USDA land value and cash rent reports

South Dakota

SIOUX FALLS – South Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2013, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2014 averaged $2,070 per acre. This is up $380 per acre or 22 percent higher than last year.

Cropland value increased 20 percent from last year to $3,430 per acre. Dryland cropland value averaged $3,400 per acre, up $580 from last year. Pastureland, at $860 per acre, increased $193 from a year ago.

Cash rent paid to landlords in 2014 for cropland increased from last year. Irrigated cropland rent averaged $193 per acre, an increase of $3 from last year. Dryland cropland rent averaged $114 per acre, up $10 from a year earlier. Pasture rented for cash, which averaged $22.00 per acre, is up $2.00 from the previous year.

North Dakota

FARGO, N.D. – North Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2013, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2014 averaged $1,820 per acre. This is up $270 per acre or 17 percent higher than last year.

Cropland value averaged $2,050 per acre, up $300 from last year. Pastureland, at $750 per acre, increased $172 from a year ago.

Cash rent paid to landlords in 2014 also increased from last year. Irrigated cropland rent averaged $166 per acre, an increase of $1 from last year. Non-irrigated cropland rent averaged $67 per acre, up $3 from a year earlier. Pasture rented for cash, which averaged $16 per acre, is up $1 from the previous year.

Minnesota

Minnesota’s farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,750 per acre, according to USDA’s National Agricultural Statistics Service. This is up $450 per acre or 10 percent higher than last year’s level.

Cropland value increased 11 percent from last year to $4,870 per acre. Pastureland, at $1,600 per acre, increased 1 percent from a year ago.

Cropland cash rent paid to Minnesota landlords in 2014 averaged $186.00 per acre according to the USDA, National Agricultural Statistics Service, Minnesota Field Office. Non irrigated cropland rent averaged $185.00 per acre, up $8.00 from a year earlier. Irrigated cropland rent averaged $210.00 per acre, an increase of $5.00 from last year. Pasture rented for cash, which averaged $26.00 per acre, is down $2.00 from the previous year.

Iowa

Iowa’s farm real estate value, a measurement of the value of all land and buildings on farms, averaged $8,500 per acre in 2014, according to USDA’s National Agricultural Statistics Service. This is up $800 per acre or 10 percent higher than last year’s level.

Cropland value increased 9 percent from last year to $8,750 per acre. Pastureland, at $3,400 per acre, increased 6 percent from a year ago.

Cropland cash rent paid to Iowa landlords in 2014 averaged $260.00 per acre according to the USDA, National Agricultural Statistics Service, Iowa Field Office. Non irrigated cropland rent averaged $260.00 per acre, up $5.00 from a year earlier. Irrigated cropland rent averaged $255.00 per acre, an increase of $10.00 from last year. Pasture rented for cash, which averaged $50.00 per acre, is up $1.00 from the previous year.

Nebraska

LINCOLN, Neb. – Nebraska’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2013, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2014 averaged $3,120 per acre. This is up $320 per acre or 11 percent higher than last year.

Cropland value increased 7 percent from last year to $5,180 per acre. Dryland cropland value averaged $4,000 per acre, up $270 from last year. Irrigated cropland value averaged $7,100 per acre, up $400 from a year ago. Pastureland, at $900 per acre, increased $257 from a year ago.

Cash rent paid to landlords in 2014 for cropland increased from last year. Irrigated cropland rent averaged $262 per acre, an increase of $2 from last year. Dryland cropland rent averaged $149 per acre, up $2 from a year earlier. Pasture rented for cash, which averaged $20.50 per acre, is up $0.50 from the previous year.

United States

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,950 per acre for 2014, up 8.1 percent from 2013 values. Regional changes in the average value of farm real estate ranged from a 16.3 percent increase in the Northern Plains region to 1.1 percent increase in the Southeast region. The highest farm real estate values were in the Corn Belt region at $6,370 per acre. The Mountain region had the lowest farm real estate value at $1,070 per acre.

The United States cropland value increased by $290 per acre (7.6 percent) to $4,100 per acre from the previous year. In the Northern Plains region, the average cropland value increased 13.6 from the previous year. However, in the Mountain region, cropland values decreased by 5.1 percent.

The United States pasture value increased to $1,300 per acre, or 11.1 percent above 2013. The Southeast region had the smallest percentage increase in pasture value, 0.5 percent above 2013. The Northern Plains had the highest increase at 26.5 percent.