2012 California farm real estate values are $7,200 per acre on average, an all-time record and $300 above the previous high set last year, according to the National Agricultural Statistics Service Field Office in Sacramento.
California annual farm real estate values have continually increased since 1994.
Irrigated cropland, valued at $12,000 per acre on average, increased $500 per acre compared with last year’s estimated value.
Non-irrigated cropland value, at $3,550 per acre, was down 1.4 percent from last year.
All cropland, at $9,810 per acre, was up $360 per acre from last year.The average value of pastureland, at $2,800 per acre, was equal to the previous year.
Cash rent rates
The 2012 California irrigated cropland rental rate, at $340 per acre, was up $5 per acre from 2011, but still down $5 per acre from 2010.
The Central Coast rental rate was down slightly from last year at $1,010 per acre.
The Sacramento Valley rental rate, at $247 per acre, was down $3 from 2011.
The San Joaquin Valley (SJV) rental rate, at $269 per acre, increased 13 percent from the previous year.
The state non-irrigated rental rate, at $40 per acre, was down 20 percent from the 2010 and 2011 levels of $50 per acre.The Sacramento Valley non-irrigated rental rate, at $31.00 per acre, was $5 per acre lower than 2011.
The SJV non-irrigated rental rate, at $41.50 per acre, was down 24 percent from the previous year.Below normal rainfall throughout the winter contributed to the lower realized rental rates.
State pastureland, at $11.50 per acre, was down from $12.50 per acre in 2011.
Central Coast and SJV rental rates were equal to the previous year’s rates while all other district rates decreased.
The North Coast rental rate decreased 44 percent to $12 per acre.
The Sierra Nevada rental rate, at $11.50 per acre, decreased $3.50 compared with $15 per acre in 2011.
The NASS data is based on surveys with California farmers and ranchers.