Farmland values holding steady

According to USDA officials, farmland values will remain steady for a second year in a row.

“In 2020, the average farm real estate values, which includes both land and buildings, stayed perfectly constant with 2019 at $3,150 dollars on average per acre,” Cindy Nickerson, a chief economist with USDA, states. “In terms of crop land, on a national basis, again it was constant valued at $4,100 dollars per acre on average, and pasture land remained constant at $1,400 dollars per acre, nationally.”

“Farmland values are an asset that incorporates the ability of the land to earn rent far into the future. So, not the type of barometer that is going to change on the day-to-day, week-to-week basis,” she adds.