Real Estate Values August 7, 2009
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.
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