Urban Sprawl and Farmland Prices

Grigorios Livanis, Charles B Moss (), Vincent E. Breneman and Richard F. Nehring

No 15657, Working Papers from University of Florida, International Agricultural Trade and Policy Center

Abstract: A theoretical model of farmland valuation is developed that allows urban sprawl to affect farmland values through the conversion of farmland to urban uses, shifts in production to highervalued crops, and the speculative effect of urban pressure on farmland values. This model is estimated using county level data in the continental United States. Evidence is found for all three effects of urban sprawl on farmland values, with a significant contribution of urban pressure on net agricultural returns around major urban centers. Ancillary evidence supports that the latter effect is attributable to shifts to high-valued crops.

Keywords: hedonic determinants; land prices; spatial productivity; urban sprawl; Land Economics/Use; R14; Q15; D24; C33 (search for similar items in EconPapers)
Date: 2005
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Journal Article: Urban Sprawl and Farmland Prices (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:ags:uflowp:15657

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