South Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2023, according to USDA’s
National Agricultural Statistics Service.
Farm real estate value for 2024 averaged $2,780 per acre, up $150 per acre (up 6%) from last year.
Cropland value increased 6% from last year to $4,350 per acre. Dryland cropland value averaged $4,330 per acre, $260 higher than last year. Pastureland, at $1,270 per acre, was $60 higher than the previous year.
Cash rents paid to landlords in 2024 for cropland increased from last year.
Irrigated cropland rent averaged $225.00 per acre, $6.00 above last year.
Dryland cropland rent averaged $131.00 per acre, $5.00 higher than a year earlier.
Pasture rented for cash averaged $31.50 per acre, $1.50 above the previous year.
In North Dakota, farm real estate value increased from 2023, according to USDA NASS.
Farm real estate value for 2024 averaged $2,260 per acre, up $120 per acre (up 6%) from last year.
Cropland value increased 6% from last year to $2,600 per acre. Pastureland, at $1,050 per acre, was $63 higher than the previous year.
Cash rents paid to landlords in 2024 for cropland increased from last year.
Irrigated cropland rent averaged $192.00 per acre, $3.00 above last year.
Dryland cropland rent averaged $81.50 per acre, $5.50 higher than a year earlier.
Pasture rented for cash averaged $21.50 per acre, $1.00 above the previous year.
County level averages of 2024 cash rents paid to landlords will be released on August 23, 2024, and will be available through NASS Quick Stats, located at http://quickstats.nass.usda.gov/.
Access the National publication for this release at: https://usda.library.cornell.edu/concern/publications/pn89d6567.
