U.S. Farmland Values Rose Slightly During 2009

USAgNet reports that the U.S. farm real estate value of all land and buildings on farms, averaged $2,140 per acre on January 1, 2010, up 1.4% from 2009. Regional changes in the average value of farm real estate ranged from a 4.9% increase in the Northern Plains regions to a 3.3% decline in the Southeast region.

The highest farm real estate values remained in the Northeast region at $4,690 per acre. The Mountain region had the lowest farm real estate value, $911 per acre. The U.S. cropland value increased by $30 per acre, or 1.1%, to $2,700 per acre. In the Northern Plains and Delta regions, the average cropland value increased 6.9% and 6.1%, respectively, from the previous year.

However, in the Southeast and Mountain regions, cropland values decreased by 5.3% and 5.0%, respectively. The U.S. pasture value was unchanged from 2009 at $1,070 per acre.

The Southeast region had the largest percentage decrease in pasture value, 5.6% below 2009. The Northern Plains region had the highest percentage increase, 3.8% above 2009.