The Contribution of Outdoor Recreation on Rural Property Sales in Mississippi

To estimate the contribution of outdoor recreation on rural property sales in Mississippi, information was collected from lenders and appraisers associated with the Federal Land Bank, Mossy Oak Properties, and Rutledge Investment Company on properties sold from 2003-2008 in three regions of Mississippi: Mississippi Delta/Hills Region, North Mississippi Region and South Mississippi Region. Property sales information was collected on 102,747 hectares (ha) of rural properties valued at $475.1 million. Hedonic regression analysis was used to quantify the contribution of outdoor recreation on Total Sale Value (TSV). Outdoor recreation contributed $160.6 million of the TSV. Forests comprised 71% of land coverage statewide. Attributes that were related to TSV statewide were row crop lands, bottomland hardwood forests, mixed pine-hardwood forests, planted pine forests, pasture/fallow fields, natural pine forests, upland hardwood forests, cutover woodland forests, and overnight sleeping quarters. Attributes related to TSV varied across the three regions. Statewide, hunting was expected to be conducted on at least 96% of the properties sold. In the Mississippi Delta/Hills Region, outdoor recreation contributed the greatest percent increase in land value (55.4%) and properties leased for a greater value ($58.70 per ha). Information provided by this study will encourage rural property owners to justify enhancements of wildlife habitats, provide recreational opportunities, and enhance their income. Rural land appraisers will use the information to appraise lands more accurately, and resource and regulatory agencies will use it to protect wetlands and other sensitive lands or mitigate for adverse impacts