Nebraska's farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2022, according to USDA's National Agricultural Statistics Service. Farm real estate value for 2023 averaged $4,240 per acre, up $490 per acre (up 13%) from last year.

Cropland value increased 14% from last year to $6,830 per acre. Dryland cropland value averaged $5,550 per acre, $750 higher than last year. Irrigated cropland value averaged $8,900 per acre, $950 above a year ago. Pastureland, at $1,440 per acre, was $200 higher than the previous year.

Cash rents paid to landlords in 2023 for cropland increased from last year. Irrigated cropland rent averaged $277.00 per acre, $17.00 above last year. Dryland cropland rent averaged $164.00 per acre, $2.00 higher than a year earlier. Pasture rented for cash averaged $27.00 per acre, $1.00 above the previous year.

County level averages of 2023 cash rents paid to landlords will be released on Aug. 25, 2023 and will be available through NASS Quick Stats.