Sp Sy 3 (06) United States Department of Agriculture National Agricultural Statistics Service Land Values and Cash Rents 2006 Summary August 2006 Table of Contents Page Agricultural Land Values Highlights. . . . . . . . . . . . .2 Agricultural Land Values Charts and Maps . . . . . . . . . .3 U. S. Average Farm Real Estate Value, Dollars per Acre, 1983-2006 2006 Farm Real Estate Value by State U. S. Average Cropland Value, Dollars per Acre, 1998-2006 2006 Cropland Value by State U. S. Average Pasture Value, Dollars per Acre, 1998-2006 2006 Pasture Value by State Farm Real Estate: Average Value per Acre, by Region and State, January 1, 2002-2006. . . . . . . . . . . . . . . . . . . . . . . . . .6 Cropland: Average Value per Acre, by Region and State, January 1, 2002-2006. . . . . . . . . . . . . . . . . . . . . . . . . .7 Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 2002-2006. . . . . . . . . . . . . . . . . .8 Pasture: Average Value per Acre, by Region and State, January 1, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . . . 10 Agricultural Cash Rents Highlights . . . . . . . . . . . . 11 Agricultural Cash Rent Charts and Maps . . . . . . . . . . 12 U. S. Average Cropland Rented for Cash, Dollars per Acre, 1999-2006 2006 Cropland Rented for Cash by State U. S. Average Pasture Rented for Cash, Dollars per Acre, 1999-2006 2006 Pasture Rented for Cash by State Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . 14 Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 . . . . . . . . . . . . . . . . . . . . . . 16 Economic Regions . . . . . . . . . . . . . . . . . . . . . 17 Reliability of Data in this Report . . . . . . . . . . . . 18 Agricultural Land Values Highlights Farm real estate values, a measurement of the value of all land and buildings on farms, averaged $1,900 per acre on January 1, 2006, up 15 percent from 2005. The $1,900 per acre is a record high and $250 more than a year earlier. Cropland and pasture values rose by 13 and 22 percent, respectively, since January 1, 2005. Cropland values averaged $2,390 per acre and pasture values averaged $1,000 per acre on January 1, 2006, compared with $2,110 and $820 per acre, respectively, a year earlier. The increase in farm real estate values continues to be driven by a combination of mostly nonagricultural factors, including relative low interest rates and strong demand for nonagricultural land uses. Demand for farm real estate as an investment continues to be a strong market influence. Regional increases in the average value of farm real estate ranged from 8.9 percent in the Delta region to 35 percent in the Mountain region. The highest farm real estate values are in the Northeast region, where urban influences have pushed the average value to $4,550 per acre. In the Corn Belt region farm real estate values rose 12 percent, to $3,040 per acre. The Northern Plains region, with its expanse of pasture and rangeland, had the lowest farm real estate value, at $834 per acre. The Southeast region had the highest average increase in cropland value, at $4,550, up $890 per acre. In the Corn Belt region cropland values rose 12 percent, to $3,230 per acre. The Lake States region also increased 12 percent, to $2,550 per acre. Together, the Corn Belt and Lake States regions account for nearly one-third of the U.S. total cropland acres. The Southeast region had the highest average increase in pasture value, up $1,510 per acre. In the Northern Plains, Southern Plains, Mountain, and Pacific regions (17 western states) pasture values per acre increased 15 