A new study from the Bureau of Economic Analysis estimates that America’s land, exclusive of buildings or other improvements, was worth nearly $23 trillion in 2009. It has undoubtedly increased since then. The analysis, which was summarized in a Wall Street Journal blog post yesterday, presents estimates by state (for the lower 48 states only) broken into three categories: federal, developed, and agricultural.
Nationwide, the three categories add up to about 76 percent, leaving 24 percent in an implied “other” category. However, in a few states, the three categories add up to more than 100 percent, suggesting that developed federal lands are counted both in the developed and the federal categories. There may also be some overlap between federal and ag land.
Most of the important data are found in table 3, which the Antiplanner transferred to a spreadsheet for a more detailed review. The table shows that, nationally, ag land is estimated to be worth an average of about $2,000 an acre. However, it is worth much more–$5,000 to $16,500 an acre–in a few smaller eastern states including Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, and Rhode Island. The higher values in these states probably reflect the competition for that land by exurbanites.
