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United StatesDepartment ofAgriculture

NationalAgriculturalStatisticsService

Sp Sy 3 (08)

Land Values andCash Rents2008 Summary

August 2008

Land Values and Cash Rents 2008 Summary Agricultural Statistics Board

August 2008 1 NASS, USDA



Table of ContentsPage

Agricultural Land Values Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Agricultural Land Values Charts and Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 U. S. Average Farm Real Estate Value, Dollars per Acre, 1999-2008 2008 Farm Real Estate Value by State U. S. Average Cropland Value, Dollars per Acre, 1999-2008 2008 Cropland Value by State U. S. Average Pasture Value, Dollars per Acre, 1999-2008 2008 Pasture Value by State

Farm Real Estate: Average Value per Acre, by Region and State, January 1, 2004-2008 . . . . . . . . . . . . . . . . . . . . . 6

Cropland: Average Value per Acre, by Region and State, January 1, 2004-2008 . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Irrigated and Non-Irrigated Cropland: Average Value per Acre, by State, January 1, 2004-2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Pasture: Average Value per Acre, by Region and State, January 1, 2004-2008 . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Farm Real Estate: Value of Farmland and Buildings, by Region and State, January 1, 2003-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Agricultural Cash Rents Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Agricultural Cash Rent Charts and Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 U. S. Average Cropland Cash Rent, Dollars per Acre, 1999-2008 2008 Cropland Cash Rent by State U. S. Average Pasture Cash Rent, Dollars per Acre, 1999-2008 2008 Pasture Cash Rent by State

Cropland Rented for Cash: Average Cash Rent per Acre, by Region and State, 2004-2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Pasture Rented for Cash: Average Cash Rent per Acre, by Region and State, 2004-2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Economic Regions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Reliability of Data in this Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19





Agricultural Land Values Highlights

Farm real estate values, a measurement of the value of all land and buildings on farms, averaged $2,350 peracre on January 1, 2008, up 8.8 percent from 2007. The $2,350 per acre is a record high and $190 more thana year earlier.

Both cropland and pasture values for 2008 are record highs. Cropland values rose by 10 percent to $2,970per acre, up from the previous high of $2,690 in 2007. Pasture value rose by 6 percent to $1,230 per acre.

While commercial and residential development has slowed in many regions, farm real estate values continueto increase. Strong commodity prices and farm programs, outside investments, favorable interest rates, andtax incentives continue to be the factors that drive farm real estate values to record levels. Livestock prices,recreational use, and urban development remain the predominant influences that increase pasture land values.

Regional increases in the average value of farm real estate ranged from 1.6 percent in the Northeast region to15.5 percent in the Northern Plains region. The highest farm real estate values remained in the Northeastregion, where development pressure continued to push the average value to $5,080 per acre. The NorthernPlains region had the lowest farm real estate value, at $1110 per acre, up 15.5 percent from the previous year.In the Corn Belt region cropland values rose 14.8 percent, to $4,260 per acre. The Southern Plains region increased 12 percent from the previous year, to $1,490 per acre.

The Northern Plains region also had the highest average percentage increase in pasture value, 19.7 percentabove 2007. In the Southern Plains and Mountain regions, which account for more than half of the pasture inthe U.S., pasture values per acre increased 17.1 percent and 6.4 percent, respectively.





Farm Real Estate: Average Value per Acre, by Regionand State, January 1, 2004-2008 1

Region and State 2004 2005 2006 2007 2008 Change07-08

Dollars Dollars Dollars Dollars Dollars Percent

Northeast: CT DE ME MD MA NH NJ NY PA RI VTLake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 2

