Real Estate Values August 7, 2009

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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