x(1125).png?194640230 "U.S.: Farm Real Estate Values, by year"){kind=logo}
| Year | Value per acre, in USD |
|---|---|
| 2023 | 4,080 |
| 2022 | 3,800 |
| 2021 | 3,380 |
| 2020 | 3,160 |
| 2019 | 3,160 |
| 2018 | 3,100 |
| 2017 | 3,030 |
| 2016 | 2,990 |
| 2015 | 3,000 |
| 2014 | 2,940 |
| 2013 | 2,730 |
| 2012 | 2,520 |
| 2011 | 2,300 |
| 2010 | 2,150 |
| 2009 | 2,090 |
| 2008 | 2,170 |
| 2007 | 2,010 |
| 2006 | 1,830 |
| 2005 | 1,610 |
| 1970 | 196 |
- Source: US Department of Agriculture; Economic Research Service - Average value of U.S. farm real estate
- Region: United States
- Time period: 1970 to 2023
- Published: Aug 2023
Data Analysis and Insights
Overall Increase in Value
Farm real estate value per acre in the United States has seen a significant increase, from $196 in 1970 to $4,080 in 2023, marking a growth of over 20 times in a span of 53 years.Recent Growth Trends
The most recent years have witnessed a rapid acceleration in value, with a jump of $280 per acre from 2022 to 2023 alone, compared to a $220 increase from 2021 to 2022.Decade Comparison
Comparing decades, the increase from 2010 to 2020 ($1,010 per acre) outpaces the growth observed from 2000 to 2010, illustrating a notable acceleration in value appreciation over the last decade.Largest Year-over-Year Increase
The period from 2022 to 2023 showcased the largest year-over-year increase in value per acre at $280, highlighting a recent surge in farm real estate values.Stability in the Late 2010s
Farm real estate values experienced a period of relative stability between 2019 and 2020, with no change in the value per acre, remaining constant at $3,160.Recovery and Growth Post-2008
After a slight decline in 2009 to $2,090 from $2,170 in 2008, values consistently increased each year, demonstrating resilience and steady growth post the 2008 financial crisis.Early 2000s Acceleration
The early 2000s marked a period of significant growth, with values more than doubling from $1,610 in 2005 to $3,160 in 2020, reflecting the increasing value of agricultural land in the U.S. economy.Historical Growth Since 1970
Since 1970, the farm real estate value per acre has grown consistently, with an especially notable increase post-2000, indicating a long-term upward trend in the valuation of farm real estate.Frequently Asked Questions
What has been the increase in farm real estate value per acre from 2020 to 2023?
The farm real estate value per acre in the US increased by $920 from 2020 to 2023.
What was the value per acre of farm real estate in 2013 and how much did it increase by 2023?
The value per acre in 2013 was $2730, which increased to $4080 by 2023.
How has the value per acre of farm real estate changed from 1970 to 2023?
From 1970 to 2023, the value per acre increased over 20-fold, from $196 to $4080.
What was the growth rate of farm real estate value per acre from 2021 to 2023?
The value per acre increased from $3380 in 2021 to $4080 in 2023, representing a 20.7% growth.
Terms and Definitions
Farm real estate is the land and improvements that are directly associated with agricultural activities. This includes the combined value of land and structures such as barns, sheds, houses, and other farm buildings.
Value, in an economic context, refers to the worth of goods, services or property. It can be determined by various factors such as supply, demand, inherent qualities, or potential income generated. In this context, "value" refers to the monetary worth of farm real estate.
Per acre means for each acre of land. An acre is a unit of land area used in the imperial and U.S. customary systems, approximately equivalent to 0.405 hectares. In the real estate market, it's commonly used to compare the value or cost of land.
Agricultural activities refer to the practice of farming, which includes the cultivation of plants and the rearing of animals. This can involve anything from crop production and livestock farming to dairy production and poultry farming.
The real estate market refers to the buying, selling, and renting of property, including agricultural land. It involves numerous factors, including economic conditions, interest rates, population growth, and government regulations, which all together help determine the value of properties.
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