CO ID MT NV 2

NM 2

UT 2

WYPacific: CA OR WA

48 States 3

3,55010,200

6,0001,8505,7009,9003,2509,7501,7803,650

10,2002,1502,2202,9201,8002,5002,3002,6102,7702,2001,5802,930

632715825455500

2,5602,0003,3002,5003,2001,5002,4201,8603,1002,3502,1501,5801,6501,5801,480

832745855550

1,600775

1,360410500265

1,150315

2,4803,8001,2501,530

1,360

4,11010,800

8,4001,9507,900

10,5003,450

10,5001,9204,220

11,2002,3002,5203,1502,1002,8502,7203,3303,1402,6501,7903,180

735850940505605

3,1102,5003,9402,8504,0501,9503,5302,4005,4003,2002,4001,7901,8701,7701,6901,000

9001,030

6982,330

9401,750

510650360

1,460370

3,1205,0901,3501,650

1,650

4,55011,40010,200

2,0508,900

11,6003,700

10,9002,0504,790

12,5002,4502,8403,5002,4003,2003,0503,8003,6302,9301,9803,490

840940

1,090575710

3,4602,7504,2503,0704,9002,1504,4202,7507,2803,9002,6001,9502,0501,9001,8501,190

9701,250

9513,0501,1002,440

800900520

2,070450

3,2905,3901,4201,750

1,900

5,00011,70010,400

2,1509,250

11,8004,000

11,3002,2205,670

12,5002,7003,3003,9502,7803,8003,4504,3304,0003,4002,2803,800

9611,0901,230

650820

3,8202,8504,6003,4005,7002,5004,8203,1007,5704,5002,9002,1802,3002,1202,0801,4001,0801,4801,1203,4001,2502,830

9601,100

6102,550

5603,6706,0001,6501,900

2,160

5,08011,500

9,9002,1009,100

12,2003,900

11,3002,4005,800

12,0002,8503,5804,1503,1004,0703,9105,0004,4504,0002,4504,1501,1101,1701,460

765990

4,0203,0004,8003,6505,9002,7004,9603,5007,6004,5003,0502,3602,5002,3002,2301,5501,1501,6901,2103,5001,3002,9501,1001,150

6302,750

6703,9906,5001,8002,090

2,350

1.6 -1.7 -4.8 -2.3 -1.6

3.4 -2.5

0.08.12.3

-4.05.68.55.1

11.57.1

13.315.511.317.6

7.59.2

15.57.3

18.717.720.7

5.25.34.37.43.58.02.9

12.90.40.05.28.38.78.57.2

10.76.5

14.28.02.94.04.2

14.64.53.37.8

19.68.78.39.1

10.0

8.8

See page 18 for definition of Regions. 1

Excludes American Indian Reservation Land. 2

Excludes Alaska and Hawaii. 3





Cropland: Average Value per Acre, by Regionand State, January 1, 2004-2008 1

Region and State 2004 2005 2006 2007 2008Change07-08


Northeast: DE MD NJ NY PA Oth Sts 2

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 3

CO ID MT NV 3

NM 3

UT 3

WYPacific: CA OR WA

48 States 4

3,8005,7005,6009,9001,4703,7006,2302,0302,5501,6902,3502,4502,7002,7502,3201,6902,940

783705

1,290490747

2,6702,2303,1502,4203,3002,2002,4601,8003,8102,2601,8501,2701,2901,3001,210

902697981

1,2006,4001,0601,710

5481,9501,4502,900

9723,5706,0201,6901,510

1,770

4,3908,0007,600

10,5001,5304,2806,6102,2702,7501,9502,6002,8803,3703,1502,7701,8903,230

916849

1,470546907

3,0402,5003,4502,6504,1003,3003,6602,4507,2202,7502,0501,4601,4601,5101,4101,010

8461,0701,4209,0001,1702,080

6522,3001,5303,0601,0704,6208,2301,8001,610

2,110

5,0409,8008,800

11,2001,8205,1107,0702,5503,0002,1803,0003,2403,8503,6703,1102,0903,5401,040

9261,690

6101,0903,4702,9003,6102,9205,3003,5004,5502,9508,7703,7302,1501,6001,5801,6301,5901,160

8901,2601,730

10,5001,3202,800

8552,9001,7203,6501,1854,8508,6201,9401,660

2,390

5,4509,9009,100

11,9001,9206,0007,2602,9503,4502,5003,520

*3,7104,4604,050

*3,6302,4503,9201,1701,0201,890

6701,2503,8303,0503,9503,3506,0003,9005,1503,4009,4804,4402,5001,7801,7201,8401,8101,330

9791,470

*1,86010,800

1,4003,150 *9303,1001,8304,0801,3305,4509,7802,1801,750

*2,690

5,9009,4008,900

11,7002,2007,1007,4103,2503,7002,8203,8104,2605,3204,5504,3102,6604,2501,3901,1802,270

8001,5004,0603,2604,1403,6006,3004,1005,4203,9009,4104,7702,7001,9101,8202,0301,9401,4901,1101,6401,940

