2017 Land Values from the USDA Agricultural Departments National Agricultural Statistics Service
This is data and information extrapolated from the USDA Agricultural Statistics Departments annual review of property values in the United States. The interesting point is even with commodity prices, and farming and ranching incomes falling, the property values in most areas remained stable or increased.
The United States farm real estate value averaged $3,080 per acre for 2017, which is an increase of $70 Per acre (+2.3%) from 2016 values. Regional changes in the average farm real estate value ranged from an 8.7% increase in the Pacific Region to a 1.8% increase in the Northern Plains region. The highest farm real estate values were in the Corn Belt Region at $6,250 an acre. The Mountain Region had the lowest farm real estate value at $1,130 an acre.
Some of the key areas that Williams Ranch Group LLC operates includes Colorado, New Mexico, and Texas. Colorado cropland at a value of $1,430, which is a .7% increase from 2016. Colorado pasture land was valued at $760 an acre, which equates to no change from 2016. New Mexico cropland for 2017 was $1,480, which was a 2.1% increase. New Mexico pasture land came in at $360 an acre, which is an increase of 2.9%. Texas cropland came in at $2,090 an acre for a 6.6% increase, and pasture land is $1,650, being a 3.1% increase from 2016.
We recently reviewed data that compared the cost of land to build an average home in 1975 was $4,489. That same land in 2015 was valued at $97,148, an increase of $92,659. This is a great example of how land increases in value, and is a superb investment with low overhead cost compared to rental homes or condos. If you have any questions concerning this report, or would like to invest in rural properties, please contact us at Williams Ranch Group LLC.
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