Talking about the Missouri land values steadily grew in 2020. What norms and factors are involved behind the continuous growth value of the Missouri land. The question being asked from the landowners, farmers, producers of crop production on the views of values of the land of Missouri.
They were asked not to answer about the lower land from 40 acres of the land being converted for commercial uses.
According to the expert, Ray Massey, MU Extension agricultural economics professor survey, In 2020 the purchase of non-farm and low interest raised the value of the land.
New investors participated in the factors involved in it. The properties near metropolitan areas made more effective for the buyers by providing broadband internet facilities.
Respondents have been asked to give the records of the values estimated as of July 2020. The cropland distinguished into three categories good, average, and poor also amongst the timberland, irrigated cropland, and recreational land.
The respondents told that the irrigated cropland at $ 5,555 per acre, $134 or an increase of 2% above 2019 according to the statewide.
In Timberland, recreational land, and hunting land there is an increase of great values in these lands. Also, it has been recorded that about 60% of farmland buyers intend to farm the land themselves and the rented land to others is 25%. 12% of the land was utilized for nonfarming purposes.
Massey reported that since 1950, 6% per year values of Missouri farmland and building values have appreciated.