Rural Land Values in the Southwest: First Half, 1997 Page: 19
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New Mexico Land Market Area 4
Spring 1997 Median Spring 1998 Annual
Price per Acre Projected Change in Annual
($) Typical Change Number (%) Cash Rent
Size in Value For Per Acre
Rural Land Low A High (acres) (%) Sale Sold ($)
Irrigated cropland 2,100 3,000 4,000 225 2 10 5 80
Nonirrigated cropland 200 250 400 200 - - - -
Improved pasture - - - - -
Native rangeland 40 75 125 - - - - 62
Urban fringe - - - - -
Orchard or vineyard - - - - - .
Timberland - - - - -
Sales with minerals transferred: 55%
Percentgage of minerals transferred: 44%
Native rangeland Cost ($)
per animal unit 2,500 3,000 3,500
New Mexico Land Market Area 5
Spring 1997 Median Spring 1998 Annual
Price per Acre Projected Change in Annual
($) Typical Change Number (%) Cash Rent
Size in Value For Per Acre
Rural Land Low A High (acres) (%) Sale Sold ($)
Irrigated cropland 2,700 4,200 5,800 50 4 (25) (25) 2,210
Nonrigated cropland 200 265 450 200 2 - -
Imprcoved pasture - - - -
Native rangeland 40 75 125 7,500 5 (10) (10) 62
Urban fringe 750 3,000 5,002 40 60
Orchard or vineyard 7,000 9,500 12,000 60 0 0 0
Timberland - -
Sales with minerals transferred: 35%
Percentgage of minerals transferred: 50%Native rangeland
per animal unitCost ($)
2.900 3,400 3,800
19
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/m1/23/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.