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An Overview of U.S. Farm Real Estate Markets


  • Forster, D. Lynn


This paper offers an overview of U.S. farm real estate markets. Major uses of land, location of farm real estate, and ownership patterns are summarized. Characteristics of participants in farm real markets are reviewed. Farm real estate values and rents examined, and factors affecting farm real estate values are reviewed, including the effects of conversion of farm real estate to other uses. Finally, historic returns to farmland owners are summarized.

Suggested Citation

  • Forster, D. Lynn, 2006. "An Overview of U.S. Farm Real Estate Markets," Working Papers 28319, Ohio State University, Department of Agricultural, Environmental and Development Economics.
  • Handle: RePEc:ags:ohswps:28319

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    References listed on IDEAS

    1. Tamer Isgin & D. Lynn Forster, 2006. "A Hedonic Price Analysis of Farmland Option Premiums Under Urban Influences," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(3), pages 327-340, September.
    2. M. M. Kelso, 1977. "Natural Resource Economics: The Upsetting Discipline," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(5), pages 814-823.
    3. Joseph A. Herriges & Jason F. Shogren & Nancy E. Barickman, 1992. "The Implicit Value of Corn Base Acreage," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 50-58.
    4. Allen M. Featherstone & Timothy G. Baker, 1988. "Effects of Reduced Price and Income Supports on Farmland Rent and Value," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 10(2), pages 177-189.
    5. Coggins, Jay S. & Ramezani, Cyrus A., 1998. "An Arbitrage-Free Approach to Quasi-Option Value," Journal of Environmental Economics and Management, Elsevier, vol. 35(2), pages 103-125, March.
    6. Scott H. Irwin & D. Lynn Forster & Bruce J. Sherrick, 1988. "Returns to Farm Real Estate Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 580-587.
    7. Reed, William J., 1993. "The decision to conserve or harvest old-growth forest," Ecological Economics, Elsevier, vol. 8(1), pages 45-69, August.
    8. Charles H. Barnard & Gerald Whittaker & David Westenbarger & Mary Ahearn, 1997. "Evidence of Capitalization of Direct Government Payments into U.S. Cropland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1642-1650.
    9. Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 33895, United States Department of Agriculture, Economic Research Service.
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