Colorado Farm Land Values & Rents 2017
Posted on: Sep 20, 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.
In Colorado, 31.7 million acres are considered to be in farms as of 2017 according to the USDA. Across the state, the average size of a farm operation was 937 acre.
Farm real estate average value per acre increased 0.7% from 2016 to 2017, with an average value per acre statewide of $4,100. The 2017 figure is the highest in the 2013 to 2017 period.
Cropland values in Colorado increased less than the region as a large. In 2017, the average value of cropland is $1,920, a 0.5% 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 $1,770. The value per acre is a blend of irrigated and non-irrigated properties. The 2017 values for each were $4,600 and $1,260 per acre respectively. Average cash rent per acre for irrigated cropland in Colorado is $143 in 2017, $1.00 more than in 2016. Average cash rent for non-irrigated cropland in Colorado is $30.00 per acre in 2017, also up $1.00 from the previous year.
Pasture values have not been reported in any of the years in the 2013 to 2017. They are withheld to avoid disclosing data for individual operations according to the summary. In 2017, cash rent for pasture statewide averaged $5.60 per acre, down from $5.80 in 2016.
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