percent, 24 percent, 54 percent, and 13 percent, respectively. Together, the 17 western states account for about 89 percent of the total pasture acres on farms in the 48 States. Farm Real Estate: Average Value per Acre, by Region and State, January 1, 2002-2006 1/ -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2002 : 2003 : 2004 : 2005 : 2006 : 05-06 -------------------------------------------------------------------------------- : ------------------ Dollars ------------------ Percent : Northeast: : 3,000 3,200 3,550 *4,110 4,550 10.7 CT : 8,500 9,500 10,200 10,800 11,400 5.6 DE : 3,700 4,000 6,000 8,400 10,200 21.4 ME : 1,600 1,750 1,850 1,950 2,050 5.1 MD : 4,000 4,150 5,700 7,900 8,900 12.7 MA : 8,100 9,300 9,900 10,500 11,600 10.5 NH : 2,800 3,100 3,250 3,450 3,700 7.2 NJ : 8,600 9,100 9,750 *10,500 10,900 3.8 NY : 1,610 1,700 1,780 *1,920 2,050 6.8 PA : 3,250 3,450 3,650 *4,220 4,790 13.5 RI : 8,300 9,300 10,200 11,200 12,500 11.6 VT : 1,900 2,050 2,150 2,300 2,450 6.5 Lake States: : 1,870 2,010 2,220 *2,520 2,840 12.7 MI : 2,470 2,680 2,920 3,150 3,500 11.1 MN : 1,500 1,600 1,800 *2,100 2,400 14.3 WI : 2,150 2,300 2,500 2,850 3,200 12.3 Corn Belt: : 2,030 2,130 2,300 *2,720 3,040 11.8 IL : 2,350 2,430 2,610 *3,330 3,800 14.1 IN : 2,460 2,570 2,770 *3,140 3,630 15.6 IA : 1,920 2,010 2,200 *2,650 2,930 10.6 MO : 1,380 1,470 1,580 *1,790 1,980 10.6 OH : 2,600 2,740 2,930 3,180 3,480 9.4 Northern Plains: : 576 594 632 *735 834 13.5 KS : 665 685 715 *850 930 9.4 NE : 760 775 825 *940 1,090 16.0 ND : 415 425 455 *505 560 10.9 SD : 430 460 500 *605 710 17.4 Appalachian: : 2,250 2,370 2,560 *3,110 3,470 11.6 KY : 1,830 1,900 2,000 *2,500 2,750 10.0 NC : 2,900 3,100 3,300 *3,940 4,250 7.9 TN : 2,300 2,400 2,500 *2,850 3,070 7.7 VA : 2,530 2,700 3,200 *4,050 4,900 21.0 WV : 1,330 1,400 1,500 *1,950 2,150 10.3 Southeast: : 2,140 2,270 2,420 *3,530 4,420 25.2 AL : 1,700 1,760 1,860 *2,400 2,750 14.6 FL : 2,720 2,900 3,100 *5,400 7,280 34.8 GA : 2,050 2,200 2,350 *3,200 3,900 21.9 SC : 1,900 2,050 2,150 *2,400 2,600 8.3 Delta States: : 1,390 1,460 1,580 *1,790 1,950 8.9 AR : 1,410 1,480 1,650 *1,870 2,050 9.6 LA : 1,440 1,500 1,580 *1,770 1,900 7.3 MS : 1,330 1,400 1,480 *1,690 1,850 9.5 Southern Plains: : 755 788 832 *1,000 1,190 19.0 OK : 680 705 745 *900 970 7.8 TX : 775 810 855 *1,030 1,250 21.4 Mountain: : 500 523 550 *698 944 35.2 AZ 2/ : 1,400 1,500 1,600 *2,330 3,350 43.8 CO : 700 730 775 *940 1,090 16.0 ID : 1,240 1,280 1,360 *1,750 2,440 39.4 MT : 370 390 410 *510 760 49.0 NV 2/ : 465 480 500 *650 1,000 53.8 NM 2/ : 250 260 265 *360 520 44.4 UT 2/ : 1,040 1,100 1,150 *1,460 2,070 41.8 WY : 285 300 315 *370 420 13.5 Pacific: : 2,240 2,350 2,480 *3,120 3,290 5.4 CA : 3,400 3,600 3,800 *5,090 5,390 5.9 OR : 1,150 1,200 1,250 1,350 1,420 5.2 WA : 1,390 1,480 1,530 1,650 1,750 6.1 : 48 States 3/ : 1,210 1,270 1,360 *1,650 1,900 15.2 -------------------------------------------------------------------------------- * Revised. 1/ See page 17 for definition of Regions. 2/ Excludes American Indian Reservation Land. 3/ Excludes Alaska and Hawaii. Cropland: Average Value per Acre, by Region and State, January 1, 2002-2006 1/ -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2002 : 2003 : 2004 : 2005 : 2006 : 05-06 -------------------------------------------------------------------------------- : ------------------ Dollars ------------------ Percent : Northeast: : 3,210 3,400 3,800 *4,390 5,040 14.8 DE : 3,500 3,850 5,700 8,000 9,800 22.5 MD : 3,900 4,000 5,600 7,600 8,800 15.8 NJ : 9,000 9,300 9,900 10,500 11,200 