FARM LAND VALUES IN IOWA. 7 
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. 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 iands. The activity in 
drainage of farm lands has been especially great in north central 
Towa. - . 7 
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 ot 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. Ina Table IV is shown the range of prices paid in 1,448 
sales of farms from January to September, 1919. 
TasLE IV.—Sales of farin land, classified according to price per acre. 
Number of | Number of © 
sales. Sales. 
inders |O0mperacress=* sae Se Se lOR es oOlanduinderms4 0052 eee 83 
poOmnd ander 150 hae tease ae : 91 || $400 and under $450....--. =tns «ESSE 38 
$150 and under $200... -_-.._....-......-. 301 || $450 and under $500. .-.-..........-... 16 
SA andsander 6200 2520.2 3. sls lea Sf22||boOWand OVErs S222 - soe stots ee 10 
$250'and under $3002... -.- 222-22. -- 302 || ———_——_—_ 
$300 and under $350....-...----.-.-..-. | 225 | | oats soe aoe ee ae eee | 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. 
