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Factors Affecting Land Prices in a Rural New Jersey County

Published online by Cambridge University Press:  10 May 2017

Carl A. Northcraft  and
Leslie E. Small
Carl A. Northcraft
Affiliation:
Department of Agricultural Economics and Marketing, Cook College – New Jersey Agricultural Experiment Station, Rutgers University
Leslie E. Small
Affiliation:
Department of Agricultural Economics and Marketing, Cook College – New Jersey Agricultural Experiment Station, Rutgers University
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Extract

Much attention has been given in recent years to the conversion of substantial amounts of rural land to urban uses. A variety of policies designed to encourage the retention of rural open space have been either proposed or implemented by many state and local governments. Because the decision to convert land to urban uses is generally a private decision in response to market forces, an understanding of these market forces should facilitate better policy development and implementation. This paper reports on a research project designed to explore the forces affecting rural land prices in areas where the rural land market is significantly influenced by the demand for land for urban or suburban uses. Publicly available data on transfers of rural land were analyzed, using a multiple regression model, to both identify and quantify the importance of factors affecting rural land prices.

Type
Contributed Papers
Information
Journal of the Northeastern Agricultural Economics Council , Volume 8 , Issue 2 , October 1979 , pp. 143 - 151
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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Footnotes

Paper of the Journal Series, New Jersey Agricultural Experiment Station, Cook College, Rutgers University, New Brunswick, New Jersey. This work was performed as part of NJAES Project No. 891, supported by the New Jersey Agricultural Experiment Station and by Regional Research funds of the U.S. Department of Agriculture. The authors appreciate the helpful comments of two anonymous reviewers. All deficiencies of the paper are the responsibility of the authors.

References

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