Rural Land Values in the Southwest: Second Half, 1997 Page: 22
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New Mexico Land Market Area 1
Fall 1997 Median Fall 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 3,000 4,500 6,000 50 0 - 80Nonirrigated cropland
Improved pasture
Native rangeland
Urban fringe
Orchard or vineyard
Timberland200
40250
75400
125200
0
___ j I - I -
Sales with minerals transferred: 50%
Percentage of minerals transferred: 50%Native rangeland
per animal unitCost ($)
1 2,500 -I -
Rural Land
Irrigated cropland
Nonirrigated cropland
Improved pasture
Native rangeland
Urban fringe
Orchard or vineyard
TimberlandFall 1997 Median
Price per Acre
($)
Low AveraI I _
3,000
200
404,500
250
75Sales with minerals transferred: 50%
Percentage of minerals transferred: 50%New Mexico Land Market Area 2
Fall 1998 Annual
Projected Change in Annual
Typical Change Number (%) Cash Rent
Size in Value For Per Acre
ge _igh (acres) (%) Sale Sold ($)
6,000 50 0 . - 80400
125200
1 ____________1. ______________t ________ I
Native rangeland
per animal unitCost ($)
2,500 - -Source: Real Estate Center at Texas A&M University
22
i
2,500
- I -
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Gilliland, Charles E. & Semien, Anthony. Rural Land Values in the Southwest: Second Half, 1997, report, July 1998; College Station, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1586957/m1/26/?q=%221997~%22: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.