The average value of U.S. farmland has jumped 12.4% this year to $3,800 an acre, a $420-an-acre increase over 2021, according to USDA’s annual Land Values report.
Cropland values have increased even more – by 14.3% to an average of $5,050 an acre. Pasture values are up 11.5%.
The biggest increases are in the western Corn Belt and central Plains. Iowa land is now worth an average of $9,400 an acre, a 21.4% increase over 2021, while Minnesota land values have jumped 17.4% to $6,150 on average.
Other increases: Kansas, 25.2% to $2,630 an acre; Nebraska, 21% to $3,750, and South Dakota, 18.7% to $2,600.
Elsewhere: California farmland values increased 10.1% to $12,000 an acre. The highest values are in the Northeast, with average values in several states topping $15,000 an acre.
To read the entire report click here.