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AGRICULTURAL LAND VALUES

KANSAS AGRICULTURAL STATISTICS
Kansas Department of Agriculture
PO Box 3534
Topeka, KS 66601-3534
Phone: 785-233-2230

Released: March 31, 2000


KANSAS AGRICULTURAL LAND VALUES, 2000

Kansas' average value of all farmland and buildings for 2000 is estimated to be $590, 1999 was $580, and 1998 value was $577. Since 1992, values for all farmland have shown annual increases. Kansas' farmland values increased 1.7 percent between 1999 and 2000. The 1.7 percent increase in Kansas land value compares to a 2.9 percent nationwide increase estimated by the U.S. Department of Agriculture.

Table 1-- KANSAS FARMLAND VALUES AND RENTS, 1990-99 1/
Year Cropland Pasture
and
Rangeland 		All Farmland
and
Buildings
Value Per Acre Rent Per Acre
Irrigated Non- Irrigated All Crop Land Irrigated Non- Irrigated Value
Per Acre 		Rent
Per Acre 		Value
Per Acre 		Total
Value
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Mil. Dol.
1990 833 501 527 61.50 33.10 278 11.50 450 21,555
1991 773 477 524 60.60 32.50 283 11.60 449 21,507
1992 792 513 535 62.70 31.90 292 12.00 460 21,988
1993 788 516 538 65.10 32.80 296 12.80 463 22,085
1994 873 549 597 69.20 32.60 341 12.20 503 23,943
1995 920 595 623 2/ 35.50 343 11.70 535 25,466
1996 966 607 638 66.30 32.70 361 11.90 553 26,268
1997 990 615 649 69.00 34.50 365 11.60 565 26,838
1998 1,010 620 655 67.00 35.50 367 13.00 577 27,408
1999 1,020 623 659 66.00 35.00 370 13.30 580 27,550
2000 1,030 630 666 3/ 3/ 375 3/ 590 4/
1/ Values per acre are for land and buildings. Rental rates are for land only. 2/ Insufficient data to publish.
3/ Cash rents for 2000 not yet established. 4/ Total land in farms not yet available.

THE LAND VALUES SURVEY--BACKGROUND

The Agricultural Land Values Survey was conducted during May/June 1999. The questionnaire asked respondents to provide information on the value of the land they operate and the rental rates for any land they rented. Additional land values and rents data was collected in the June and December Agricultural Surveys.

The Census provides the official base for estimates of all farmland values. However, the Census takes place once every five years and covers agricultural land on an overall basis only. The Land Values Survey and Agricultural Surveys provide data to make annual estimates of both market values and rental rates for different categories of farmland.

The average values in this report encompass a wide range of soil types and pastures. These data are more appropriate for studying overall trends and should not be used to establish rental rates or market values.

FARMLAND VALUES -- U.S. AND KANSAS

The U.S. farm real estate value, including all land and buildings, averaged $1,050 per acre on January 1, 2000, up 2.9 percent from January 1, 1999. The $30 per acre increase in farm real estate value during 1999 continued the climb that began in 1987. However, the 2.9 percent increase is the smallest percentage gain since 1992.

In Kansas, 2000 marks the ninth straight annual increase in all farmland value. The all farmland value estimated for Kansas in 2000 is $590, up 1.7 percent from 1999. The 2000 value still falls short of the record set in 1982 at $628 per acre. Figure 1, below shows the comparison of the Kansas value versus the U.S. value. The trends tend to follow the same course.

Table 2
Year Kansas U.S.
1990 450 683
1991 449 703
1992 460 713
1993 463 736
1994 503 798
1995 535 844
1996 553 887
1997 565 926
1998 577 974
1999 580 1,020
2000 590 1,050

DISTRICT LEVEL AGRICULTURAL LAND VALUES

Kansas district level values for all farmland experienced increases across the State (see table 3). From 1999 to 2000, three districts show slight increases, while six show moderate increases. The percentage changes range from a 2.0 percent increase in the southwest district to a .8 percent increase in the south central district (see figure 2).

Table 4 on the following page shows the average rental rates for farmland in Kansas for 1998 and 1999.

Table 3-- AVERAGE VALUES PER ACRE OF FARMLAND AND BUILDINGS


KANSAS AGRICULTURAL STATISTICS DISTRICTS, 1998, 1999, AND 2000 1/
Dist. All
Cropland 		Non-Irrigated
Cropland 		Irrigated
Cropland 		Pasture All
Farmland
1998 1999 2000 1998 1999 2000 1998 1999 2000 1998 1999 2000 1998 1999 2000
NW 585 585 590 525 520 525 1,090 1,110 1,120 230 225 230 490 510 515
WC 460 465 470 435 440 445 820 825 835 230 230 220 410 415 420
SW 560 560 570 420 420 430 930 935 945 215 220 225 490 490 500
NC 625 635 645 600 610 620 1,340 1,350 1,365 340 350 355 550 560 570
C 605 620 630 590 600 610 1,140 1,190 1,200 375 385 390 560 570 580
SC 695 700 700 645 650 650 1,130 1,140 1,145 320 315 325 590 610 615
NE 915 930 940 910 925 935 1,400 1,430 1,445 575 590 595 830 825 835
EC 940 945 955 935 940 950 1,300 1,350 1,370 575 570 575 800 790 800
SE 735 725 730 735 725 730 1,100 1,130 1,130 445 450 455 590 585 595
KS 655 659 666 620 623 630 1,010 1,020 1,030 367 370 375 577 580 590
1/    All values are for land and buildings.

Table 4-- AVERAGE RENTAL RATES FOR CROPLAND AND PASTURE IN KANSAS
CASH RENT PER ACRE by District & Region - 1998 & 1999
District/Region 1998 1999
Non-Irrig.
Cropland 		Irrig.
Cropland 		Pasture Non-Irrig.
Cropland 		Irrig.
Cropland 		Pasture
Northwest 31 .00 66 .00 9 .50 30 .00 67 .00 10 .00
West Central 27 .00 65 .00 9 .20 29 .00 64 .00 9 .00
Southwest 23 .00 67 .00 8 .60 26 .00 66 .00 9 .00
    West Region 26 .60 66 .60 9 .10 28 .10 66 .00 9 .30
North Central 40 .00 75 .00 13 .50 39 .00 75 .00 14 .00
Central 36 .00 65 .00 12 .70 35 .00 64 .00 13 .00
South Central 35 .00 69 .00 11 .80 32 .00 68 .00 11 .00
    Central Region 36 .90 69 .40 12 .60 35 .10 68 .60 12 .60
Northeast 55 .00 75 .00 16 .50 59 .00 80 .00 16 .00
East Central 39 .00 67 .00 16 .80 39 .00 1/ 18 .00
Southeast 35 .00 67 .00 16 .50 37 .00 1/ 17 .30
    East Region 42 .40 69 .80 16 .60 44 .30 71 .50 17 .30
State 35 .50 67 .00 13 .00 35 .00 66 .00 13 .30
1/ Insufficient data to publish district-level data; they are included in State total.

Table 5-- PERCENTAGE CHANGE IN FARMLAND VALUE, 1999 TO 2000

Kansas Agricultural Statistics Districts
Northwest
1.0% 		North Central
1.8% 		Northeast
1.2% 1/
West Central
1.2% 		Central
1.8% 		East Central
1.3% 1/
Southwest
2.0% 		South Central
0.8% 1/ 		Southeast
0.7%



Dan Kolterman, Agricultural Statisticians
Dona Ratliff, Research Analyst
Eldon J. Thiessen, State Statistician
Eddie Wells, Deputy State Statistician

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