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Title:Determinants of Illinois farmland prices
Author(s):Hanson, Erik
Advisor(s):Sherrick, Bruce J.
Department / Program:Agr & Consumer Economics
Discipline:Agricultural & Applied Econ
Degree Granting Institution:University of Illinois at Urbana-Champaign
Degree:M.S.
Genre:Thesis
Subject(s):Farmland prices
farmland values
Illinois farmland
hedonic model
Abstract:This study examines the determinants of Illinois farmland prices. Hedonic models are utilized to represent and analyze the defining characteristics of Illinois farmland. Models are applied to Illinois Department of Revenue farmland transfer data from 1979 to 2010. Particular attention is given to farmland prices from 2000 to 2010. Results show that urban influence was an 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 regressions confirm these insights. This study’s findings agree with anecdotal and empirical evidence from the Illinois farmland market in recent years.
Issue Date:2013-08-22
URI:http://hdl.handle.net/2142/45361
Rights Information:Copyright 2013 Erik Hanson
Date Available in IDEALS:2013-08-22
Date Deposited:2013-08


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