Hot real estate prices extend to rural land

Hot real estate prices extend to rural land: "WASHINGTON -- March 9, 2006 -- The fastest-growing commodity in Florida farm country last year? Land values, which jumped 50 percent to 88 percent, depending on the area.

While not quite as dramatic, a similar story has been playing out across the country. Rural real estate prices soared 11 percent to an average of $1,510 per acre from Jan. 1, 2004, to Jan. 1, 2005. That's the fastest annual increase since 1981 and the biggest on record in dollar terms, according to the U.S. Department of Agriculture (USDA).

More recent data from Iowa State University show prices in Iowa rose nearly 11 percent in 2005. In Texas, the median rural land price rose 15 percent in 2005. State and USDA estimates differ because of sampling times and techniques but show similar trends."