August 7, 2009

Nebraska Farm Real Estate Value and Cash Rents Higher

Nebraska's farm real estate value rose from 2008, extending a trend that began in 1993, according to USDA's National Agricultural Statistics Service, Nebraska Field Office.

Farm real estate value on January 1, 2009, averaged $1,340 per acre, a record high. This is up $10 per acre or 1% higher than last year's level.

Cropland value increased 6% from last year to $2,180 per acre, with dryland acreage averaging $1,850 per acre and irrigated cropland at $2,700. Pastureland, at $450 per acre, declined 6% from a year ago.

Cash rents paid to landlords in 2009 for cropland increased from last year and were also a new record high. Irrigated cropland rent averaged $164 per acre, an increase of $6. Across the state, dryland rent averaged $100 per acre, up $3 from a year earlier. Pasture rented for cash, which averaged $15.50 per acre, was unchanged from the previous year. 

More Information

Access the National publication for this release at:

http://usda.mannlib.cornell.edu/usda/current/AgriLandVa/AgriLandVa-08-04-2009.pdf

Find agricultural statistics for your county, state, and the nation at

www.nass.usda.gov