North Dakota farmland market stays strong

By Scout Nelson

North Dakota farmland continues to hold strong, with values remaining steady despite market fluctuations. According to AgCountry Farm Credit Services, the 11 benchmark farms in the state showed no change in value over the past six months, and a small increase of 0.70% over the past year.

Over longer periods, farmland in North Dakota shows significant appreciation: 8.20% over two years, 72.60% over five years, and 70.07% over ten years. These numbers highlight the long-term strength of the agricultural land market in the region.

Cropland benchmark farms in North Dakota experienced a minor decline of 0.90% over six months, with no change across 12 months. Ranch and pasture land, on the other hand, showed notable strength. The state’s pasture benchmark value rose 8.10% over both six and twelve months, driven by demand from the cattle industry.

“One contributing factor is that multi-generational farms continue showing up at auctions, looking to convert rented acres into owned land. That steady, competitive demand is what’s kept the market durable, even in the face of higher interest rates and lower commodity prices.” said Mark Vetter, AgCountry’s executive vice president of business development. 

“Families are looking to reduce their exposure to the cash rent market, which can carry increasing risk. In our region, cash rents are still lower than in places like Iowa or Nebraska, but yields aren’t far behind – so there’s a clear incentive to lock in ownership now. Many farms are trying to get ahead of future rent increases by securing land while they can.”

The ongoing presence of farmers and ranchers at land auctions highlights the desire for ownership amid rising interest rates and lower crop prices. Limited land supply also supports market strength.

Overall, North Dakota farmland shows resilience and continues to attract investment from experienced agricultural producers focused on long-term stability.

Visit AgCountry’s land value summary for more.

Photo Credit: gettyimages-ianchrisgraham