NASS: Georgia farm land values down
Georgia’s average farm real estate value dropped slightly from 2017 to 2018 but remained above the national average, according to the Land Values and Cash Rents report from the USDA’s National Agricultural Statistics Service.
Georgia’s farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,500 per acre in 2018, down from $3,550 per acre in 2017, a one percent drop. Nationwide, farm real estate average value was $3,140.
Georgia cropland overall retained the same value, $3,420 per acre, in 2018 as in 2017. The value of Georgia’s irrigated land averaged $4,550 per acre in 2018, up 11 percent from 2017, when the state’s average irrigated land value was $4,070 per acre. Non-irrigated cropland value fell five percent, from $3,180 per acre in 2017 to $3,010 per acre in 2018.
Georgia’s pasture average value in 2018 is $3,650 per acre, with no change from the 2017 average value.
Rent for irrigated cropland in Georgia averaged $190 per acre in 2018, down from $200 per acre in 2017. Non-irrigated land rent averaged $65 per acre in 2018, the same as in 2017. Georgia pasture rent averaged $27 per acre in 2018, down from $29 per acre in 2017.
To access the 2018 Southern Region Land Values and Cash Rents report, visit https://gfb.ag/NASS18landvalues.