11,5001,4703,300

9453,1501,9803,9901,4105,6009,9602,2601,890

2,970

8.3 -5.1 -2.2 -1.714.618.3

2.110.2

7.212.8

8.214.819.312.318.7

8.68.4

18.815.720.119.420.0

6.06.94.87.55.05.15.2

14.7 -0.7

7.48.07.35.8

10.37.2

12.013.411.6

4.36.55.04.81.61.68.2

-2.26.02.81.83.78.0

10.4

* Revised.See page 18 for definition of Regions. 1

Includes: CT, ME, MA, NH, RI, and VT. 2







Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, January 1, 2004-2008 1

Region, State,and Land Type

2004 2005 2006 2007 2008 Change07-08


Corn Belt: MO All Cropland Irrigated Non-Irrigated

Northern Plains: KS All Cropland Irrigated Non-Irrigated

NE All Cropland Irrigated Non-Irrigated

SD All Cropland Irrigated Non-Irrigated

Southeast: FL All Cropland Irrigated Non-Irrigated

GA All Cropland Irrigated Non-Irrigated

Delta States: AR All Cropland Irrigated Non-Irrigated

LA All Cropland Irrigated Non-Irrigated

MS All Cropland Irrigated Non-Irrigated

Southern Plains: OK All Cropland Irrigated Non-Irrigated

TX All Cropland Irrigated Non-Irrigated

1,6902,2501,650

7051,110

665

1,2901,7501,050

7471,080

740

3,8104,4002,850

2,2602,1002,300

1,2901,4501,150

1,3001,1501,340

1,2101,2801,190

697850690

9811,050

965

1,8902,4701,850

8491,240

810

1,4701,9401,230

9071,240

900

7,2208,0506,100

2,7502,7502,750

1,4601,6401,320

1,5101,3601,550

1,4101,4601,400

846990840

1,0701,1501,060

2,0902,7502,050

9261,300

890

1,6902,1501,450

1,0901,4601,080

8,7709,5507,900

3,7303,6503,750

1,5801,7301,460

1,6301,4101,680

1,5901,5501,600

8901,160

880

1,2601,3601,240

2,4502,9502,420

1,0201,410

980

1,8902,4001,640

1,2501,7001,240

9,48010,500

8,500

4,4403,7004,600

1,7201,9001,580

1,8401,6001,900

1,8101,8401,800

9791,250

970

1,4701,6301,440

2,6603,1702,630

1,1801,6601,130

2,2702,9001,950

1,5001,9701,490

9,41010,500

8,500

4,7703,7505,000

1,8201,9801,700

2,0301,7402,100

1,9402,1201,900

1,1101,4001,100

1,6401,8301,620

8.67.58.7

15.717.715.3

20.120.818.9

20.015.920.2

-0.70.00.0

7.41.48.7

5.84.27.6

10.38.8

10.5

7.215.2

5.6

13.412.013.4

11.612.312.5

--continued





Irrigated and Non-Irrigated Cropland: Average Value per Acre,by State, 2004-2008 (continued)1 2


