The U.S. farm real estate value – a measurement of the value of all land and buildings on farms – averaged $2,350/acre for 2011, up 6.8% from 2010. Regional changes in the average value of farm real estate ranged from a 15.9% increase in the Corn Belt region to a 2% decline in the Southeast region. The highest farm real estate values remained in the Northeast region at $4,690/acre. The Mountain region had the lowest farm real estate value: $923/acre.
The U.S. cropland value increased by $260/acre (9.4%) to $3,030/acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 17.2% and 16%, respectively, from the previous year. However, in the Northeast and Southeast regions, cropland values decreased by 1.3% and 1.1%, respectively.
The U.S. pasture value increased to $1,100/acre, or 1.9%, above 2010. The Southeast region had the largest percentage decrease in pasture value, 8.4% below 2010. The Corn Belt and Northern Plains regions had the highest percentage increase, both 6.6% above 2010.