UNITED STATES DEPARTMENT OF AGRICULTURE 
BULLETIN No. 874 
Contribution from the Office of Farm Management and 
Farm Economics 
H. C. TAYLOR, Chief 
In Cooperation with the Iowa Agricultural Experiment Station 
C. F. CURTISS, Director 
Washington, D. C. PROFESSIONAL PAPER . August 23, 1920 
' FARM LAND VALUES IN IOWA. 
By L. C. Gray, Agricultural Economist in Charge of Land Economics, Office of Farm 
Management, and Farm Economics, and O. G. Luoyp, Assistant Chief in Farm 
Management, Iowa Agricultural Brperiment Station. 
CONTENTS. 
Page. Page. 
Purposes, scope, and methods of investiga- | Division of increment between different 
tions oe See NBs pete CLASS ESHA eae Ge ame Cake vinta ea 13 
Trend of land values in the country as a TRETIISO fc all Cees een ae Gap hs ree ae 14 
TOO) Os So. ise Hen ates ore Ese e 3 | Farm earnings and incomes of owners, 
Increase in the average value per acre of tenants, and landlords, 1913, 1915, 1918, 
Towa farm land since 1850..............-... 4 TG ae ee ce hed rey ape SE ot Soe) iat 20 
Range of prices paid for farm land.......... 7 | The farmer’s power of accumulation as indi- 
Extent of activity in buying and selling cated by data on net worth....-.......---: 33 
fAGING SOLOW Sew e See he asec e es Stee eee 8 | Summary of causes and probable effects of 
: Porone engaged in buying and selling apres Orla t hes Soo mees. a S2 se eka Se een ee 37 
PURPOSE, SCOPE, AND METHOD OF INVESTIGATION. 
The investigation upon which this bulletin is based was undertaken 
to determine the extent of increase in prices of Lowa farm lands, with 
special reference to the year 1919, the causes of the unusual activity 
in the buying and selling of lands in that year, and the probable 
effects of this activity upon the farming industry in the State of Iowa. 
_It was considered of special importance to ascertain what changes 
have occurred in the relationship between farm land values, farm earn- 
ings, and the shares received by landlords and by tenants, and to deter- 
mine the probable effect of these changes on the opportunity of farmers 
to acquire the land they cultivate. It was also believed that the in- 
vestigation would be of some value as a study of the phenomena of 
land speculation, an important topic in the general subject of land 
economics. — 
Unusual activity in land transfers and rapid increases in the prices 
of farm land have occurred over wide areas throughout the United 
States during the past year. If the resources for investigation had 
184592°—20—Bull. 874 —1 