6.7 NY : 1,320 1,390 1,470 1,530 1,820 19.0 PA : 3,350 3,500 3,700 *4,280 5,110 19.4 Oth Sts 2/ : 5,240 5,920 6,230 6,610 7,090 7.3 Lake States: : 1,720 1,860 2,030 *2,270 2,550 12.3 MI : 2,150 2,350 2,550 2,750 3,000 9.1 MN : 1,430 1,520 1,690 *1,950 2,180 11.8 WI : 2,000 2,200 2,350 2,600 3,000 15.4 Corn Belt: : 2,180 2,270 2,450 *2,880 3,230 12.2 IL : 2,430 2,500 2,700 *3,370 3,840 13.9 IN : 2,440 2,550 2,750 *3,150 3,650 15.9 IA : 2,040 2,120 2,320 *2,770 3,060 10.5 MO : 1,480 1,580 1,690 1,890 2,100 11.1 OH : 2,630 2,750 2,940 3,230 3,540 9.6 Northern Plains: : 720 737 783 *916 1,040 13.5 KS : 679 684 705 *849 927 9.2 NE : 1,200 1,210 1,290 *1,470 1,690 15.0 ND : 450 460 490 546 610 11.7 SD : 626 681 747 *907 1,090 20.2 Appalachian: : 2,340 2,490 2,670 *3,040 3,450 13.5 KY : 2,000 2,100 2,230 *2,500 2,850 14.0 NC : 2,750 2,950 3,150 *3,450 3,610 4.6 TN : 2,270 2,350 2,420 *2,650 2,920 10.2 VA : 2,550 2,800 3,300 *4,100 5,300 29.3 WV : 1,920 2,050 2,200 *3,300 3,500 6.1 Southeast: : 2,240 2,350 2,460 *3,660 4,550 24.3 AL : 1,600 1,700 1,800 *2,450 2,950 20.4 FL : 3,730 3,690 3,810 *7,220 8,770 21.5 GA : 1,970 2,150 2,260 *2,750 3,730 35.6 SC : 1,600 1,750 1,850 2,050 2,150 4.9 Delta States: : 1,160 1,210 1,270 *1,460 1,600 9.6 AR : 1,180 1,220 1,290 *1,460 1,580 8.2 LA : 1,190 1,240 1,300 *1,510 1,630 7.9 MS : 1,100 1,160 1,210 *1,410 1,590 12.8 Southern Plains: : 808 863 902 *1,010 1,180 16.8 OK : 643 668 697 *846 891 5.3 TX : 871 937 981 *1,070 1,290 20.6 Mountain: : 1,120 1,170 1,200 *1,420 1,750 23.2 AZ 3/ : 5,600 6,000 6,400 *9,000 12,000 33.3 CO : 999 1,050 1,060 *1,170 1,240 6.0 ID : 1,600 1,680 1,710 *2,080 2,800 34.6 MT : 503 520 548 *652 846 29.8 NV 3/ : 1,850 1,900 1,950 *2,300 3,100 34.8 NM 3/ : 1,440 1,470 1,450 *1,530 1,760 15.0 UT 3/ : 2,880 2,960 2,900 *3,060 3,650 19.3 WY : 915 957 972 *1,070 1,150 7.5 Pacific: : 3,410 3,500 3,570 *4,620 4,850 5.0 CA : 5,730 5,920 6,020 *8,230 8,620 4.7 OR : 1,650 1,670 1,690 1,800 1,940 7.8 WA : 1,450 1,470 1,510 1,610 1,660 3.1 : 48 States 4/ : 1,590 1,660 1,770 *2,110 2,390 13.3 -------------------------------------------------------------------------------- * Revised. 1/ See page 17 for definition of Regions. 2/ Includes: CT, ME, MA, NH, RI, and VT. 3/ Excludes American Indian Reservation Land. 4/ Excludes Alaska and Hawaii. Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 2002-2006 1/ -------------------------------------------------------------------------------- Region, State, : : : : : : Change and Land Type : 2002 : 2003 : 2004 : 2005 : 2006 : 05-06 -------------------------------------------------------------------------------- : ------------------ Dollars ------------------ Percent : Corn Belt: : MO All Cropland : 1,480 1,580 1,690 1,890 2,100 11.1 Irrigated : 2,070 2,150 2,250 2,470 2,840 15.0 Non-Irrigated : 1,440 1,540 1,650 1,850 2,050 10.8 : Northern Plains: : KS All Cropland : 679 684 705 *849 927 9.2 Irrigated : 1,080 1,080 1,110 *1,240 1,300 4.8 Non-Irrigated : 640 645 665 *810 890 9.9 : NE All Cropland : 1,200 1,210 1,290 *1,470 1,690 15.0 Irrigated : 1,630 1,650 1,750 *1,940 2,150 10.8 Non-Irrigated : 980 980 1,050 *1,230 1,450 17.9 : SD All Cropland : 626 681 747 *907 1,090 20.2 Irrigated : 950 1,000 1,080 *1,240 1,460 17.7 Non-Irrigated : 620 675 740 *900 1,080 20.0 : Southeast: : FL All Cropland : 3,730 3,690 3,810 *7,220 8,770 21.5 Irrigated : 4,330 4,180 4,400 *8,050 9,550 18.6 Non-Irrigated : 2,460 2,670 2,850 *6,100 7,900 29.5 : GA All Cropland : 1,970 2,150 2,260 *2,750 3,730 35.6 Irrigated : 1,800 1,900 2,100 *2,750 3,650 