THE IMPACT OF WILDLIFE RECREATION ON FARMLAND VALUES

By Jason Henderson and Sean Moore*
Center for the Study of Rural America
December  2005
 RWP 05-10
Research Division 
Federal Reserve Bank of Kansas City 

Abstract

            Wildlife recreation – hunting, fishing, and wildlife watching – appears to be an increasingly important past time for many Americans as people continue to increase their spending on wildlife recreation. Land lease and ownership expenditures by wildlife recreation participants are rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.

Keywords: farmland values, wildlife recreation

JEL classification: Q15

*Authors are Senior Economist and Research Associate, Center for the Study of Rural America, Federal Reserve Bank of Kansas City, 925 Grand Boulevard, Kansas City, MO 64198, USA. The authors benefited from the comments of participants at the Agricultural and Rural Finance Markets in Transition Conference. The views expressed are those of the authors and do not reflect the views of the Federal Reserve Bank of Kansas City or the Federal Reserve System.

Back to top       RWP home