Rural Land Values in the Southwest: Second Half, 1997 Page: 23
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New Mexico Land Market Area 3
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 1,700 2,550 3,450 185 0 - - 80
Nonirigated cropland 213 300 450 260 - -
Improved pasture 175 250 275 320 -
Native rangeland 53 75 125 5,000 - - 6
Urban fringe - - - - -
Orchard or vineyard - - -
Timberland - - -
Sales with minerals transferred: 50%
Percentage of minerals transferred: 50%
Native rangeland Cost ($)
er animal unit 2,500 - -
New Mexico Land Market Area 4
Fall 1997 Median Fall 1998 Annual
Price per Acre Projected Change in Annual
($) Typical Change Number (%) Cash Rent
Size in Value For Per Acre
Rural Land Low A High (acres) (%) Sale Sold ($)
Irrigated cropland 3,000 4,500 6,000 50 0 - - 80
Nonitrigated cropland 200 250 400 200 - -
Improved pasture - - - -
Native rangeland 40 75 125 -
Urban fringe - - -
Orchard or vineyard -
Timberland -
Sales with minerals transferred: 50%
Percentage of minerals transferred: 50%Native rangeland
per animal unitCost ($)
1 2,500 1
23
Source: Real Estate Center at Texas A&M University
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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/m1/27/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.