Georgia's overall farm real estate values declined from 2014 to 2015 despite gains in cropland values, according to a report from the USDA's National Agricultural Statistics Service.
The state's farm real estate average value was $3,270 per acre, a decline of $30 per acre from 2014, when farm real estate values averaged $3,300 per acre. The farm real estate average value takes into account cropland, pasture land, woodland and buildings. Using the NASS statistics, the average-size farm in Georgia (228 acres according to the 2012 Census of Agriculture) fell in real estate value by $6,840.
Georgia cropland value grew from $3,080 in 2014 to $3,160 in 2015, an increase of 2.6 percent. Irrigated cropland values grew by 5 percent, from $3,430 per acre in 2014 to $3,600 in 2015. Non-irrigated farmland values grew by 1.7 percent, from $2,950 per acre in 2014 to $3,000 per acre in 2015.
The average value for Georgia pasture land in 2015 is $3,580 per acre, down from $3,650 in 2015, a decline of 1.9 percent.
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