2004 2005 2006 2007 2008 Change07-08


Mountain: AZ All Cropland Irrigated

CO All Cropland Irrigated Non-Irrigated

ID All Cropland Irrigated Non-Irrigated

MT All Cropland Irrigated Non-Irrigated

NV All Cropland Irrigated

NM All Cropland Irrigated Non-Irrigated

UT All Cropland Irrigated Non-Irrigated

WY All Cropland Irrigated Non-Irrigated

Pacific: CA All Cropland Irrigated Non-Irrigated

OR All Cropland Irrigated Non-Irrigated

WA All Cropland Irrigated Non-Irrigated

6,4006,400

1,0602,100

580

1,7102,330

800

5481,680

400

1,9501,950

1,4503,000

270

2,9003,800

850

9721,300

340

6,0206,6002,130

1,6902,3501,250

1,5103,300

990

9,0009,000

1,1702,500

650

2,0803,000

900

6522,000

490

2,3002,300

1,5303,500

350

3,0604,4001,050

1,0701,600

400

8,2309,3702,690

1,8002,5801,360

1,6103,5501,060

10,50010,500

1,3202,900

800

2,8004,3001,140

8552,800

640

2,9002,900

1,7204,500

380

3,6505,8001,350

1,1851,900

550

8,62010,100

2,980

1,9402,9001,470

1,6603,7301,090

10,80010,800

1,4003,200

900

3,1504,9501,400

*9303,700 *650

3,1003,100

1,8305,400

420

4,0807,2001,600

1,3302,150

800

9,78011,800

3,500

2,1803,3501,700

1,7504,0001,140

11,50011,500

1,4703,5001,000

3,3005,3001,600

9453,800

680

3,1503,150

1,9806,500

500

3,9907,8201,660

1,4102,500

900

9,96012,400

3,600

2,2603,5501,800

1,8904,3501,250

6.56.5

5.09.4

11.1

4.87.1

14.3

1.62.74.6

1.61.6

8.220.419.0

-2.28.63.8

6.016.312.5

1.85.12.9

3.76.05.9

8.08.89.6

* Revised.Only States with significant irrigated acreage appear in this table. 1






Pasture: Average Value per Acre, by Regionand State, January 1, 2004-2008 1

Region and State 2004 2005 2006 2007 2008 Change07-08


Northeast: MD 2

NJ NY PA Oth Sts 3

Lake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 4

CO ID MT NV 4

NM 4

UT 4

WYPacific: CA OR WA

48 States 5

2,4705,500

10,600775

2,0004,1401,0501,800

7001,2001,2001,1101,780

8801,1302,100

279430275185240

2,2001,5303,2002,4502,8001,2802,1501,4202,2502,9502,0001,3001,3001,3501,270

624475655302500470725285260170520235

1,0201,600

470540

634

2,7707,300

11,300825

2,2004,4801,2901,950

9401,4801,4401,7201,9301,0701,3402,240

343530320220310

2,9101,9804,0003,2203,8501,6604,2001,9505,1505,6002,3001,6201,5901,6701,610

830640869395650620950370350250690280

1,1901,910

510585

761

3,0508,300

11,700890

2,4804,9601,5302,1501,1501,8001,6702,0502,0901,4001,5502,400

408640370260370

3,4402,3004,6003,5204,9001,8805,7502,1507,5007,3002,5501,8001,7701,8001,8501,030

7601,080

584750800

1,630700620275

1,160360

1,3402,160

540605

1,000

3,450

12,1001,0203,3006,3801,8002,5701,3802,1002,0102,5002,5001,8001,8202,820 *472

740 *430

300420

3,9002,6005,1003,8505,5002,1006,5002,4508,3508,1503,0002,1702,1302,1602,2301,290

9001,370

689900800

1,850850720350

1,350480

1,7302,820

630700

1,160

3,650

12,5001,2003,7006,4901,9402,8001,5502,2502,2202,8002,8002,1001,9203,400

565860530350500

4,2002,7005,2504,1005,7002,1006,4002,7008,0007,8003,1002,3002,2702,2902,3601,5101,0001,610

733950800

1,900910760370

1,350570

1,9003,050

700800

1,230

5.8

3.317.612.1

1.77.88.9

12.37.1

10.412.012.016.7

5.520.619.716.223.316.719.0

7.73.82.96.53.60.0

-1.510.2 -4.2 -4.3

3.36.06.66.05.8

17.111.117.5

6.45.60.02.77.15.65.70.0

18.89.88.2

11.114.3

6.0

* Revised.See page 18 for definition of Regions. 1

Not published due to insufficient reports. 2

Includes: CT, DE, ME, MA, NH, RI, and VT. 3







Farm Real Estate: Value of Farmland and Buildings, by Regionand State, January 1, 2003-2007 1

Region and StateTotal value of land and buildings

2003 2004 2005 2006 2007 Change06-07

Million Dollars Million Dollars Million Dollars Million Dollars Million Dollars Percent

Northeast: CT DE ME MD MA NH NJ NY PA RI VTLake States: MI MN WICorn Belt: IL IN IA MO OHNorthern Plains: KS NE ND SDAppalachian: KY NC TN VA WVSoutheast: AL FL GA SCDelta States: AR LA MSSouthern Plains: OK TXMountain: AZ 2

