2017 Land Values for Idaho, Montana, and Wyoming
Posted on: Sep 7, 2017
Each year the United States Department of Agriculture National Agricultural Statistics Service releases their Land Values Summary. As part of the summary, they report values per acre of farm real estate, cropland, cropland split into irrigated and non-irrigated where applicable, pastureland, and the value of farmland and buildings.
The report divides the country into economic regions: Northeast, Lake States, Corn Belt, Northern Plains, Appalachian, Southeast, Delta States, Southern Plains, Mountain, and Pacific.
The Mountain region includes Idaho, Montana, Wyoming, Colorado, New Mexico, Utah, Nevada, and Arizona. Values of farm real estate climbed from $1,010 per acre in 2013 to $1,130 per acre in 2017. The 2017 figure represents a 1.8% increase from 2016. The changes in value across the various states that make up the Mountain region ranged from a 7.9% increase in Arizona where average values are $4,100 to a lack of change (0.0% change) in both Nevada and Wyoming where values are $1,110 and $600 per acre respectively.
Cropland values rose modestly in the Mountain region. The 2017 average value of $1,780 per acre represented a 1.1% decrease from 2016. The 2017 figure is the same as the average value in 2013.
The average value per acre for land in pasture increased by 1.3% in 2017 to $625 per acre, the highest value in the 2013 to 2017 period.
Farm real estate average value per acre increased 4.0% from 2016 to 2017, with an average value per acre statewide of $2,600. The 2017 figure is the highest in the 2013 to 2017 period.
Cropland values in Idaho increased more than the region as a large. In 2017, the average value of cropland is $3,400, a 3.0% increase from 2016. The 2017 value is a peak during the 2013 to 2017. In 2013 the average value per acre of cropland was only $2,850. The value per acre is a blend of irrigated and non-irrigated properties. The 2017 values for each were $5,150 and $1,460 per acre respectively.
Pasture values increased to $1,350 per acre, a 3.8% increase from 2016.
The 2017 average value per acre for farm real estate is $920, a 2.2% increase over the 2016 figure of $900 per acre. Values have risen steadily since 2013 when the average value per acre was $790.
Cropland values in Montana increased year-over-year from 2016 to $1,020 in 2017, a 1.0% increase. The 2017 average value is the highest in the 2013 to 2017 period. The value per acre is a blend of irrigated and non-irrigated properties. The 2017 values for each were $2,980 and $830 per acre respectively.
Pasture values increased to $660 per acre, a 1.5% increase from 2016.
The value of farm real estate has not changed since 2015. For each of the last three years the value has held steady at $660 per acre.
Cropland values in Wyoming declined in 2017. The average value of cropland is $1,350, a 1.5% decline from 2016. Values peaked at $1,370, which was the value in all three years from 2014 to 2016. The value per acre is almost entirely non-irrigated properties. The value per acre is a blend of irrigated and non-irrigated properties. The 2017 values for each were $2,170 and $760 per acre respectively – both declining values from the previous year.
Pasture values increased to $510 per acre, which is unchanged from 2015 to 2016 to 2017.
We have a number of unique and interesting farm and ranch properties available in Wyoming. Find the one that is best for you here.
Post Categories: Industry News