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Fort Worth Prairie (LMA 23)
Rural Land Prices

Counties: Hood, Johnson, Palo Pinto, Parker, Somervell, Tarrant, Wise

Year Median
Tract Size
(acres)
Nominal Real
Median*
Price
Per Acre
Percentage
Change
Annual
Compound
5-Year
Growth
Rate
Median*
Price
per Acre
Percentage
Change
Annual
Compound
5-Year
Growth
Rate
1966 75 225 - - 225 - -
1967 61 261 16 - 253 13 -
1968 60 293 12 - 273 8 -
1969 54 360 23 - 319 17 -
1970 49 350 -3 - 295 -8 -
1971 42 434 24 14 348 18 9
1972 40 450 4 12 346 -1 6
1973 72 503 12 11 366 6 6
1974 68 666 32 13 444 21 7
1975 64 691 4 15 421 -5 7
1976 54 792 15 13 457 8 6
1977 40 839 6 13 455 0 6
1978 47 950 13 14 481 6 6
1979 50 908 -4 6 425 -12 -1
1980 76 831 -8 4 356 -16 -3
1981 75 1000 20 5 392 10 -3
1982 52 1236 24 8 457 16 0
1983 63 1178 -5 4 419 -8 -3
1984 105 1350 15 8 462 10 2
1985 75 1500 11 13 499 8 7
1986 64 1700 13 11 553 11 7
1987 55 1512 -11 4 479 -13 1
1988 54 1600 6 6 490 2 3
1989 58 1300 -19 -1 384 -22 -4
1990 72 1097 -16 -6 312 -19 -9
1991 86 914 -17 -12 251 -19 -15
1992 76 968 6 -9 260 4 -12
1993 98 1229 27 -5 322 24 -8
1994 67 1275 4 0 327 2 -3
1995 69 1200 -6 2 302 -8 -1
1996 52 1650 38 13 407 35 10
1997 58 1800 9 13 437 7 11
1998 56 2000 11 10 480 10 8
1999 50 2500 25 14 592 23 13
2000 50 2350 -6 14 545 -8 13
2001 34 3000 28 13 679 25 11
2002 50 2598 -13 8 578 -15 6
2003 36 3321 28 11 723 25 9
2004 40 3676 11 8 778 8 6
2005 30 4250 16 13 874 12 10
2006 31 5325 25 12 1058 21 9
2007 26 6500 22 20 1257 19 17
2008 40 7500 15 18 1419 13 14

Source: Real Estate Center at Texas A&M University.
Note: Real values are in 1966 dollars.
* State medians are an average of the land market area medians weighted by the percentage of land in each area.

 
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