South Dakota .....: 87,493 82,990 87,962 101,097 111,249 10.0 : Appalachian : Kentucky .........: 49,408 51,200 52,324 56,048 61,132 9.1 North Carolina ...: 39,228 39,060 38,950 39,366 39,285 -0.2 Tennessee ........: 43,200 44,496 45,903 50,718 55,212 8.9 Virginia .........: 35,574 35,035 34,500 36,135 38,690 7.1 West Virginia ....: 9,450 9,555 9,870 10,780 11,550 7.1 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Value of Farmland and Buildings - States and United States: 2019-2023 (continued) [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] -------------------------------------------------------------------------------- : Total value of land and buildings :----------------------------------------------------------- : : : : : : Change Region and State : 2019 : 2020 : 2021 : 2022 : 2023 :2022-2023 -------------------------------------------------------------------------------- :---------------- million dollars ---------------- percent : Southeast : Alabama ..........: 26,292 26,964 27,636 30,272 31,476 4.0 Florida ..........: 58,394 58,588 60,528 67,124 71,004 5.8 Georgia ..........: 35,292 35,047 36,663 39,000 42,700 9.5 South Carolina ...: 16,608 17,014 17,813 18,722 20,056 7.1 : Delta States : Arkansas .........: 46,982 48,233 49,623 52,060 53,704 3.2 Louisiana ........: 25,120 25,600 26,160 27,920 28,800 3.2 Mississippi ......: 29,640 30,472 31,512 33,372 34,711 4.0 : Southern Plains : Oklahoma .........: 62,586 61,540 63,840 68,103 72,709 6.8 Texas ............: 262,080 262,080 280,980 305,000 326,250 7.0 : Mountain : Arizona 1/ .......: 25,776 25,237 24,705 24,251 21,957 -9.5 Colorado .........: 50,400 51,810 52,700 57,682 64,500 11.8 Idaho ............: 35,496 37,145 40,825 45,885 48,185 5.0 Montana ..........: 54,114 55,063 56,933 63,936 67,968 6.3 Nevada 1/ ........: 5,775 5,722 5,882 5,979 6,031 0.9 New Mexico 1/ ....: 21,287 21,754 22,874 23,295 23,712 1.8 Utah 1/ ..........: 16,907 17,168 18,205 19,554 20,518 4.9 Wyoming ..........: 21,866 22,669 24,328 26,410 27,878 5.6 : Pacific : California .......: 245,430 247,860 274,590 304,920 311,780 2.2 Oregon ...........: 40,035 41,291 45,725 50,184 53,550 6.7 Washington .......: 41,615 41,760 43,594 46,565 48,789 4.8 : United States 2/ ...:2,711,277 2,693,867 2,851,538 3,156,719 3,358,190 6.4 -------------------------------------------------------------------------------- 1/ Value of all land and buildings adjusted to include American Indian Reservation land value. 2/ Excludes Alaska and Hawaii. Economic Regions: Northeast: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont. Lake States: Michigan, Minnesota, Wisconsin. Corn Belt: Illinois, Indiana, Iowa, Missouri, Ohio. Northern Plains: Kansas, Nebraska, North Dakota, South Dakota. Appalachian: Kentucky, North Carolina, Tennessee, Virginia, West Virginia. Southeast: Alabama, Florida, Georgia, South Carolina. Delta States: Arkansas, Louisiana, Mississippi. Southern Plains: Oklahoma, Texas. Mountain: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming. Pacific: California, Oregon, Washington. Statistical Methodology Survey Procedures: The estimates of land values in this report are based primarily on the June Area 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 9,000 segments of land is selected, each approximately one square mile in size. Enumerators collecting data for the June Area Survey contact all agricultural producers operating land within the boundaries of the sampled land segments and record land value information for cropland and pasture within these segments. They also collect an estimated value of all land and buildings for the operator's entire farming operation and the estimated percent change from the previous year. Survey reported data are reviewed for reasonableness and consistency by comparing with other data reported in the survey and with data reported within the segment the previous year. Estimating Procedures: Once the data are summarized, each Regional Field Office (RFO) conducts an analysis of the summarized indications and any other available information for their States. RFOs then set estimates for land values and submit these recommendations along with their assessment of survey and other administrative information to the Agricultural Statistics Board (ASB). Survey data are also summarized for Regional and National levels and reviewed independently of each State's review. National targets are established by the ASB. After RFO recommendations are submitted, the ASB reviews the RFO estimates and supporting comments, and any conflicts with targeted National levels are resolved. The Regional and United States estimates are weighted by the amount of cropland and pasture in each State, based on the most recent Census of Agriculture. For the purposes of this report, cropland pastured is defined as cropland. Published Estimates: State averages are not published for States with limited reports to ensure confidentiality of individual operations. While the June Area Survey is the primary source of data for the estimates, supplemental survey data and potential previous year revisions are also considered, as described in the more detailed NASS Land Values Methodology and Quality Measures publication. As such, the estimates reflect an average of land values for the year. Revision Policy: For non-census years, land values are subject to an annual revision the following year. After the 5-year Census of Agriculture is completed, land value estimates for the non-census years are subject to a final historic revision. The basis for revision must be supported by additional data that directly affect the level of the estimate. Terms and Definitions Farm: Any establishment from which $1,000 or more of agricultural products were sold or would normally be sold during the year. Government payments are included in sales. Farm real estate value: The value at which all land and buildings used for agricultural production, including dwellings, could be sold under current market conditions, if allowed to remain on the market for a reasonable amount of time. Cropland value: The value of land used to grow field crops, vegetables, or land harvested for hay. Land that switches back and forth between cropland and pasture should be valued as cropland. Hay land, idle cropland, and cropland enrolled in government conservation programs should be valued as cropland. Irrigated cropland value: The value of cropland that normally receives or has the potential to receive water by artificial means to supplement natural rainfall. Irrigated cropland may consist of both land that will or will not be irrigated during the current year, but still has the facilities and equipment to do so. Irrigation facilities and equipment such as wells, pumps, canals, ditches, reservoirs, lakes, tanks, ponds, rivers, streams or creeks are usually present or on nearby acres. Non-irrigated cropland value: The value of cropland that only receives water by natural rainfall. Pasture, grazing, and grassland value: The value of land that is normally grazed by livestock. Pasture does not need to have livestock grazing on it at the time of interview or during the current year in order to be valued as pasture or grazing land. Information Contacts Listed below are the commodity statisticians in the Environmental, Economics, and Demographics Branch of the National Agricultural Statistics Service to contact for additional information. E- mail inquiries may be sent to nass@nass.usda.gov. Bryan Combs, Chief, Environmental, Economics, and Demographics Branch............ (202) 720-6146 Max Reason, Acting Head, Economics Section....................................... (202) 720-8844 Stephanie Brennan - Farm Production Expenditures.............................. (202) 690-0392 Doug Farmer - Chemical Use, Land Values....................................... (202) 690-3229 Zoe Johnson - Cash Receipts, Farm Production Expenditures..................... (202) 720-5446 Michael Mathison - Cash Rents, Farms, Land in Farms, Grazing Fees............. (202) 720-3243 Scott Peterson - Prices Received Indexes, Parity Prices, Prices Paid Indexes.. (202) 690-0726 Max Reason - Prices Received Indexes, Parity Prices, Prices Paid Indexes...... (202) 720-8844 Theresa Varner - Farm Labor................................................... (202) 690-3231 Released August 2, 2024, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). 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