As one of the most successful and longest-running management programs specifically crafted for farmers, the Purdue Top Farmer Conference is a one-day event for agricultural producers and agribusiness professionals looking to navigate the complexities of today's agricultural landscape. Participants will have the opportunity to network with peers and hear from farm management experts and agricultural economists from Purdue, Farm Credit Services of America, the University of Illinois Urbana-Champaign and Acres, a land value data analytics company.
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
Index Numbers of Indiana Farm Real Estate Values, August 2023 update
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