32.7 Non-Irrigated : 2,000 2,200 2,300 2,750 3,750 36.4 : Delta States: : AR All Cropland : 1,180 1,220 1,290 *1,460 1,580 8.2 Irrigated : 1,310 1,350 1,450 *1,640 1,730 5.5 Non-Irrigated : 1,070 1,100 1,150 *1,320 1,460 10.6 : LA All Cropland : 1,190 1,240 1,300 *1,510 1,630 7.9 Irrigated : 1,050 1,070 1,150 *1,360 1,410 3.7 Non-Irrigated : 1,230 1,280 1,340 *1,550 1,680 8.4 : MS All Cropland : 1,100 1,160 1,210 *1,410 1,590 12.8 Irrigated : 1,190 1,230 1,280 *1,460 1,550 6.2 Non-Irrigated : 1,080 1,140 1,190 *1,400 1,600 14.3 : Southern Plains: : OK All Cropland : 643 668 697 *846 891 5.3 Irrigated : 805 820 850 *990 1,160 17.2 Non-Irrigated : 635 660 690 *840 880 4.8 : TX All Cropland : 871 937 981 *1,070 1,290 20.6 Irrigated : 950 1,000 1,050 *1,150 1,260 9.6 Non-Irrigated : 850 920 965 *1,060 1,300 22.6 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, 2002-2006 1/ 2/ (continued) -------------------------------------------------------------------------------- Region, State, : : : : : : Change and Land Type : 2002 : 2003 : 2004 : 2005 : 2006 : 05-06 -------------------------------------------------------------------------------- : ------------------ Dollars ------------------ Percent : Mountain: : AZ All Cropland : 5,600 6,000 6,400 *9,000 12,000 33.3 Irrigated : 5,600 6,000 6,400 *9,000 12,000 33.3 : CO All Cropland : 999 1,050 1,060 *1,170 1,240 6.0 Irrigated : 1,910 2,000 2,100 *2,500 2,800 12.0 Non-Irrigated : 510 540 580 *650 725 11.5 : ID All Cropland : 1,600 1,680 1,710 *2,080 2,800 34.6 Irrigated : 2,080 2,200 2,330 *3,000 4,300 43.3 Non-Irrigated : 760 780 800 *900 1,140 26.7 : MT All Cropland : 503 520 548 *652 846 29.8 Irrigated : 1,510 1,580 1,680 *2,000 2,800 40.0 Non-Irrigated : 360 370 400 *490 630 28.6 : NV All Cropland : 1,850 1,900 1,950 *2,300 3,100 34.8 Irrigated : 1,850 1,900 1,950 *2,300 3,100 34.8 : NM All Cropland : 1,440 1,470 1,450 *1,530 1,760 15.0 Irrigated : 2,600 2,650 3,000 *3,500 4,500 28.6 Non-Irrigated : 265 270 270 *350 450 28.6 : UT All Cropland : 2,880 2,960 2,900 *3,060 3,650 19.3 Irrigated : 3,400 3,500 3,800 *4,400 5,800 31.8 Non-Irrigated : 750 775 850 *1,050 1,350 28.6 : WY All Cropland : 915 957 972 *1,070 1,150 7.5 Irrigated : 1,100 1,150 1,300 *1,600 1,900 18.8 Non-Irrigated : 295 310 340 *400 480 20.0 : Pacific: : CA All Cropland : 5,730 5,920 6,020 *8,230 8,620 4.7 Irrigated : 6,100 6,300 6,600 *9,370 10,100 7.8 Non-Irrigated : 1,950 2,000 2,130 *2,690 2,980 10.8 : OR All Cropland : 1,650 1,670 1,690 1,800 1,940 7.8 Irrigated : 2,200 2,250 2,350 2,580 2,900 12.4 Non-Irrigated : 1,200 1,200 1,250 1,360 1,470 8.1 : WA All Cropland : 1,450 1,470 1,510 1,610 1,660 3.1 Irrigated : 3,200 3,200 3,300 3,550 3,730 5.1 Non-Irrigated : 925 950 990 1,060 1,090 2.8 -------------------------------------------------------------------------------- * Revised. 1/ Only States with significant irrigated acreage appear in this table. 2/ See page 17 for definition of Regions. Pasture: Average Value per Acre, by Region and State, January 1, 2002-2006 1/ -------------------------------------------------------------------------------- : : : : : : Change Region and State : 2002 : 2003 : 2004 : 2005 : 2006 : 05-06 -------------------------------------------------------------------------------- : ------------------ Dollars ------------------ Percent : Northeast: : 2,090 2,190 2,470 2,770 3,050 10.1 MD : 3,500 3,650 5,500 7,300 8,300 13.7 NJ : 9,700 10,000 10,600 11,300 11,700 3.5 NY : 680 720 775 825 890 7.9 PA : 1,800 1,850 2,000 2,200 2,480 12.7 Oth Sts 2/ : 3,590 3,880 4,140 4,480 