COLUMBUS — Ohio’s farm real estate value, including all land buildings, averaged $4,300 per acre for 2011, up 7.5 percent from 2010, according to the Ohio office of the USDA’s National Agricultural Statistics Service.
The increase for 2011 was driven by the 8.6 percent increase in cropland.
Pastureland remained unchanged, at $3,000 for 2011.
The U.S. farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,350 per acre for 2011, up 6.8 percent from 2010.
Regional changes in the average value of farm real estate ranged from a 15.9 percent increase in the Corn Belt region, to a 2 percent decline in the Southeast region.
The highest farm real estate values remained in the Northeast region at $4,690 per acre.
The Mountain region had the lowest farm real estate value, $923 per acre.
The U.S. cropland value increased by $260 per acre (9.4 percent) to $3,030 per acre.
In the Northern Plains and Corn Belt regions, the average cropland value increased 17.2 and 16 percent, respectively, from the previous year. However, in the Northeast and Southeast regions, cropland values decreased by 1.3 percent and 1.1 percent, respectively.
Grass worth more, too
The U.S. pasture value increased to $1,100 per acre or 1.9 percent above 2010.
The Southeast region had the largest percentage decrease in pasture value, 8.4 percent below 2010. The Corn Belt and Northern Plains regions had the highest percentage increase, both 6.6 percent above 2010.