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AGRICULTURAL LAND VALUES

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

Released: August 13, 2001

KANSAS AGRICULTURAL LAND VALUES, 2001

The average value of all farmland and buildings in Kansas for 2001 increased 2.5 percent from last year to $605 per acre (see table 1). This compares to last year's value of $590 per acre and the 1999 value of $580. All farmland values have increased each year since 1991 when the value was $449.

Values for both irrigated and non-irrigated cropland increased in value over the last year with irrigated value at $1,080 per acre, up $50 per acre, and non-irrigated value at $640 per acre, up $10 per acre. Rental rates for irrigated and non-irrigated land also increased with irrigated rental at $72 per acre, up $5 per acre from last year, and non-irrigated rental at $36 per acre, up 50 cents per acre.

Pasture and rangeland values also increased from 2000 to $390 per acre, up from a value of $375. Rental rates for pastureland and rangeland declined slightly from last year to $12.60 per acre.

The overall value of all farmland and buildings in Kansas was more than $28.7 billion. This is an increase of over $700 million from last year's total value.

Table 1-- KANSAS FARMLAND VALUES AND RENTS, 1991-2001 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.
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 67.00 35.50 375 12.80 590 28,025
2001 1,080 640 680 72.00 36.00 390 12.60 605 28,738
1/ Values per acre are for land and buildings. Rental rates are for land only. 2/ Insufficient data to publish.


UNITED STATES FARMLAND VALUES

The U.S. farm real estate value, including all land and buildings, averaged $1,130 per acre on January 1, 2001, up 4.6 percent from January 1, 2000. The $50 per acre increase in farm real estate value during 2000 continued the climb that began in 1987. The overall increase was driven by cropland and pasture land which rose 3.4 and 4.4 percent respectively.


AVERAGE VALUES PER ACRE, ALL FARMLAND AND BUILDINGS

U.S. AND KANSAS, 1991 - 2001

Table 2
Year Kansas U.S.
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 1,080
2001 605 1,130

THE LAND VALUES SURVEY--BACKGROUND

The Agricultural Land Values Survey was conducted during May/June 2001. 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 Agricultural Survey.

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 Survey 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.


For more information on land values at the national and regional level, contact Kansas Agricultural Statistics Service or check the world wide web at http://www.nass.usda.gov/ks/ for regional data or at www.usda.gov/nass/pubs/rpts003.htm for national data.


DISTRICT LEVEL AGRICULTURAL LAND VALUES

Kansas district level values for all farmland experienced increases across the State (see table 3). From 2000 to 2001, four districts show increases of less than 2.0 percent, three districts increased from 2.0 to 2.5 percent, and in two districts, values increased by more than 4.0 percent. The percentage changes range from a 0.9 percent increase in the central and north central districts to a 5.9 percent increase in the southeast district (see figure 2).

Table 4 on the following page shows the average rental rates for farmland in Kansas for 2000 and 2001.

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


KANSAS AGRICULTURAL STATISTICS DISTRICTS, 1999, 2000, AND 2001 1/
Dist. All
Cropland 		Non-Irrigated
Cropland 		Irrigated
Cropland 		Pasture All
Farmland
1999 2000 2001 1999 2000 2001 1999 2000 2001 1999 2000 2001 1999 2000 2001
NW 585 590 610 520 525 550 1,110 1,120 1,125 225 230 250 510 515 525
WC 465 470 480 440 445 450 825 835 850 230 220 225 415 420 425
SW 560 570 580 420 430 435 935 945 970 220 225 230 490 500 510
NC 635 645 650 610 620 620 1,350 1,365 1,440 350 355 360 560 570 575
C 620 630 630 600 610 610 1,190 1,200 1,270 385 390 390 570 580 585
SC 700 700 730 650 650 665 1,140 1,145 1,300 315 325 335 610 615 630
NE 930 940 960 925 935 955 1,430 1,445 1,575 590 595 610 825 835 870
EC 945 955 975 940 950 965 1,350 1,370 1,550 570 575 600 790 800 820
SE 725 730 740 725 730 740 1,130 1,130 1,175 450 455 495 585 595 630
KS 659 666 680 623 630 640 1,020 1,030 1,080 370 375 390 580 590 605
1/    All values are for land and buildings.

Table 5- - PERCENTAGE CHANGE IN FARMLAND VALUE, 2000 TO 2001

Kansas Agricultural Statistics Districts
Northwest
1.9% 		North Central
0.9% 		Northeast
4.2% 1/
West Central
1.2% 		Central
0.9% 		East Central
2.5% 1/
Southwest
2.0% 		South Central
2.4% 1/ 		Southeast
5.9% 1/

1/ These districts are influenced by farmland around larger cities that have higher values because of the opportunity for development. This is the sixth year these data have been included in the district totals.


Table 4-- AVERAGE RENTAL RATES FOR CROPLAND AND PASTURE IN KANSAS
CASH RENT PER ACRE by District & Region - 2000 & 2001
District/Region 2000 2001
Non-Irrig.
Cropland 		Irrig.
Cropland 		Pasture Non-Irrig.
Cropland 		Irrig.
Cropland 		Pasture
Northwest 32.00 68.00 10.00 32.50 74.00 9.70
West Central 29.00 1/ 9.30 32.00 68.00 9.20
Southwest 25.00 66.00 8.50 25.50 72.00 8.50
    West Region 28.30 66.00 9.20 29.60 71.90 9.10
North Central 40.00 76.00 13.50 39.00 79.00 13.60
Central 35.00 65.00 12.00 34.00 65.00 12.30
South Central 33.00 68.00 10.90 33.00 72.00 11.10
    Central Region 35.80 68.90 12.10 35.20 72.10 12.30
Northeast 59.00 1/ 15.40 62.00 85.00 15.20
East Central 42.00 1/ 16.90 41.00 1/ 17.00
Southeast 36.00 1/ 16.40 37.00 1/ 15.50
    East Region 44.90 1/ 16.40 45.90 73.90 16.00
State 35.50 67.00 12.80 36.00 72.00 12.60
1/ Insufficient data to publish district-level data; they are included in State total.

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

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