USDA reports the value of U.S. farm real estate rose 2.3% in 2017 versus 2016. That gain was marked by steady to weaker values in the Midwest and Northern Plains.
USDA states farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,080 per acre for 2017, up $70 per
acre (2.3%) from 2016 values. Regional changes in the average value of farm real estate ranged from a 8.7% increase in the Pacific region to a
1.8% decrease in the Northern Plains region. The highest farm real estate values were in the Corn Belt region at $6,260 per acre. The Mountain
region had the lowest farm real estate value at $1,130 per acre.
The value of U.S. cropland value remained unchanged at $4,090 per acre from the previous year. In the Southern Plains region, the average cropland value increased 6.0% from the previous year. However, in the Northern Plains region, cropland values decreased by 4.4%.
The U.S. pasture value increased by $20 per acre (1.5% from 2016 values. The Delta region had the highest increase of 2.9% from 2016. The largest decrease, at 1.7%, was in the Corn Belt region.