Determinants of Farmland Values

Terry, David D.; Pine, Wilfred H.; Bidwell, O. W.

doi:10.2307/3628333

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2020

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“…From the individual factor effect perspective, Terry et al (1982) is one of the earliest holistic studies on farmland value determinants. Their study shows that bordering roads, year sold, soil capability class, grain sorghum yield, and percent cropland have the greatest influence on land value.…”

Section: Introductionmentioning

confidence: 99%

Population, Income, and Farmland Pricing in an Open Economy

Dong

Guo

2020

IJFS

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Farmland valuation models usually incorporate local purchasing power as one of the pricing factors. A plausible rationale is that a larger population and higher income per capita imply increasing demand for agricultural products and farmland. In this paper, we study the relationship between the agricultural land prices, the regional population, and income per capita in an open economy setting in nominal and real variable terms using data from 1929 to 2018 at the state level. We show that in most areas of the United States, agricultural land prices are less affected by the state population or personal income. The valuation of agricultural land should not factor in the local purchasing power factors, with a few exceptions.

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Section: Introductionmentioning

confidence: 99%