U.S. farmland values reached another record high in 2026, but the pace of growth slowed.
USDA reports average farm real estate values rose 3.4% to $4,500 per acre, marking a sixth consecutive annual increase.
Since 2020, values have climbed nearly 44%.
Cropland values increased by 3.3% to $6,020 per acre, while pasture values rose 4.2% to $2,000 per acre.
Cash rents remained elevated, with average cropland rent falling just $1 to $160 per acre.
That’s still 15% above 2020 levels. Higher land values can strengthen farm balance sheets and provide landowners with additional equity.
But record purchase prices and high rents add pressure for beginning farmers, renters, and operations looking to expand.
Development, energy projects, and outside investment are also increasing competition for agricultural land in some markets.
The numbers show farmland remains a strong asset, but affordability continues to challenge producers facing tighter margins.
