Ohio Cropland Values and Cash Rents 2008-09 – Additional Survey Results

The “Ohio Cropland Values and Cash Rents” survey is conducted annually drawing on the expertise of numerous professionals that are knowledgeable of Ohio’s cropland markets. Surveyed groups include farm managers, rural appraisers, agricultural lenders, OSU Extension Educators, farmers, and Farm Service Agency personnel. These data were collected in December 2008. Financial conditions at that time should be considered when evaluating this summary data.


One hundred eighteen surveys were completed, analyzed and summarized. Respondents were asked to give responses on land value, land rent and other measures. Some of these other measures include: Value of Cropland in Transition (areas where much of the land is moving into residential, commercial & industrial uses), Expected Percent Change in the Value of Bare Cropland in the Next 5 Years, Expected Percent Change in the Cash Rental Rates in the Next 5 Years, Expected Average Interest Rate for Mortgage Loans for 2009, Expected Average Operating Loan Rate for 2009, Pasture Cash Rent per Acre and the Value of Pasture Land.


Table 1 through 3 below show the results of the survey for these measures for Ohio and 2 sub-regions (northwest and southwest) of Ohio. Only the northwest and southwest Ohio regions had sufficient survey responses to enable us to summarize and publish regional data.

Tables show the average (Avg) (simple average) of each row, standard deviation (Std) of the data for that measure (measure of variability), average plus one standard deviation (Avg+Std), and average minus one standard deviation (Avg-Std). These latter two numbers reported indicate a range within which about two-thirds of the responses in the data for that measure will fall.


Land value and cash rental results for the 2008-2009 survey were summarized in the February Edition of the Ohio Ag Manager:

http://ohioagmanager.osu.edu/2009/02/

That article reviewed the results of the survey for 3 classes of land in the survey respondent’s area; “top” producing land, “average” producing land and “poor” producing land.

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