USDA has recently released their land value summary for 2023. Texas is located in the Southern Plains region along with Oklahoma.
Texas’s overall pasture land value (per acre) for the last 5 years shows an average increase of $540/acre:
- 2019 – 1,660
- 2020 – 1,680
- 2021 – 1,800
- 2022 – 2,050
- 2023 – 2,200
Following 2020 land prices continued to increase at higher rates. From 2022 – 2023 there was a 7.3% change in value per acre.
Southern Plains Region – pasture land values per acre for the last 5 years include:
- 2019 – 1,620
- 2020 – 1,640
- 2021 – 1,760
- 2022 – 2,000
- 2023 – 2,150
The Southern Plains Region has a 7.5% change in prices from 2022 to 2023.
There is roughly a $200 difference between the prices in Texas and the prices in Oklahoma, with Texas consistently averaging higher prices.
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