Learn about innovative farm management strategies, new technologies for improving efficiency and productivity, ways to ensure a successful transition of farm operations to the next generation. Join us at the 91st annual Purdue Farm Management Tour and reception honoring the 2024 Indiana Master Farmers in Randolph County (Winchester), Indiana on Wednesday, July 17th.
August 11, 2023
The Index of Indiana Farm Real Estate
Attached is a list of Indiana farm real estate index numbers. Numbers from 1912 through 1986 were taken from various USDA publications. Beginning in 1987, USDA discontinued publishing the index but continued publication of dollar estimates of farm real estate values and annual percentage changes. The index numbers from 1987 on were calculated from these published figures and were not adjusted to reflect census-based revisions on dollar values published by USDA. For this reason, year-to-year percentage changes in the index may differ from those based on dollar values published by USDA
Following are examples of two widely used applications of the index:
- Estimate the 1974 value of land that sold in 2016 for $8,500 per acre
50.2 (1974 index) / 583.8 (2016 index) = 0.0860 x $8, 500 = $731, estimated 1974 value - Estimate the 2016 value of land purchased for $1,225 per acre in 1990.
583.8 (2016 index) / 83.4 (1990 index) = 7, 000 x $1, 225 = $8, 575, estimated 2016 value
![201903_IndianaFarmlandIndex_Featured Indiana Farm Real Estate](https://ag.purdue.edu/commercialag/home/wp-content/uploads/2019/03/201903_IndianaFarmlandIndex_Featured.jpg)
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Two outstanding farms in east-central Indiana will host visitors wanting to learn about farm and crop management on July 17th for the Purdue University Farm Management Tour. The Indiana Master Farmer reception and panel discussion will follow.
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