Linking the Price of Agricultural Land to Use Values and Amenities
In many areas throughout the United States, the market value of agricultural land exceeds its use value in agricultural production. This deviation is the result of many factors, including urban influence, recreation, mineral extraction, and other natural amenities. This study examines the drivers of the nonagricultural portion of cropland and pastureland values across the United States using a rich geospatial data framework linked to the USDA’s June Area Survey. The analysis suggests that many natural amenities and urban pressures shape the value of US cropland and pastureland, and that development potential is the largest driver of the nonagricultural component of farmland values.
|Date of creation:||17 Dec 2013|
|Contact details of provider:|| Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202|
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vincent E. Breneman & Richard F. Nehring, 2006. "Urban Sprawl and Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 915-929.
- Richard E. Just & John A. Miranowski, 1993.
"Understanding Farmland Price Changes,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 75(1), pages 156-168.
- Miranowski, John, 1993. "Understanding Farmland Price Changes," Staff General Research Papers Archive 10696, Iowa State University, Department of Economics.
- Plantinga, Andrew J. & Lubowski, Ruben N. & Stavins, Robert N., 2002. "The effects of potential land development on agricultural land prices," Journal of Urban Economics, Elsevier, vol. 52(3), pages 561-581, November.
- Stavins, Robert & Plantinga, Andrew & Lubowski, Ruben, 2002. "The Effects of Potential Land Development on Agricultural Land Prices," Discussion Papers dp-02-11-, Resources For the Future.
- Plantinga, Andrew & Lubowski, Ruben & Stavins, Robert, 2002. "The Effects of Potential Land Development on Agricultural Land Prices," Working Paper Series rwp02-012, Harvard University, John F. Kennedy School of Government.
- James R. Wasson & Donald M. McLeod & Christopher T. Bastian & Benjamin S. Rashford, 2013. "The Effects of Environmental Amenities on Agricultural Land Values," Land Economics, University of Wisconsin Press, vol. 89(3), pages 466-478.
- Henderson, Jason R. & Moore, Sean, 2006. "The Capitalization of Wildlife Recreation Income into Farmland Values," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(03), December.
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Weber, Jeremy G., 2012. "The effects of a natural gas boom on employment and income in Colorado, Texas, and Wyoming," Energy Economics, Elsevier, vol. 34(5), pages 1580-1588.
- Kent Messer & William Schulze & Katherine Hackett & Trudy Cameron & Gary McClelland, 2006. "Can Stigma Explain Large Property Value Losses? The Psychology and Economics of Superfund," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 33(3), pages 299-324, 03.
- Jeremy G. Weber & Jason Brown & John Pender, 2013. "Rural wealth creation and emerging energy industries: lease and royalty payments to farm households and businesses," Research Working Paper RWP 13-07, Federal Reserve Bank of Kansas City.
- Henderson, Jason & Moore, Sean, 2006. "The Capitalization of Wildlife Recreation Income into Farmland Values," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 38(03), pages 597-610, December.
- Guiling, Pam & Brorsen, B. Wade & Doye, Damona G., 2007. "How Much Influence Does Recreation Have on Agricultural Land Values?," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34947, Southern Agricultural Economics Association.
- Kuethe, Todd H. & Ifft, Jennifer & Morehart, Mitchell J., 2011. "The Influence Of Urban Areas On Farmland Values," Choices, Agricultural and Applied Economics Association, vol. 26(2).
- Doye, Damona G. & Brorsen, B. Wade, 2011. "Pasture Land Values: A "Green Acres" Effect?," Choices, Agricultural and Applied Economics Association, vol. 26(2).
- Haixiao Huang & Gay Y. Miller & Bruce J. Sherrick & Miguel I. Gómez, 2006. "Factors Influencing Illinois Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 458-470.
- Bastian, Chris T. & McLeod, Donald M. & Germino, Matthew J. & Reiners, William A. & Blasko, Benedict J., 2002. "Environmental amenities and agricultural land values: a hedonic model using geographic information systems data," Ecological Economics, Elsevier, vol. 40(3), pages 337-349, March.
- J. Stephen Clark & K. K. Klein & Shelley J. Thompson, 1993. "Are Subsidies Capitalized into Land Values? Some Time Series Evidence from Saskatchewan," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 41(2), pages 155-168, 07.
- C. Arden Pope III, 1985. "Agricultural Productive and Consumptive Use Components of Rural Land Values in Texas," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(1), pages 81-86.
- Anderson, John E. & Griffing, Marlon F., 2000. "Use-Value Assessment Tax Expenditures in Urban Areas," Journal of Urban Economics, Elsevier, vol. 48(3), pages 443-452, November.
- Heimlich, Ralph E., 2000. "Farm Resource Regions," Agricultural Information Bulletins 33625, United States Department of Agriculture, Economic Research Service. Full references (including those not matched with items on IDEAS)