How much did an acre of land cost in 1940?

The average value of farm land rose from $32 per acre in 1940 to $131 in 1963, a fourfold increase. Compounded annually, the gain for the period averaged 6.4 per cent. Since 1960, the rate of gain has diminished, perhaps reflecting the ap proach of land prices to their former position relative to net farm income.

How much was an acre of land in 1930?

Agricultural land values saw the largest percentage declines of the century in the early 1930’s, the beginning of the Great Depression. Agricultural land values dropped 37 percent over a period of 3 years and remained between $30 and $33 per acre throughout the 1930’s.

What was the price of an acre of land?

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2019, up $60 per acre (1.9 percent) from 2018. The United States cropland value averaged $4,100 per acre, an increase of $50 per acre (1.2 percent) from the previous year.

How much was an acre in 1870?

Price of Goods, 1870
Food Prices .
Home and farm costs $17.00 by mail order
Land $5/acre (avg. 160 acres) $.50 cents/box
Homestead filing fee $14 $60

How much did a house cost in 1860?

A four-room house in most eastern cities ran about $4.50 per month. Outside of the city, land cost around $3 to $5 an acre. Then, as now, a lot of a household’s budget went to food.

How many acres is a football field?

1.32 acres
A standard American football field covers 1.32 acres. The standard dimensions for an American football field, including the end areas, are 360 feet long x 160 feet wide, or 57,600 square feet. An American football field is 300 feet long in case the end zones are omitted.

How much was an acre of land in 1860?

The latest census showed that the United States had 31 million people, 77 of whom were killed that year in the country’s first factory disaster. Land was selling for $3 to $5 an acre, and a laborer’s wage without board was 90 cents a day.

What state has the cheapest land?

Arizona came out on top as having the cheapest land in the U.S. At a median price around $4,000 per acre, land is cheapest in Arizona. The neighboring Southwestern state of New Mexico ranks a close second at $6,000 per acre. Representing the South and third place is Mississippi at around $10,000 per acre.

What state has the cheapest farmland?

Montana, Wyoming, South Dakota, Nevada, New Mexico Aside from being located out in the western part of the country, each of these states have land for sale that’s priced extremely low—about $2,000 an acre.

How much did a loaf of bread cost in 1870?

a loaf of bread: 7 cents. a dozen eggs: 34 cents. a quart of milk: 9 cents.

How much did a gun cost in 1860?

The Colt 1860 cost approximately $20 per revolver. This was rather expensive during the 1860s, both for the United States Army and private citizens. Colt had been criticized for this high price, and by 1865 the revolver was reduced to $14.50.

What could a dollar buy in 1860?

$1 in 1860 is worth $33.05 today $1 in 1860 is equivalent in purchasing power to about $33.05 today, an increase of $32.05 over 161 years. The dollar had an average inflation rate of 2.20% per year between 1860 and today, producing a cumulative price increase of 3,204.94%.

What was the value of agricultural land in 2000?

Economic realities in the farm sector required operators to manage resources such as land and water more efficiently, and to market their products more effectively. In 2000, the average value of agricultural land and buildings was $1,050 per acre, 52 times greater than the average of $20 per acre in 1900.

What’s the average value of agricultural land in the US?

Agricultural land values have steadily increased since 1987 to the current average U.S. value of $1,050 per acre.

What was the value of agricultural land during the Great Depression?

Agricultural land values dropped 37 percent over a period of 3 years and remained between $30 and $33 per acre throughout the 1930’s. Following the Great Depression, land values were revitalized and began a climb that continued until the early 1980’s.

What was the value of land in 1970?

In 1970 the average value was $197 and increased to an average value of $737 by 1980, a yearly average increase of more than 10 percent. The climb in land values was primarily due to strong farm prices, expanding trade, high inflation, and speculation that land values would continue to rise.