Nebraska Farm Real Estate Value and Cropland Rent Higher - UNL CropWatch, Aug. 3, 2012

Nebraska Farm Real Estate Value and Cropland Rent Higher - UNL CropWatch, Aug. 3, 2012

August 3, 2012

Nebraska's farm real estate value, a measurement of the value of all land and buildings on farms, rose from 2011, extending a trend that began in 1993, according to USDA’s National Agricultural Statistics Service, Nebraska Field Office. Farm real estate value for 2012 averaged $2,590 per acre. This is up $650 per acre or 34% higher than last year’s revised level.

Cropland value increased 36% from last year to $4,480 per acre, with dryland acreage averaging $3,500 per acre and irrigated cropland at $6,000. Pastureland, at $660 per acre, increased $130 from a year ago.

Cash rent paid to landlords in 2012 for cropland increased from last year. Irrigated cropland rent averaged $225 per acre, an increase of $35. Statewide, dryland rent averaged $131 per acre, up $16 from a year earlier. Pasture rented for cash, which averaged $17.50 per acre, is up $1.00 from the previous year.

County level averages of 2012 cash rents paid to landlords will be released September 7 and will be available through NASS Quick Stats.

Nationally, farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,650 per acre for 2012, up 10.9% from revised 2011 values.  Regional changes in the average value of farm real estate ranged from a 26.7% increase in the Northern Plains region to a 4.1% decline in the Southeast region.  The highest farm real estate values were in the Corn Belt region at $5,560 per acre.  The Mountain region had the lowest farm real estate value at $974 per acre.

The United States cropland value increased by $450 per acre (14.5%) to $3,550 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 31.1% and 18.5%, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 3.8%. Nebraska, Kansas, North Dakota, and South Dakota are in the USDA Northern Plains region.  Illinois, Indiana, Iowa, Missouri, and Ohio are in the Corn Belt region.

The United States pasture value increased to $1,150 per acre, or 4.5% above 2011. The Southeast region had the largest percentage decrease in pasture value, 7.0% below 2011. The Northern Plains had the highest increase at 21.9%.

For more information see the national report at USDA August 2012 Land Values Summary.

USDA News Release and Report