CO ID MT NV 2

NM 2

UT 2

WYPacific: CA OR WA

48 States 3

3,4202,1202,3988,5494,8361,3957,462

13,00526,565

5582,563

27,04144,32035,880

66,82538,65363,71744,24740,004

32,33235,57316,74520,148

26,22028,21027,84023,220

5,040

15,66429,58023,760

9,943

21,31211,77515,554

23,759105,705

10,55622,63015,10423,439

2,60311,774

8,76710,332

97,56020,64022,644

1,151,987

3,6723,1502,535

11,6855,1481,4637,995

13,52828,105

6122,688

29,49249,68038,750

71,51441,55069,74047,55842,485

33,74837,78517,92721,900

27,60029,70029,00027,360

5,400

16,27531,31025,14510,428

23,76012,40316,354

25,107111,150

10,84623,94816,04824,641

2,70611,959

9,13110,849

101,46021,50023,256

1,230,046

3,8884,3682,672

16,1165,4601,5538,295

14,49632,494

6722,875

31,81557,75043,890

90,90947,10083,74053,87945,474

40,12042,95819,89726,439

34,50034,67232,77534,425

7,020

20,64054,00033,60011,640

26,92813,80618,675

30,330133,694

13,59228,85820,65030,651

3,47515,41211,38312,728

134,37623,08524,915

1,482,690

4,1045,2532,788

18,1126,0321,6658,611

15,37536,644

7503,038

35,35065,76048,960

103,74054,45092,29559,59849,907

44,36849,81322,65531,027

37,67537,40034,99841,650

7,740

23,65072,80042,12012,610

29,31514,82020,350

32,689162,125

16,31133,77028,79248,080

4,75821,31715,81515,480

141,75724,28226,425

1,707,024

4,2125,3562,924

18,8246,1361,8008,927

16,65043,376

7503,294

39,50076,17257,760

118,20960,000

107,10068,40053,960

51,44856,08825,61035,834

39,04540,48038,76048,507

9,000

26,66075,70045,00014,065

32,89016,53622,880

36,396191,660

17,40638,37533,11157,600

5,78424,94419,30219,264

157,20028,05028,690

1,929,635

2.62.04.93.91.78.13.78.3

18.4

8.4

11.715.818.0

13.910.216.014.8

8.1

16.012.613.015.5

3.68.2

10.716.516.3

12.74.06.8

11.5

12.211.612.4

11.318.2

6.713.615.019.821.617.022.024.4

10.915.5

8.6

13.0

Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms. 1

Value of all land and buildings adjusted to include American Indian reservation land value. 2






Agricultural Cash Rents Highlights

Nationally, cash rents per acre paid to landlords for cropland rose $11.00 (13 percent), while pasture rentsincreased $1.00 (8.3 percent) for the 2008 crop and grazing year. Cropland cash rents paid in 2008 averaged$96.00 per acre, compared with $85.00 per acre for 2007. Pasture cash rents averaged $13.00 per acre,compared with $12.00 per acre for 2007. The increases in cropland and pasture land rental rates are the resultof producers receiving strong commodity prices.

The Delta region had the highest percentage increase for cropland, 21 percent above 2007. Cropland cashrents increased $14.00 per acre to $140.00 in the Corn Belt region and $6.00 per acre to $64.00 in theNorthern Plains region. The Corn Belt and Northern Plains regions account for slightly more than one half ofcash rented cropland acreage in the U.S. The major corn and soybean producing States of Illinois, Indiana, and Iowa experienced increases of 13, 13,and 18, percent respectively, for cropland cash rents. Illinois, Indiana, and Iowa cropland cash rents averaged$160.00, $135.00, and $165.00 per acre, respectively.

While pasture rent in the Northern Plains remained unchanged from the pervious year, rents in the SouthernPlains, and Mountain regions both increased by 30 cents. The Northern Plains, Southern Plains, andMountain region account for nearly 85 percent of the cash rented pasture acreage in the U.S. The cash rentpaid for pasture in the Corn Belt region increased $4.50 to $36.00 per acre, which is the highest cash rent paidfor pasture in the U.S.





Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2004-2008 1 2


2004 2005 2006 2007 2008

Dollars Dollars Dollars Dollars Dollars

Northeast: DE MD NJ NY PA

Lake States: MI MN WI

Corn Belt: IL IN IA MO Non-Irrigated OH

Northern Plains: KS Irrigated Non-irrigated NE Irrigated Non-Irrigated ND SD Non-Irrigated

Appalachian: KY NC TN VA WV

Southeast: AL FL Non-Irrigated GA Irrigated Non-Irrigated SC

Delta States: AR Irrigated Non-Irrigated LA Irrigated Non-Irrigated MS Irrigated Non-Irrigated

