Revised
Land values

Ryan Milhollin
Assistant Extension Professor, Agricultural Business and Policy

Introduction

The U.S. Department of Agriculture’s National Agricultural Statistics Service (USDA/NASS) conducts a survey of farm real estate values each year and calculates the average value per acre for each state. The following tables show these values for Missouri, neighboring states and the 48 contiguous states.

Table 1. Farm real estate (land and buildings) average value per acre, 1912–1991.

Year 48 contiguous states Missouri Iowa Illinois
1912 $42 $53 $104 $115
1913 $43 $54 $108 $119
1914 $44 $56 $113 $123
1915 $43 $55 $121 $121
1916 $46 $58 $137 $124
1917 $49 $61 $143 $131
1918 $53 $66 $155 $140
1919 $58 $72 $171 $153
1920 $69 $88 $227 $188
1921 $65 $83 $210 $181
1922 $57 $71 $174 $149
1923 $56 $69 $168 $146
1924 $54 $63 $155 $137
1925 $54 $61 $149 $137
1926 $52 $57 $142 $130
1927 $50 $55 $132 $118
1928 $49 $54 $129 $114
1929 $49 $54 $128 $113
1930 $49 $53 $124 $109
1931 $44 $46 $109 $96
1932 $37 $39 $89 $79
1933 $30 $32 $65 $65
1934 $31 $33 $70 $70
1935 $32 $33 $73 $72
1936 $32 $34 $79 $75
1937 $33 $34 $79 $79
1938 $33 $33 $80 $81
1939 $32 $31 $78 $80
1940 $32 $32 $79 $82
1941 $32 $32 $79 $83
1942 $34 $35 $84 $94
1943 $38 $39 $91 $98
1944 $43 $43 $105 $113
1945 $47 $48 $111 $121
1946 $53 $53 $124 $134
1947 $60 $59 $138 $153
1948 $64 $60 $154 $162
1949 $66 $64 $158 $170
1950 $65 $64 $161 $174
1951 $75 $75 $188 $204
1952 $82 $85 $199 $221
1953 $83 $82 $194 $226
1954 $82 $79 $192 $230
1955 $85 $82 $203 $234
1956 $91 $87 $209 $248
1957 $97 $94 $221 $275
1958 $103 $102 $230 $283
1959 $111 $110 $248 $311
1960 $117 $115 $257 $316
1961 $118 $120 $242 $306
1962 $124 $127 $251 $315
1963 $130 $132 $256 $332
1964 $138 $145 $265 $349
1965 $146 $155 $279 $372
1966 $158 $168 $310 $420
1967 $168 $186 $346 $449
1968 $179 $200 $365 $470
1969 $188 $217 $382 $493
1970 $196 $224 $392 $490
1971 $204 $236 $392 $494
1972 $219 $261 $414 $522
1973 $246 $294 $466 $567
1974 $302 $384 $597 $720
1975 $340 $396 $719 $846
1976 $385 $446 $903 $1,052
1977 $474 $548 $1,259 $1,458
1978 $531 $641 $1,331 $1,625
1979 $628 $726 $1,550 $1,858
1980 $737 $902 $1,840 $2,041
1981 $819 $990 $1999 $2,188
1982 $823 $945 $1,889 $2,023
1983 $788 $856 $1,684 $1,837
1984 $801 $875 $1,518 $1,845
1985 $713 $689 $1,091 $1,381
1986 $640 $648 $873 $1,232
1987 $599 $604 $786 $1,149
1988 $632 $640 $947 $1,262
1989 $668 $684 $1,095 $1,391
1990 683 701 1,090 1,405
1991 703 723 1,139 1,459
Year 48 states Missouri Iowa Illinois   Year 48 states Missouri Iowa Illinois
1912 $42 $53 $104 $115   1952 $82 $85 $199 $221
1913 $43 $54 $108 $119   1953 $83 $82 $194 $226
1914 $44 $56 $113 $123   1954 $82 $79 $192 $230
1915 $43 $55 $121 $121   1955 $85 $82 $203 $234
1916 $46 $58 $137 $124   1956 $91 $87 $209 $248
1917 $49 $61 $143 $131   1957 $97 $94 $221 $275
1918 $53 $66 $155 $140   1958 $103 $102 $230 $283
1919 $58 $72 $171 $153   1959 $111 $110 $248 $311
1920 $69 $88 $227 $188   1960 $117 $115 $257 $316
1921 $65 $83 $210 $181   1961 $118 $120 $242 $306
1922 $57 $71 $174 $149   1962 $124 $127 $251 $315
1923 $56 $69 $168 $146   1963 $130 $132 $256 $332
1924 $54 $63 $155 $137   1964 $138 $145 $265 $349
1925 $54 $61 $149 $137   1965 $146 $155 $279 $372
1926 $52 $57 $142 $130   1966 $158 $168 $310 $420
1927 $50 $55 $132 $118   1967 $168 $186 $346 $449
1928 $49 $54 $129 $114   1968 $179 $200 $365 $470
1929 $49 $54 $128 $113   1969 $188 $217 $382 $493
1930 $49 $53 $124 $109   1970 $196 $224 $392 $490
1931 $44 $46 $109 $96   1971 $204 $236 $392 $494
1932 $37 $39 $89 $79   1972 $219 $261 $414 $522
1933 $30 $32 $65 $65   1973 $246 $294 $466 $567
1934 $31 $33 $70 $70   1974 $302 $384 $597 $720
1935 $32 $33 $73 $72   1975 $340 $396 $719 $846
1936 $32 $34 $79 $75   1976 $385 $446 $903 $1,052
1937 $33 $34 $79 $79   1977 $474 $548 $1,259 $1,458
1938 $33 $33 $80 $81   1978 $531 $641 $1,331 $1,625
1939 $32 $31 $78 $80   1979 $628 $726 $1,550 $1,858
1940 $32 $32 $79 $82   1980 $737 $902 $1,840 $2,041
1941 $32 $32 $79 $83   1981 $819 $990 $1999 $2,188
1942 $34 $35 $84 $94   1982 $823 $945 $1,889 $2,023
1943 $38 $39 $91 $98   1983 $788 $856 $1,684 $1,837
1944 $43 $43 $105 $113   1984 $801 $875 $1,518 $1,845
1945 $47 $48 $111 $121   1985 $713 $689 $1,091 $1,381
1946 $53 $53 $124 $134   1986 $640 $648 $873 $1,232
1947 $60 $59 $138 $153   1987 $599 $604 $786 $1,149
1948 $64 $60 $154 $162   1988 $632 $640 $947 $1,262
1949 $66 $64 $158 $170   1989 $668 $684 $1,095 $1,391
1950 $65 $64 $161 $174   1990 683 701 1,090 1,405
1951 $75 $75 $188 $204   1991 703 723 1,139 1,459

