Determinants of Illinois farmland prices

Farmland prices;farmland values;Illinois farmland;hedonic model

Hanson, Erik ; Sherrick ; Bruce J.

关键词: Farmland prices;    farmland values;    Illinois farmland;    hedonic model;   

Others  :  https://www.ideals.illinois.edu/bitstream/handle/2142/45361/Erik_Hanson.pdf?sequence=1&isAllowed=y

美国|英语

来源: The Illinois Digital Environment for Access to Learning and Scholarship

【 摘 要 】

This study examines the determinants of Illinois farmland prices. Hedonic models are utilized to represent and analyze the defining characteristics of Illinois farmland. Models areapplied to Illinois Department of Revenue farmland transfer data from 1979 to 2010. Particularattention is given to farmland prices from 2000 to 2010. Results show that urban influence wasan exceptionally important determinant of county-level farmland prices during the early 2000s. Soil productivity was also a major driver of farmland price variation. Parcel-level regressionsconfirm these insights. This study’s findings agree with anecdotal and empirical evidence from the Illinois farmland market in recent years.