44.5061.0059.0047.5040.0043.00

76.2062.0083.5070.00

114.00126.00107.00126.00

76.0080.00

50.0041.0072.0037.5095.00

125.0070.0037.50

47.50

55.0072.0053.0067.0039.0030.00

44.5033.00

34.0058.00

110.0042.0028.50

68.5075.0086.0059.0066.0076.0062.0066.0085.0058.00

46.0064.0062.0047.5041.0045.00

78.0062.0086.5070.00

117.00129.00109.00131.00

79.0082.00

53.0042.0073.0038.5097.00

127.0072.0039.00

50.40

58.0073.0053.0067.0040.0028.00

48.0040.00

37.0058.00

115.0041.0029.00

70.5076.0086.0058.0066.0070.0062.0069.0093.0060.00

47.0065.0062.0047.5039.0046.50

80.0065.0088.0071.00

119.00132.00111.00133.00

79.0086.00

53.5044.0074.0039.00

101.00131.00

76.0039.00

53.00

56.0078.0052.0067.0040.0030.00

48.0039.00

39.0060.00

116.0043.0029.00

69.5076.0086.0056.0072.0081.0066.0068.0090.0062.00

48.0065.0062.0048.0039.0048.00

85.0073.0094.0072.00

126.00141.00120.00140.00

79.0091.00

58.0048.0082.0041.00

106.00139.00

79.0041.00

56.50

58.0082.0052.50

*67.0045.0030.00

50.0041.00

40.0060.00

116.0044.0029.50

72.5080.0090.0056.0071.0082.0066.0073.0092.0065.00

51.0075.0065.0050.0044.0055.00

98.0080.00

109.0085.00

140.00160.00135.00165.00

85.00103.00

64.0052.0088.0045.00

123.00155.00

95.0045.00

65.00

58.0082.0055.0065.0045.0031.00

57.0041.00

40.0065.00

125.0048.0032.50

88.0085.0094.0061.0077.0097.0067.0087.00

103.0077.00

See footnote(s) at end of table. --continued





Cropland Rented for Cash: Average Cash Rent per Acre,by Region and State, 2004-2008 (continued)1 2


2004 2005 2006 2007 2008


Southern Plains: OK Non-Irrigated TX Irrigated Non-Irrigated

Mountain: AZ Irrigated CO Irrigated Non-Irrigated ID Irrigated Non-Irrigated MT Irrigated 3

Non-Irrigated UT Irrigated

Pacific: CA Irrigated OR Irrigated Non-Irrigated WA Irrigated

48 States 4

30.50

30.0029.8056.0023.70

62.50

150.0058.0091.0022.0099.00

118.0053.0024.5049.0018.90

61.00

180.00

300.00100.00125.00

65.00

185.00

76.50

30.50

29.0029.7057.5023.00

62.00

165.0061.00

100.0023.00

104.00124.00

55.0025.0053.0019.50

65.00

185.00

330.00100.00130.00

70.00

190.00

78.00

29.00

28.0028.0050.0023.00

65.00

180.0061.00

100.0023.00

108.00128.00

58.0028.0068.0020.00

60.00

192.00

320.00100.00135.00

70.00

200.00

79.50

29.50

27.0030.0053.0023.00

78.00

170.0059.00

100.0022.00

109.00130.00

58.0028.50

19.50

62.00

210.00

340.00100.00135.00

72.00

210.00

85.00

34.00

29.0032.0055.0025.00

86.00

180.0062.00

115.0024.00

130.00150.00

55.0029.00

21.10

65.00

230.00

360.00110.00145.00

75.00

230.00

96.00

* Revised.Unless otherwise specified as irrigated or non-irrigated, data are for all cropland. 1








Pasture Rented for Cash: Average Cash Rent per Acre,by Region and State, 2004-2008 1

