USDA’s 2020 Land Values report says the average value of cropland, including all land and buildings on farms, was $3,160 per acre in 2020.
That’s unchanged from 2019’s record high.
The average value for pastureland was $1,400 an acre this year, unchanged from 2019.
Cash rental rates for cropland averaged $139 per acre in 2020, down a dollar an acre from 2019.
Densely-populated urban areas like Rhode Island, New Jersey, Connecticut, and Massachusetts, represent four of the top five states in terms of average agricultural land values.
California rounds out the top five.
