Who Is Buying Farmland?
Respondents were asked if the buyers of farmland in their area are local people, are from elsewhere in Missouri, or are from outside Missouri. Their responses indicate they think 57% are local, 27% are from Missouri but not local, and 16% are from out of state (Fig. 6). In addition to the buyers’ locations, respondents were asked what they think the buyers plan to do with their purchases. In their opinion, 54% will operate as a farm themselves, 23% will rent out, and 23% will not use for agricultural production (Fig. 7). Other Surveys USDA data for Missouri show the value of farm real estate has been increasing since 1987 with an annual percentage increase of 8% in 1995, 6.3% in 1996, 5.9% in 1997, 5.6% in 1998, and 5.3% in 1999. On Jan. 1, 2000, the average value of farm real estate in Missouri was $1,190 per acre, the highest on record. Similar USDA data for states adjoining Missouri show all were higher than a year earlier, except Iowa and Illinois which were lower by $20 and $30 pe