Region and State 2004 2005 2006 2007 2008


Northeast: PA 2

Lake States: MN WI

Corn Belt: IL IA MO

Northern Plains: KS NE ND SD

Appalachian: NC TN VA

Southeast: AL FL GA

Delta States: LA MS

Southern Plains: OK TX

Mountain: CO MT NM UT WY

Pacific: CA

48 States 3

24.0025.00

24.5019.5037.00

29.0034.0032.5026.00

11.8013.2012.0010.2011.60

19.1023.0019.0017.50

19.1018.0017.5024.00

16.6015.5016.50

8.109.007.80

3.603.705.001.70

10.004.00

13.5011.50

9.60

24.0027.00

26.9020.5038.00

30.5034.5036.0027.00

12.0013.4012.0010.6012.30

21.0025.0018.0020.00

19.0017.5018.5022.00

17.0016.5016.50

8.409.008.30

3.804.305.901.809.004.00

13.5012.00

10.30

26.0025.00

28.0019.0038.00

31.0034.0038.0026.00

12.5013.7012.5011.3012.90

22.0025.0019.0020.00

20.0018.5022.0025.00

17.5019.0016.00

8.208.508.10

4.004.005.002.00

11.004.50

14.5013.00

10.80

31.00

30.0019.0040.00

31.5035.0039.0026.00

14.0014.5014.0012.5013.80

22.3027.0020.0021.00

22.3019.5024.0025.00

19.5023.0018.00

8.809.508.30

6.205.506.502.00

12.004.50

17.3014.00

12.00

31.50

33.0021.0043.00

36.0040.0042.0029.00

14.0015.5014.2013.4015.90

23.0029.0022.0022.00

22.0019.0025.0030.00

28.0028.0019.50

9.1010.00

8.70

6.505.007.503.00

14.007.00

18.0015.00

13.00








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 theJune Area Survey, conducted during the first 2 weeks of June. This annual survey uses a complete,probability-based land-area sampling frame. In 2008, the survey included a stratified sample of 10,912 landareas (segments), averaging approximately 1 square mile in size.

Enumerators collecting data for the June area survey contact all agricultural producers operating land withinthe boundaries of the sampled land segments and record land value information for crop and pasture landwithin these segments. They also collect an estimated value of all land and buildings for the operator’s entirefarming 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 rentpaid.

Survey reported data are reviewed for reasonableness and consistency by comparing with other data reportedin 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 thesummarized indications and any other available information for their State. FOs then set estimates for landvalues and cash rents and submit these recommendations along with their assessment of survey and otheradministrative information to the Agricultural Statistics Board (ASB).

Survey data are also summarized for Regional and National levels and reviewed independently of each State’sreview. National and Regional targets are established by the ASB. After FO recommendations are submitted,the ASB reviews the FO estimates and supporting comments, and any conflicts with targeted Regional andNational levels are resolved.

The State estimates are weighted by the amount of cropland and pasture in each state, based on the mostrecent 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 variabilityof the survey item’s reported data.

Revision Policy: For non-census years, land value and cash rent estimates are subject to an annual revisionthe following year. After the 5-year Census of Agriculture is completed, estimates for the non-census yearsare subject to a final historic revision. The basis for revision must be supported by additional data thatdirectly affect the level of the estimate.





Reliability: The June Area Survey from which land value and cash rent estimates are made is subject tosampling and non-sampling errors that are common to all surveys. Both types of error affect the "accuracy" ofthe estimates. Sampling error occurs because a complete census is not taken. The sampling error measuresthe variation in estimates from the average of all possible samples. An estimate of 100 with a sampling errorof 1.0 would mean that chances are 19 out of 20 (95 percent confidence interval) that the estimates from allpossible samples averaged together would be between 98 and 102 (the survey indication plus or minus twotimes the sampling error).

The sampling errors from the 2008 area frame survey are listed below:

U.S. Regions (range low to high)Farm Real Estate Value (%) 6.8 1.4 to 34.4All Cropland Value (%) 1.4 1.5 to 8.6 Irrigated Cropland (%) 3.8 1.8 to 10.5 Non-irrigated Cropland (%) 2.5 1.6 to 20.1Pasture Value (%) 4.4 2.4 to 16.3Cropland Cash Rent (%) 1.1 0.6 to 11.1Pasture Cash Rent (%) 2.9 2.4 to 21.1

Sampling errors cannot be applied directly to the values published in this report to determine confidenceintervals 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 samplesurveys. They are caused by the inability to obtain correct information from each person sampled, differencesin interpreting questions or definitions, and mistakes in coding or processing data. To minimizenon-sampling errors, vigorous quality controls are used in the data collection process and all data are carefullyreviewed for consistency and reasonableness.

Released August 4, 2008, by the National Agricultural Statistics Service (NASS), Agricultural StatisticsBoard, U.S. Department of Agriculture. For information on Land Values and Cash Rents 2008 Summary callScott Shimmin at (202) 690-3231, office hours 7:30 a.m. to 4:00 p.m. ET.

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