FARM LAND VALUES IN IOWA. 



077,776 for the entire State on the basis of the farm acreage of 1915. 

 Of this enormous increase, $63 an acre occurred from March, 1919, 

 to March, 1920, the period of the boom, an increase for the entire 

 State of $2,075,916,528. 



It is true that some of these increases represented additions of 

 buildings, fences, and other similar farm improvements. It seems 

 improbable, however, that a very large proportion of the increase is 

 represented by these factors. Indeed, the value of improvements 

 according to the Census of 1915 was only $479,903^698, as compared 

 with $455,405,671, the value of buildings according to the Census of 

 1910, an increase of only 5.3 per cent. 1 .However, there is one kind 

 of farm improvement, drainage, not included in the above figures, a 

 kind of improvement which probably is responsible for a consider- 

 able part of the increase in the value of farm lands. The activity in 

 drainage of farm lands has been especially great in north central 

 Iowa. 



So striking an increase in the values of farm lands in a single State 

 could not fail to have profound economic significance. While it is 

 too early to determine all the economic consequences, it is time care- 

 ful attention were given to the phenomena, and that serious consid- 

 eration were devoted to the problem of determining what bearing 

 this enormous increase may have upon the welfare and prosperity 

 of the farmer, the progress of the farming industry, and the future 

 land policies of the United States. 



RANGE OF PRICES PAID FOR FARM LAND. 



While the average price of land, as shown above, was $248 for 

 sales from January to September and $259 for the month of August, 

 it is important to consider the range of prices that result in the above 

 averages. In Table IV is shown the range of prices paid in 1,448 

 sales of farms from January to September, 1919. 



Table IV. — Sales of farm land, classified according to price per acre. 



Under $100 per acre 

 $100 and under $150 

 $150 and under $200 

 $200 and under $250 

 S250 and under $300 

 S300 and under $350 



Number of 

 sales. 



10 

 91 



301 

 372 

 302 

 225 



I and under $400 

 i and under $450 

 > and under $500 

 I and over 



Total 



Number of 

 sales. 



1,448 



It will be noted that more than 80 per cent of the sales range from 

 $150 to $350 per acre. Less than 5 per cent were $400 an acre or 

 more. Only a few sales were found at $500 an acre or more. Among 



1 The figure in 1910 is for buildings, while in 1915 it is for "improvements." It is probable they repre« 

 sent substantially identical units of comparison. 



