Author:
William Larson (FHFA), Jessica Shui (FHFA), Morris Davis (Rutgers), Stephen Oliner (AEI)
*Updated 11/9/2020
Abstract:
Data from millions of appraisals in 2012-2019 are used to estimate residential land prices, the share of house value attributable to land, and related statistics down to the census-tract level for areas that include the vast majority of U.S. population and single-family housing. The results confirm predictions about land prices from canonical urban models. Over 2012-2019, we show that land prices rose faster than house prices in large metro areas, boosting the land share of house value, while the land share fell in smaller metros. The data are available for download at https://www.fhfa.gov/papers/wp1901.aspx.
Note: These indices are works in progress and all data, tables, figures, and other results in this working paper are subject to change.
File Attachments:
Land Prices - 2024 June
Land Prices - 2020 October
FAQs-Experimental Dataset for the Price of Residential Land
Working Paper 19-01
Updated land prices indices are available under file attachments as “Land Prices – 2024 June” and also through this blog post: https://www.fhfa.gov/blog/statistics/land-price-appreciation-during-the-covid-19-pandemic.