Purdue Agricultural Economics Report
We have reformatted the PAER report. It is now a PDF file that may be downloaded for viewing and printing. (August 2013 PAER Report)
In this Issue:
In this issue we report on the continued upward movement of Indiana land values and cash rents. Over the past 12 months average quality farmland increased 17% and cash rents were up 10%. Land values have now roughly doubled since 2007 in the state. By reading this PAER you can find out if land values and rents in your area of the state increased more or less than these state averages. Plus, we provide a comparison of Indiana values to other states.
These increases are impressive, but survey respondents were beginning to sense changes in June 2013 when they completed their surveys. A notable group felt that land values would be roughly unchanged or down by the end of this year, and 57% thought land values could be unchanged or lower in 5 years. In addition, they noted the declining importance of most factors that have been driving the price surge.
There’s even more. Survey respondents provided their values for Indiana irrigated land, and rental rates for irrigated land, pasture ground, hay ground, and grain bins.