Assessing land value can be a tricky thing. Depending on various factors such as location and usage, the values can be can greatly fluctuate, making it difficult to get a full and accurate value assigned. The American Farm Bureau Federation’s Market Intel recently published an article titled “Land Values and Cash Rents Falling in Some Areas” explaining the fluctuating land values per state and their trends over the years.
USDA’s recent 2019 Land Values report stated:
“The value of cropland in 2019 ties the record-high reached in 2015 and represents a 55% increase in cropland values over the last decade. The average value of pastureland was a record-high $1,400 per acre in 2019, up $30 per acre or 2.2% from the prior year. The average value of all agricultural land was $3,160 per acre in 2019, up $60 per acre or 1.9% from 2018.”
To read more about this study and see how your state is changing, click here.