Factors influencing Illinois farmland values

Haixiao Huang, Gay Y. Miller, Bruce J. Sherrick, Miguel I. Gómez

Research output: Contribution to journalArticlepeer-review


A hedonic model of Illinois farmland values is estimated using county-level cross-section time-series data. Explanatory variables include land productivity, parcel size, improvements, distances to Chicago and other large cities, an urban-rural index, livestock production through swine operation scale and farm density measures, population density, income, and inflation. The inclusion of spatial and serial correlation components substantially improves the model fit. Farmland values decline with parcel size, ruralness, distance to Chicago and large cities, and swine farm density, and increase with soil productivity, population density, and personal income.

Original languageEnglish (US)
Pages (from-to)458-470
Number of pages13
JournalAmerican Journal of Agricultural Economics
Issue number2
StatePublished - May 2006


  • Farmland value
  • Hedonic price model
  • Spatial lag
  • Swine production
  • Time-series cross-section data

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics


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