4,960 10.7 Lake States: : 889 953 1,050 *1,290 1,490 15.5 MI : 1,450 1,600 1,800 1,950 2,150 10.3 MN : 575 625 700 *940 1,150 22.3 WI : 1,050 1,100 1,200 *1,480 1,700 14.9 Corn Belt: : 1,050 1,120 1,200 *1,440 1,610 11.8 IL : 1,030 1,060 1,110 *1,720 1,880 9.3 IN : 1,560 1,660 1,780 *1,930 2,090 8.3 IA : 760 800 880 *1,070 1,300 21.5 MO : 980 1,050 1,130 *1,340 1,500 11.9 OH : 1,860 1,950 2,100 2,240 2,380 6.3 Northern Plains: : 249 258 279 *343 396 15.5 KS : 400 410 430 *530 620 17.0 NE : 245 255 275 *320 360 12.5 ND : 165 170 185 *220 250 13.6 SD : 210 220 240 *310 360 16.1 Appalachian: : 1,910 2,000 2,200 *2,910 3,320 14.1 KY : 1,440 1,460 1,530 *1,980 2,100 6.1 NC : 2,830 3,010 3,200 *4,000 4,500 12.5 TN : 2,250 2,350 2,450 *3,220 3,420 6.2 VA : 2,100 2,250 2,800 *3,850 4,800 24.7 WV : 1,120 1,200 1,280 *1,660 1,880 13.3 Southeast: : 1,870 2,010 2,150 *4,200 5,710 36.0 AL : 1,300 1,350 1,420 *1,950 2,100 7.7 FL : 1,950 2,100 2,250 *5,150 7,500 45.6 GA : 2,500 2,750 2,950 *5,600 7,150 27.7 SC : 1,750 1,900 2,000 *2,300 2,550 10.9 Delta States: : 1,170 1,230 1,300 *1,620 1,800 11.1 AR : 1,150 1,210 1,300 *1,590 1,740 9.4 LA : 1,270 1,310 1,350 *1,670 1,800 7.8 MS : 1,130 1,200 1,270 *1,610 1,900 18.0 Southern Plains: : 571 590 624 *830 1,030 24.1 OK : 435 450 475 *640 760 18.8 TX : 600 620 655 *869 1,080 24.3 Mountain: : 273 285 302 *395 610 54.4 AZ 3/ : 450 470 500 *650 1,120 72.3 CO : 410 430 470 *620 800 29.0 ID : 700 700 725 *950 1,630 71.6 MT : 255 270 285 *370 650 75.7 NV 3/ : 250 255 260 *350 620 77.1 NM 3/ : 155 160 170 *250 400 60.0 UT 3/ : 475 500 520 *690 1,160 68.1 WY : 210 220 235 *280 360 28.6 Pacific: : 901 952 1,020 *1,190 1,340 12.6 CA : 1,400 1,500 1,600 *1,910 2,160 13.1 OR : 440 450 470 510 540 5.9 WA : 510 520 540 585 605 3.4 : 48 States 4/ : 577 605 634 *820 1,000 22.0 -------------------------------------------------------------------------------- * Revised. 1/ See page 17 for definition of Regions. 2/ Includes: CT, DE, ME, MA, NH, RI, and VT. 3/ Excludes American Indian Reservation Land. 4/ Excludes Alaska and Hawaii. Agricultural Cash Rents Highlights Nationally, cash rents per acre paid to landlords for cropland rose 1.3 percent while pasture rents increased 4.9 percent for the 2006 crop and grazing year. Cropland cash rents paid in 2006 averaged $79.00 per acre, compared with $78.00 per acre for 2005. Pasture cash rents averaged $10.80 per acre, 50 cents higher than 2005. The increases in cropland and pasture rental rates continue to reflect producers' optimism following the combination of high production and price levels of major U.S. agricultural commodities in 2005. Cropland cash rents reported in 2006 increased in all regions except the Appalachian, Delta, and Southern Plains regions where rental rates declined marginally. Appalachian cropland cash rents declined by $2.00 from $58.00 to $56.00 per acre in 2006. Delta cropland cash rents decreased by $1.00 per acre to $69.50 in 2006 while cropland cash rents in the Southern Plains decreased by $1.50 to $29.00 per acre for 2006. Cash rents for cropland in the Southeast region at $48.00 per acre remained unchanged from last year. The Corn Belt and Northern Plains regions, which together accounted for slightly more than one half of cash-rented cropland acreage, increased 1.7 percent and 0.9 percent respectively from 2005. Cropland cash rents increased $2.00 per acre to $119.00 in the Corn Belt and 50 cents per acre to $53.50 in the Northern Plains. The major corn and soybean producing States of Illinois, Indiana, and Iowa experienced