North Dakota's farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2021, according to USDA's National Agricultural Statistics Service. Farm real estate value for 2022 averaged $2,050 per acre, up $230 per acre (up 13%) from last year.
Cropland value increased 14% from last year to $2,350 per acre. Pastureland, at $930 per acre, was $90 higher than the previous year.
Cash rents paid to landlords in 2022 for cropland were mixed from last year. Irrigated cropland rent averaged $188.00 per acre, unchanged from last year. Dryland cropland rent averaged $73.00 per acre, $0.50 higher than a year earlier. Pasture rented for cash averaged $19.50 per acre, $1.00 above the previous year.
County level averages of 2022 cash rents paid to landlords will be released on Aug. 26.
Categories: North Dakota, General