1

Farm Land and Buildings 

Real estate values continue to increase; per farm value up 36 percent.

United States Department of Agriculture

National Agricultural Statistics Service

www.agcensus.usda.gov

(800)727-9540

ACH12-15/November 2014

Highlights

In 2012, the value of farm real estate, including both land and buildings, in the 

United States as a whole was $2.3 trillion; this was $524.2 billion more than in 

2007, when the last agriculture census was conducted. The average value per 

farm was $1.1 million, a 36 percent increase since 2007. (Fig. 1) 

Eight of the ten states with the highest per farm average values were large 

agriculture states in the central part of the country. However, the ten states with 

the highest per acre average values were geographically diverse, extending 

from the 

Northeast to 

Hawaii. Among 

counties, 

average per 

acre values for 

farm real estate 

ranged from 

$792,500 in 

Kings County, 

New York, to 

$42 in Aleutian 

Islands County, 

Alaska.

Farm Real Estate Trends

NASS collects data on farm real 

estate values through annual 

surveys and the Census of 

Agriculture conducted every five 

years. Together these show a 

steady increase in real estate 

values since 1987, except for a 

dip in 2009. Average value per 

acre in 2014 was $2,950, a fivefold 

increase since 1987 ($599).

Fig. 1

Per Farm Average Value of Land and Buildings, by County, 2012

$ millions

<$0.5

$0.5 – <$1.0

$1.0 – <$1.5

$1.5 – <$2.0

$2.0 – <$2.5

$2.5 +

U.S. = $1.1 million

Source: USDA NASS, 2012 Census of Agriculture.

Top States in . . . 

. . . per farm average value

($ millions)

South Dakota 2.3

Illinois 2.3

Iowa 2.2

Nebraska 2.2

California 2.1

North Dakota 1.8

Wyoming 1.8

Delaware 1.7

Montana 1.7

Minnesota 1.5

. . . per acre average value 

(dollars)

Rhode Island 14,041

New Jersey 12,792

Connecticut 11,082

Massachusetts 10,430

Hawaii 9,058

Delaware 8,166

Maryland 6,930

Iowa 6,389

Illinois 6,305

California 6,278

Per Acre Average Value, U.S. Farms, 1984 - 2014

$500 

$1,500 

$2,500 

$3,500 

Source: USDA NASS.
2 USDA is an equal opportunity provider and employer.

The per acre value of farm real estate also varies by farm 

size. Large farms, with many acres dispersed over large 

areas with less population pressure, have the lowest average per acre value. Smaller farms, sometimes located near 

urban areas, have the highest per acre values. (Fig. 3)

Fig. 3

Per Acre Value by Farm Size, 2012

1 – 9 $39,363

180 – 219 $3,537

140 – 179 $3,516

100 – 139 $4,037

70 – 99 $4,517

50 – 69 $5,669

10 – 49 $9,696

220 – 259 $3,498

2,000 + $1,436

1,000 – 1,999 $3,168

350 – 999 $3,412

260 – 299 $3,379

Farm size in acres

Source: USDA NASS, 2012 Census of Agriculture.

Real Estate Value and Operator Age

The per acre value of farm real estate does not vary much 

by age of principal operator, and younger and older farmers 

hold farm real estate in similar proportion to their populations. Principal operators under 55 years of age comprise 

38 percent of principal operators and hold 39 percent of 

farm real estate. Those 55 and older account for 62 percent 

of principal operators and 61 percent of farm real estate. 

(Table 1)

Table 1

Farm Real Estate Value by Age of Principal Operator, 2012

Percent of

Principal

Operators

Percent of

 U.S. Farm Real

Estate Value

Per Acre

Value 

($)

Under 25 0.5 0.3 2,524

25 to 34 5.2 4.3 2,674

35 to 44 10.2 10.3 2,312

45 to 54 22.1 24.2 2,736

55 to 64 28.8 31.9 2,541

65+ 33.2 29.0 2,277

Total 100 100 2,481

Source: USDA NASS, 2012 Census of Agriculture.

Operation Type and Size

The per acre value of farm real estate varies by type of 

operation and the facilities needed for farming. Beef cattle 

farming and ranching, for example, which relies on pasture 

and grazing land, has the lowest average per acre value 

among commodity specializations. Operations with sophisticated facilities and buildings have the highest per acre 

values; these include fruit and tree nut, horticulture, and 

hog and pig operations. (Fig. 2)

Fig. 2 

Per Acre Value by Commodity Specializationa, 2012

Beef cattle $1,434 

Combination animals $1,787 b

Cotton $1,939 

Sheep and goats $1,944 

Combination crops $2,312 b

Cattle feedlots $2,341 

All farms $2,481 

Grains and oilseeds $3,311 

Tobacco $3,802 

Dairy $4,188 

Vegetables $5,190 

Poultry and eggs $5,401 

Hogs and pigs $6,076 

Horticulture $6,791 

Fruits and tree nuts $8,746 

a

More than half of a farm’s sales come from that commodity.

b

Farms with no single majority commodity and farms specializing in miscellaneous commodities.

Source: USDA NASS, 2012 Census of Agriculture.

About the Census of Agriculture

The Census of Agriculture is the leading source of facts 

and figures about American agriculture. USDA’s National 

Agricultural Statistics Service (NASS) conducts the census 

once every five years, and conducted the 2012 Census of 

Agriculture in early 2013 based on 2012 end-of-year data.

Census results are available in multiple formats, including 

an online database, static and interactive maps, an API for 

developers, infographics, and more Highlights like this one.

To learn more about farm real estate and many other topics 

from the 2012 Census of Agriculture, go to:

www.agcensus.usda.gov