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Average U.S. farmland values unchanged

The USDA says the values of U.S. cropland, pastures, and real estate on farms held steady over the past year. That value of all land and buildings on farms averaged $3,160 per acre, all cropland averaged $4,100, and pastures averaged $1,400 per acre. The lack of a year to year change brings an end to a nine-year run of higher prices for pasture land, a three-year streak of improved prices for real estate, and two years of gains in cropland.

Year to year changes for Brownfield states:

Arkansas: Real Estate: $3,130 per acre, up $30 from 2019; All Cropland: $2,880 per acre, $30 higher than a year ago; Irrigated Cropland: $3,360 per acre, $20 higher than a year ago; Non-Irrigated Cropland: $2,100 per acre, $40 higher than a year ago; Pasture: $2,650 per acre, $40 more than last year

Illinois: Real Estate: $7,400 per acre, up $120 from 2019; Cropland: $7,300 per acre, steady with a year ago; Pasture: $3,200 per acre, $30 more than last year

Indiana: Real Estate: $6,600 per acre, up $20 from 2019; Cropland: $6,210 per acre, steady with a year ago; Pasture: $2,400 per acre, $50 less than last year

Iowa: Real Estate: $7,070 per acre, down $120 from 2019; Cropland: $7,170 per acre, $90 lower than a year ago;  Pasture: $2,690 per acre, $30 less than last year

Michigan: Real Estate: $4,950 per acre, down $10 from 2019; Cropland: $4,480 per acre, $20 lower than a year ago; Pasture: $2,600 per acre, $10 more than last year

Minnesota: Real Estate: $4,840 per acre, unchanged from 2019; Cropland: $4,800 per acre, $10 lower than a year ago; Pasture: $1,680 per acre, $20 less than last year

Missouri: Real Estate: $3,400 per acre, unchanged from 2019; All Cropland: $3,530 per acre, $40 higher than a year ago; Irrigated Cropland: $4,700 per acre, $70 lower than a year ago; Non-Irrigated Cropland: $3,400 per acre, $50 higher than a year ago; Pasture: $2,000 per acre, $20 more than last year

Nebraska: Real Estate: $2,790 per acre, down $60 from 2019; All Cropland: $4,360 per acre, $30 lower than a year ago; Irrigated Cropland: $5,820 per acre, $30 lower than a year ago; Non-Irrigated Cropland: $3,460 per acre, $30 lower than a year ago; Pasture: $1,040 per acre, $10 less than last year

Ohio: Real Estate: $6,350 per acre, up $60 from 2019; Cropland: $6,460 per acre, $60 higher than a year ago; Pasture: $3,370 per acre, $20 more than last year

South Dakota: Real Estate: $2,010 per acre, down $60 from 2019; All Cropland: $3,030 per acre, $100 lower than a year ago; Irrigated Cropland: Withheld to avoid disclosing data for individual operations; Non-Irrigated Cropland: $3,000 per acre, $100 lower than a year ago; Pasture: $1,050 per acre, unchanged from last year

Tennessee: Real Estate: $4,100 per acre, up $110 from 2019; Cropland: $3,990 per acre, $80 higher than a year ago; Pasture: $3,880 per acre, $20 more than last year

Wisconsin: Real Estate: $4,850, down $100 from 2019; Cropland: $4,770 per acre, $80 lower than a year ago; Pasture: $2,250 per acre, $60 less than last year

Year to year changes for regions containing Brownfield states:

Lake States (MI, MN, WI): Real Estate: $4,860 per acre, down $40 from 2019; All Cropland: $4,730 per acre, $30 lower than a year ago; Pasture: $2,050 per acre, $30 less than last year

Corn Belt (IL, IN, IA, MO, OH): Real Estate: $6,110 per acre, up $10 from 2019; All Cropland: $6,350 per acre, $10 lower than a year ago; Pasture: $2,340 per acre, $10 more than last year

Northern Plains (NE, SD): Real Estate: $2,120 per acre, down $50 from 2019; All Cropland: $2,740 per acre, $50 lower than a year ago; Pasture: $1,080 per acre, $10 less than last year

Appalachian (TN): Real Estate: $4,140 per acre, up $60 from 2019; All Cropland: $4,240 per acre, $50 higher than a year ago; Pasture: $3,550 per acre, $10 more than last year

Delta (AR): Real Estate: $3,130 per acre, up $30 from 2019; All Cropland: $2,960 per acre, $40 higher than a year ago; Pasture: $2,650 per acre, $30 more than last year

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