Value of Oregon farm real estate on the rise, triple nationwide increases
The estimated value of Oregon farmland increased by $10.7 billion between 2017 and 2022, according to the latest USDA Census of Agriculture
The estimated value of Oregon farmland has skyrocketed in recent years, outpacing averages nationwide and leading to concerns about affordability for the next generation of farmers.
In a recent analysis of data from the latest U.S. Census of Agriculture, Oregon State University Econ... moreValue of Oregon farm real estate on the rise, triple nationwide increases
The estimated value of Oregon farmland increased by $10.7 billion between 2017 and 2022, according to the latest USDA Census of Agriculture
The estimated value of Oregon farmland has skyrocketed in recent years, outpacing averages nationwide and leading to concerns about affordability for the next generation of farmers.
In a recent analysis of data from the latest U.S. Census of Agriculture, Oregon State University Economics Professor Dan Bigelow found that the estimated value of Oregon farm real estate grew $10.7 billion between 2017 and 2022. That’s a 23% gain in just five years, and more than triple the 7% gain in total estimated farm real estate value nationwide.
“This prolonged period of increase is pretty unique, at least in modern history,” Bigelow said.
It’s driven by a number of factors, including historically low interest rates for borrowing in the last decade, an overall decline in available farmland in the state and consolidation of remaining farmland.
Between 2017 and 2022, the amount of available farmland in Oregon declined by 4%, according to the census, which is undertaken every five years by the U.S. Department of Agriculture. Another big factor is investment in farmland by non-farmers. Bigelow said a growing number of investors and publicly traded real estate investment trusts are sinking money into agricultural land across the U.S., including in Oregon.