Table 2. Farm real estate (land and buildings) average value per acre, 1992 to present.

Year 48 states Missouri Iowa Illinois Kentucky Tennessee Arkansas Oklahoma Kansas Nebraska
1992 $713 $734 $1,153 $1,536 $998 $1,130 $815 $482 $460 $517
1993 736 774 1,212 1,548 1,077 1,245 880 496 463 514
1994 798 825 1,280 1,670 1,140 1,250 927 517 503 550
1995 844 880 1,350 1,820 1,250 1,340 983 547 535 580
1996 887 950 1,450 1,900 1,300 1,530 1,010 547 553 610
1997 926 1,010 1,600 1,980 1,350 1,650 1,070 570 565 620
1998 974 1,070 1,700 2,130 1,450 1,810 1,150 610 577 645
1999 1,030 1,150 1,760 2,220 1,550 1,950 1,220 625 600 675
2000 1,090 1,230 1,800 2,260 1,650 2,100 1,290 640 625 710
2001 1,150 1,300 1,850 2,290 1,750 2,200 1,350 655 645 735
2002 1,210 1,380 1,920 2,350 1,830 2,300 1,410 680 665 760
2003 1,270 1,470 2,010 2,430 1,900 2,400 1,480 705 685 775
2004 1,340 1,560 2,200 2,560 1,980 2,470 1,640 750 700 810
2005 1,610 1,750 2,640 3,210 2,450 2,790 1,850 900 810 910
2006 1,830 1,910 2,910 3,590 2,670 2,970 2,000 970 870 1,030
2007 2,010 2,170 3,370 4,020 2,740 3,250 2,240 1,080 980 1,140
2008 2,170 2,300 3,950 4,550 2,850 3,450 2,420 1,150 1,020 1,330
2009 2,090 2,160 3,780 4,450 2,800 3,260 2,340 1,150 1,010 1,320
2010 2,150 2,270 4,350 4,720 2,780 3,460 2,400 1,200 1,060 1,470
2011 2,300 2,420 5,410 5,390 2,750 3,510 2,440 1,260 1,240 1,840
2012 2,520 2,710 6,530 6,210 2,840 3,520 2,620 1,370 1,510 2,420
2013 2,730 2,850 7,700 7,100 3,020 3,570 2,700 1,450 1,750 2,800
2014 2,940 3,050 8,320 7,480 3,210 3,620 2,830 1,550 2,060 3,100
2015 3,000 3,230 7,670 7,430 3,370 3,690 3,020 1,630 2,050 3,010
2016 2,990 3,220 7,370 7,300 3,540 3,770 3,000 1,690 1,910 2,890
2017 3,030 3,120 7,350 7,160 3,680 3,840 3,110 1,750 1,890 2,820
2018 3,100 3,380 7,270 7,280 3,770 3,920 3,160 1,800 1,850 2,750
2019 3,160 3,400 7,190 7,280 3,820 3,990 3,320 1,870 1,960 2,850
2020 3,160 3,400 7,070 7,400 3,920 4,100 3,350 1,890 1,900 2,790
2021 3,380 3,700 7,740 7,900 4,000 4,260 3,390 2,020 2,100 3,100
2022 3,800 4,150 9,400 8,900 4,350 4,700 3,550 2,250 2,630 3,750
2023 4,080 4,500 9,930 9,300 4,700 5,100 3,600 2,450 3,060 4,240

Missouri county values

MU Extension publication G403, Missouri Farmland Values reports average market value per acre of farmland and buildings for individual Missouri counties. This data is reported in the U.S. Census of Agriculture, which is conducted every five years. Methods for estimating land value in intervening years are documented in this publication.

Original author
Robert J. Bevins

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Publication No. G404
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