South Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, was unchanged from 2018, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2019 averaged $2,070 per acre.
Cropland value increased slightly from last year to $3,130 per acre. Dryland cropland value averaged $3,100 per acre, unchanged from last year. Pastureland, at $1,050 per acre, was $10 higher than the previous year.
Cash rents paid to landlords in 2019 for cropland were mixed from last year. Irrigated cropland rent averaged $194 per acre, $5 above last year. Dryland cropland rent averaged $117 per acre, unchanged from a year earlier.
Pasture rented for cash averaged $26 per acre, $3 above the previous year.
In North Dakota, farm real estate value increased from 2018. Farm real estate value for 2019 averaged $1,740 per acre, up $30 per acre (2 percent) from last year.
Cropland value increased 3 percent from last year to $1,920 per acre. Pastureland, at $820 per
acre, was $44 higher than the previous year.
Cash rents paid to landlords in 2019 for cropland increased from last year. Irrigated cropland
rent averaged $164 per acre, $1 above last year. Dryland cropland rent averaged $69 per acre,
$5 higher than a year earlier.
Pasture rented for cash averaged $17.50 per acre, $0.50 above the
previous year.
County level averages of 2019 cash rents paid to landlords will be released on September 10 and will be available through NASS Quick Stats, located at http://quickstats.nass.usda.gov/.
