Farm real estate value, cropland rent higher
Nebraska’s farm real estate value rose from 2009, extending a trend that began in 1993, according to USDA’s National Agricultural Statistics Service, Nebraska Field Office.
Farm real estate value on Jan. 1 averaged $1,460 per acre, a record high. This is up $120 per acre or 9% higher than last year’s level.
Cropland value increased 11% from last year to $2,410 per acre, with dryland acreage averaging $2,000 per acre and irrigated cropland at $3,050. Pastureland, at $475 per acre, increased $25 from a year ago.
Cash rent paid to landlords in 2010 for cropland increased from last year and is also a new record high. Irrigated cropland rent averaged $170 per acre, an increase of $7.
Across the state, dryland rent averaged $103 per acre, up $6 from a year earlier. Pasture rented for cash, which averaged $16 per acre, is unchanged from the previous year.
County level averages of 2010 cash rents paid to landlords will be released Sept. 10.