YOUR TEXAS AGRICULTURE MINUTE
Texas urbanites buying rural land at record level
By Gary Joiner
The dream of many Texans is to buy a piece of it and become a proud landowner.
The sentiment became a stampede in 2020.
A report by the Texas Real Estate Research Center at Texas A&M University shows purchases of rural land in the state last year by city-dwelling Texans reached a record high. Urbanites bought 552,707 acres for $1.69 billion.
There were 7,684 land sales. That’s a big number. It represents an increase of nearly 29% over the previous year.
The average size of a land sale was 1,139 acres. That’s about 13% below 2019.
As expected, the much higher demand for rural land drove the average price per acre up 3% to $3,064.
The Center says rural markets near Austin, Waco and the Hill Country saw some of the largest growth in the state.
The desire to own rural land is understandable. Let’s hope the properties remain working lands, because Texas agriculture needs every acre it can hold on to.
The preceding commentary is brought to you by Texas Farm Bureau, the “Voice of Texas Agriculture.” Called “Your Texas Agriculture Minute,” TFB will issue thought-provoking editorials each week—via print and audio—to spark understanding of agriculture in the Lone Star State and its impact on each and every Texan.
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