increases ranging from 1.5 to 2.3 percent for cropland cash rents. Illinois and Iowa cropland cash rents averaged $132.00 and $133.00 per acre, respectively. Cash rents for pasture land increased in all regions except the Southern Plains. Pasture cash rents increased by $1.00 per acre to $20.00 in the Southeast and by $2.00 per acre to $26.00 in the Northeast region. In the Northern Plains and Southern Plains regions, which account for two-thirds of the cash-rented pasture acreage, changes were marginally higher and lower, respectively. Northern Plains cash rents for pasture increased 50 cents per acre to $12.50 while cash rents for pasture decreased by 20 cents per acre to $8.20 in the Southern Plains. Wisconsin, at $38.00 per acre and unchanged from 2005, continues to lead the Nation with the highest per acre pasture rent. Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 1/ 2/ -------------------------------------------------------------------------------- Region, State, : : : : : and Land Type : 2002 : 2003 : 2004 : 2005 : 2006 -------------------------------------------------------------------------------- : Dollars : Northeast: : 41.00 42.00 44.50 46.00 47.00 DE : 56.30 57.00 61.00 64.00 65.00 MD : 55.50 55.50 59.00 62.00 62.00 NJ : 47.00 47.00 47.50 47.50 47.50 NY : 35.00 37.00 40.00 41.00 39.00 PA : 40.00 41.00 43.00 45.00 46.50 : Lake States: : 74.00 74.50 76.20 78.00 80.00 MI : 60.00 60.00 62.00 62.00 65.00 MN : 81.00 82.00 83.50 86.50 88.00 WI : 67.00 68.00 70.00 70.00 71.00 : Corn Belt: : 108.00 110.00 114.00 117.00 119.00 IL : 122.00 123.00 126.00 129.00 132.00 IN : 101.00 103.00 107.00 109.00 111.00 IA : 120.00 122.00 126.00 131.00 133.00 MO : Non-Irrigated : 66.00 70.00 76.00 79.00 79.00 OH : 77.00 78.00 80.00 82.00 86.00 : Northern Plains: : 47.00 48.00 50.00 53.00 53.50 KS : 39.00 39.00 41.00 42.00 44.00 Irrigated : 70.00 68.00 72.00 73.00 74.00 Non-irrigated : 36.00 36.00 37.50 38.50 39.00 NE : 90.00 92.00 95.00 97.00 101.00 Irrigated : 121.00 123.00 125.00 127.00 131.00 Non-Irrigated : 66.00 67.00 70.00 *72.00 76.00 ND : 36.50 36.50 37.50 39.00 39.00 SD : Non-Irrigated : 42.00 45.00 47.50 50.40 53.00 : Appalachian: : 51.00 52.00 55.00 58.00 56.00 KY : 68.00 70.00 72.00 73.00 78.00 NC : 49.50 51.00 53.00 *53.00 52.00 TN : 60.50 62.00 67.00 67.00 68.00 VA : 36.00 36.50 39.00 40.00 39.00 WV : 27.00 28.00 30.00 28.00 30.00 : Southeast: : 45.00 44.00 44.50 48.00 48.00 AL : 36.00 35.00 33.00 40.00 39.00 FL : Non-Irrigated : 32.00 32.00 34.00 37.00 39.00 GA : 55.00 56.00 58.00 58.00 60.00 Irrigated : 103.00 105.00 110.00 115.00 117.00 Non-Irrigated : 39.00 40.00 42.00 41.00 43.00 SC : 28.50 28.50 28.50 29.00 29.00 : Delta States: : 64.00 65.00 68.50 70.50 69.50 AR : 69.00 71.00 75.00 76.00 76.00 Irrigated : 80.00 78.00 86.00 86.00 86.00 Non-Irrigated : 53.00 55.00 59.00 58.00 56.00 LA : 62.00 62.00 66.00 66.00 72.00 Irrigated : 73.00 68.00 76.00 70.00 81.00 Non-Irrigated : 57.00 59.00 62.00 62.00 66.00 MS : 62.00 63.00 66.00 69.00 68.00 Irrigated : 79.00 78.00 85.00 *93.00 87.00 Non-Irrigated : 54.00 56.00 58.00 60.00 62.00 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 1/ 2/ (continued) -------------------------------------------------------------------------------- Region, State, : : : : : and Land Type : 2002 : 2003 : 2004 : 2005 : 2006 -------------------------------------------------------------------------------- : Dollars : Southern Plains: : 27.60 28.00 30.50 30.50 29.00 OK : Non-Irrigated : 27.00 27.50 30.00 29.00 28.00 TX : 27.00 27.30 29.80 29.70 28.00 Irrigated : 53.00 55.00 