The most recent Texas Rural Land Value Trends Report (2017) has been released by the Texas Chapter of the American Society of Farm Managers and Rural Appraisers. For a copy of the 2017 Report, click here.

This is an extremely useful resource for Texas landowners. According to the Report, state-wide average land values were up to $2,644/acre, the strongest growth since 2014.  In order to assist landowners in analyzing their land values, the Report breaks the state into 7 regions (and even further by sub-region) and discusses land values, average lease rates, and more for each.  Additionally, there are a number of interesting articles, including one discussing cotton being reintroduced to the Farm Bill by my colleague, Dr. Bill Thompson.

By way of example, for Region 1, which includes much of the Panhandle and South Plains, the Report shows land value and rental rate ranges for several types of property in the North Panhandle sub-region: Irrigated cropland (good water); irrigated cropland (average water); irrigated cropland (fair water); dry cropland east; dry cropland west; rangeland; and Conservation Reserve Program land.  For each of these, it shows the land value range, rental range, and the activity and trend for each.  For example, in the North Panhandle, dryland cropland in the eastern portion of the sub-region reports a value range from $750-$1,500/acre with stable activity and trend.  Rental values for the same was reported at $30-$45/acre/year with stable activity and trend.  Similar information for the entire state is included in the Report.