USDA Marks 7% Surge in Farm Real Estate

USDA's annual survey finds a near-8% boost in the value of U.S. cropland.
USDA's annual survey finds a near-8% boost in the value of U.S. cropland.
(USDA)

The value of the nation’s farm real estate, a measurement of the value of all land and buildings on farms, rose 7% for 2021, reports USDA. Its annual update pegged the average value of an acre of farm real estate at $3,380, up $220 per acre from 2020.

The annual survey pegged the average value of U.S. cropland at $4,420 per acre, an increase of $320 per acre (7.8%) from the previous year. This year’s figure marks a record high in cropland values. Until this year, the value of U.S. cropland had hovered narrowly between 2017’s $4,030 an acre and 2015’s $4,100 an acre. U.S. cropland crossed the $4,000 mark in 2014. This year’s average is up 75% compared to 2007’s $2,530 an acre.

The Northern Plains led increases in cropland values. Kansas, Nebraska, and the Dakotas registered an annual gain of 12%. Kansas and Nebraska paced the increase with gains of 13.9% and 13.8%, respectively. South Dakota followed with a boost of 11.9% followed by a 6.7% rise in North Dakota.

The Lake States follow with a regional increase of 9.1%. Wisconsin marks a 10.7% rise followed by a 9.8% gain in Minnesota and a 4.9% boost in Michigan.

The Corn Belt notches an 8.3% gain with Indiana pacing the surge with a 9.5% boost. Iowa follows with an 8.9% increase. Illinois notches an 8.2% rise. Missouri marks a 7.9% boost and Ohio registers a 5.9% gain.

The Pacific region registers a 6.9% increase. California marks a 7.4% rise followed by Oregon’s 6.1% boost and Washington’s 3.4% gain. The Southern Plains post a 6.2% boost with Oklahoma up 7.1% and Texas up 5.9%.

The Delta lists the smallest annual gain at 1.7%. The Appalachian and Southeast regions both note 2.6% annual increases. The Mountain States region records a 4.5% annual gain.

Meanwhile, the USDA notes the value of U.S. pastureland rose 5.7% compared to 2020. The agency places the value of an acre of U.S. pasture at $1,480, up $80 versus a year earlier.

Map shows average cropland values by state

table shows changes in average farmland values over time

table shows changes in average pastureland valuestable shows changes in average pastureland values over time

 

Latest News

Ahead of the Open | March 28, 2024
Ahead of the Open | March 28, 2024

Corn, soybeans and wheat traded in tight ranges overnight, with grains showing relative strength into the break.

Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales exceed expectations, while soybeans miss

Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.

First Thing Today | March 28, 2024
First Thing Today | March 28, 2024

Corn, soybeans and wheat traded in narrow ranges during the overnight session ahead of USDA’s reports later this morning.

After the Bell | March 27, 2024
After the Bell | March 27, 2024

After the Bell | March 27, 2024

Pro Farmer's Daily Advice Monitor
Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

Market Watch | March 27, 2024
Market Watch | March 27, 2024

Cash cattle prices soar to all-time high.