56.00 57.50 47.50 Non-Irrigated : 21.00 21.00 23.70 23.00 23.00 : Mountain: : 60.00 60.50 62.50 62.00 65.00 AZ : Irrigated : 135.00 135.00 150.00 165.00 180.00 CO : 65.00 60.00 58.00 61.00 61.00 Irrigated : 95.00 93.00 91.00 100.00 100.00 Non-Irrigated : 22.50 23.00 22.00 23.00 23.00 ID : 96.00 97.00 99.00 104.00 108.00 Irrigated : 116.00 116.00 118.00 124.00 128.00 Non-Irrigated : 50.00 51.00 53.00 55.00 58.00 MT : 24.00 24.00 24.50 25.00 30.00 Irrigated : 47.00 48.00 49.00 53.00 68.00 Non-Irrigated : 18.50 18.50 18.90 19.50 20.50 UT : Irrigated : 60.00 61.00 61.00 65.00 60.00 : Pacific: : 180.00 180.00 180.00 185.00 192.00 CA : Irrigated : 310.00 300.00 300.00 330.00 320.00 OR : 95.00 98.00 100.00 100.00 100.00 Irrigated : 115.00 120.00 125.00 130.00 135.00 Non-Irrigated : 67.50 65.00 65.00 70.00 70.00 WA : Irrigated : 170.00 175.00 185.00 190.00 200.00 : 48 States 3/ : 71.60 73.00 76.50 78.00 79.00 -------------------------------------------------------------------------------- * Revised. 1/ Unless otherwise specified as irrigated or non-irrigated, data are for all cropland. 2/ See page 17 for definition of Regions. 3/ Excludes Alaska and Hawaii. Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 2002-2006 1/ -------------------------------------------------------------------------------- Region and State : 2002 : 2003 : 2004 : 2005 : 2006 -------------------------------------------------------------------------------- : Dollars : Northeast: : 22.00 23.00 24.00 24.00 26.00 PA : 28.00 25.00 25.00 27.00 25.00 : Lake States: : 23.00 23.50 24.50 26.90 28.00 MN : 19.00 19.00 19.50 20.50 19.00 WI : 36.00 36.00 37.00 38.00 38.00 : Corn Belt: : 27.00 27.00 29.00 30.50 31.00 IL : 32.00 32.50 34.00 34.50 34.00 IA : 30.50 31.00 32.50 36.00 38.00 MO : 23.00 23.50 26.00 27.00 26.00 : Northern Plains: : 11.10 11.20 11.80 12.00 12.50 KS : 12.60 12.60 13.20 13.40 13.70 NE : 11.20 11.50 12.00 12.00 12.50 ND : 9.70 9.80 10.20 10.60 11.30 SD : 10.90 11.00 11.60 12.30 12.90 : Appalachian: : 18.00 18.00 19.10 21.00 22.00 NC : 21.50 22.00 23.00 25.00 25.00 TN : 17.00 17.50 19.00 18.00 20.00 VA : 16.00 16.50 17.50 20.00 20.00 : Southeast: : 18.00 18.50 19.10 19.00 20.00 AL : 18.00 18.00 18.00 17.50 18.50 FL : 16.00 17.00 17.50 18.50 22.00 GA : 23.00 23.00 24.00 22.00 25.00 : Delta States: : 16.20 16.00 16.60 17.00 17.50 LA : 16.00 15.00 15.50 16.50 19.00 MS : 17.00 16.00 16.50 16.50 16.00 : Southern Plains: : 7.70 8.00 8.10 8.40 8.20 OK : 8.50 8.50 9.00 9.00 8.50 TX : 7.40 7.80 7.80 8.30 8.10 : Mountain: : 3.50 3.40 3.60 3.80 4.00 CO : 4.00 3.50 3.70 4.30 4.00 MT : 4.70 4.50 5.00 5.90 5.00 NM : 1.60 1.60 1.70 1.80 2.00 UT : 10.00 9.00 10.00 9.00 11.00 WY : 3.80 3.50 4.00 4.00 4.50 : Pacific: : 13.00 12.50 13.50 13.50 14.50 CA : 11.00 10.60 11.50 12.00 13.00 : 48 States 2/ : 9.20 9.00 9.60 10.30 10.80 -------------------------------------------------------------------------------- 1/ See page 17 for definition of Regions. 2/ Excludes Alaska and Hawaii. Economic 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. Reliability of Land Values and Cash Rents in this Report Survey Procedures: The estimates of land values and cash rents in this report are based primarily on the June Area Survey, conducted during the first 2 weeks of June. This annual survey uses a complete, probability-based land-area sampling frame. In 2006, the survey included a stratified sample of 10,894 land areas (segments), averaging approximately 1 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 crop and pasture land 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. In addition to land values, enumerators collect information on acres of crop and pasture land rented for cash and the per acre cash rent paid. 