Rural Land Values in the Southwest: First Half, 1997 Page: 20
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New Mexico Land Market Area 6
Spring 1997 Median Spring 1998 Annual
Price per Acre Projected Change in Annual
($) Typical Change Number (%) Cash Rent
Size in Value For Per Acre
Rural Land Low A ge High (acres) (%) Sale Sold ($)
Irrigated cropland 1,850 2,950 4,875 125 3 (25) (25) 80
Nonirrigated cropland 200 250 400 200 - - - -
Improved pasture - - - - - - - -
Native rangeland 38 75 108 10,000 5 (10) (10) 62
Urban fringe 500 2,000 10,000 40 -
Orchard or vineyard 7,000 9,500 12,000 60 0 0 0
Timberland - - - - - -
Sales with minerals transferred: 35%
Percentage of minerals transferred: 50%
Native rangeland Cost ($)
per animal unit 3,000 3,400 3,800
New Mexico Land Market Area 7
Spring 1997 Median Spring 1998 Annual
Price per Acre Projected Change in Annual
($) Typical Change Number (%) Cash Rent
Size in Value For Per Acre
Rural Land Low Average High (acres) (%) Sale Sold ($)
Irrigated cropland 1,200 1,750 3,000 160 0 (25) (25) 78
Nonirrigated cropland 200 250 400 200 - - - -
Improved pasture - - - - -
Native rangeland 38 75 98 6,250 3 (10) (10) 33
Urban fringe 500 2,000 10,000 40 -
Orchard or vineyard 7,000 9,500 12,000 60 0 0 0
Timberland - - - - - - -
Sales with minerals transferred: 20%
Percent age of minerals transferred: 25%Native rangeland
per animal unitCost ($)
2,500 3,000 3,500
20
Source: Real Estate Center at Texas A&M University
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Gilliland, Charles E. & Semien, Anthony. Rural Land Values in the Southwest: First Half, 1997, report, December 1997; College Station, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1586956/m1/24/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.