California Land Values
The 2014 California average farm real estate was valued at $7,300 per acre, according to a survey conducted by the National Agricultural Statistics Service (NASS). This is an all-time record high for California and $400 above the previous record set in 2013. Annual farm real estate values have continually trended upward since 1994. Irrigated cropland, at $12,100 per acre, increased $300 per acre compared with the 2013 estimated value. Non-irrigated cropland, at $3,650 per acre, was up $250 per acre from last year. All cropland, at $10,140 per acre, was up $280 per acre from last year. The average value of pastureland, at $2,700 per acre, was $50 per acre greater than the previous year.
California Cash Rents – Irrigated Cropland
The 2014 State irrigated cropland rental rate of $405 per acre was up $40 per acre from 2013. This is the second consecutive year the State has reached an all-time record high. The Central Coast irrigated cropland rental rate increased by 23 percent from last year to $1,240 per acre and San Joaquin Valley increased by 14 percent to $311 per acre. Sacramento Valley rental rates decreased slightly to $248 per acre in 2014 from $253 per acre in 2013.
California Cash Rents –Non-Irrigated Cropland
The 2014 State non-irrigated rental rate of $32.00 per acre was up 7 percent from 2013. Rental rate changes were varied throughout the State with the Central Coast showing the largest increase in rental rates at $25.50 per acre, up 27 percent from 2013. The San Joaquin Valley rental rates stayed constant at $37 per acre and Southern California fell to $29.50 per acre, down 11 percent from 2013.
California Cash Rents – Pastureland
The State pastureland rental rate, at $13.50 per acre, was up from $12.00 per acre in 2013 and was the highest rental rate since 2009. The San Joaquin Valley rate, at $14.50 per acre, was up 26 percent and was the highest since $15.00 per acre in 2009. The Sacramento Valley and Central Coast increased 3 percent and 10 percent, respectively, from 2013. Southern California and Siskiyou-Shasta were the only districts to show a decrease in rental rate from 2013.
California State Average Cash Rents
The release includes average rental rates for irrigated cropland, non-irrigated cropland and pastureland during 2013.
The information is based on data NASS gathered by contacting nearly 7,000 agricultural producers who rented land for cash in California during 2014.
View and read the entire Pacific Regional Land Values and Cash Rents report. (.pdf)