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 Field Office (FO) conducts an analysis of the summarized indications and any other available information for their State. FOs then set estimates for land values and cash rents 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 and Regional targets are established by the ASB prior to submission of FO recommendations. After FO recommendations are submitted, the ASB reviews the FO estimates and supporting comments, and any conflicts with targeted Regional and National levels are resolved. State level estimates are used to develop Regional and National estimates for land values and cash rents. The State estimates are weighted by the amount of cropland and pasture land in each state, based on the most recent Censuses 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 and/or high variability of the survey item's reported data. Revision Policy: For non-census years, land value and cash rent estimates are subject to an annual revision the following year. After the 5-year Census of Agriculture is completed, 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. Reliability: The June Area Survey from which land value and cash rent estimates are made is subject to sampling and non-sampling errors that are common to all surveys. Both types of error affect the "accuracy" of the estimates. Sampling error occurs because a complete census is not taken. The sampling error measures the variation in estimates from the average of all possible samples. An estimate of 100 with a sampling error of 1.0 would mean that chances are 19 out of 20 (95 percent confidence interval) that the estimates from all possible samples averaged together would be between 98 and 102 (the survey indication plus or minus two times the sampling error). The sampling errors from the 2006 area frame survey are listed below: U.S. Regions (range low to high) Farm Real Estate Value (%) 2.3 1.2 to 12.1 All Cropland Value (%) 2.9 1.2 to 21.2 Irrigated Cropland (%) 3.5 1.2 to 12.3 Non-irrigated Cropland (%) 2.1 1.7 to 11.2 Pasture Value (%) 4.2 2.3 to 22.3 Cropland Cash Rent (%) 0.9 0.6 to 9.3 Pasture Cash Rent (%) 6.9 2.2 to 34.6 Sampling errors cannot be applied directly to the values published in this report to determine confidence intervals since the official estimates represent a composite of information from more than a single source. Non-sampling errors cannot be measured directly and can occur in complete censuses as well as sample surveys. They are caused by the inability to obtain correct information from each person sampled, differences in interpreting questions or definitions, and mistakes in coding or processing data. To minimize non-sampling errors, vigorous quality controls are used in the data collection process and all data are carefully reviewed for consistency and reasonableness. Released August 4, 2006, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on Land Values and Cash Rents 2006 Summary call Jim Williams or Kevin Hintzman at (202) 720-6146, office hours 7:30 a.m. to 4:00 p.m. ET. ACCESS TO REPORTS!! For your convenience, there are several ways to obtain NASS reports, data products, and services: INTERNET ACCESS All NASS reports are available free of charge on the worldwide Internet. For access, connect to the Internet and go to the NASS Home Page at: www.nass.usda.gov. 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