Top States: Cropland Value 

$ per acre

New Jersey 12,900

California 11,740

Arizona 8,450

Delaware 8,300

Iowa 8,100

Illinois 7,450

Florida 6,810

Indiana 6,700

Maryland 6,620

Pennsylvania 6,260

About the Surveys

The National Agricultural Statistics 

Service conducts the annual June 

Area Survey to collect data on crop 

acreage, land use, grain stocks, farms, 

rents, and the value of land and sales. 

The national and state agricultural 

land values and rental rates paid by 

producers (cash rents) are from the 

2018 June Area Survey.

Data are for the 48 contiguous states.

Both the value of cropland and the rates producers pay to rent cropland (cash 

rents) increased from 2017 to 2018 at the national level, while individual 

states experienced increases or decreases. Pastureland value increased 

slightly while cash rental rates remained unchanged at the national level.

Agricultural Land Values

The average value of U.S. cropland (irrigated and non-irrigated) was $4,130 

per acre in 2018, increasing 1.0 percent from 2017. From 2004 to 2018, 

cropland value increased 136 percent. For U.S. pastureland, the average 

value in 2018 was 

$1,390 per acre, a $40 

increase over 2017 

and a 121 percent 

increase since 2004. 

(Fig. 1) 

At the state level, the 

value of cropland in 

2018 ranged from 

$1,030 per acre in 

Montana to $12,900 

per acre in New 

Jersey. (Fig. 2)

NASS Highlights November 2018 • No. 2018-8

U.S. cropland value and 

rents both up

2018 AGRICULTURAL LAND

Land Values and Cash Rents

Fig. 1. Value of U.S. Cropland and Pasture, 2004–2018

($ per acre)

Cropland Pasture

$500

$1,500

$2,500

$3,500

$4,500

$4,130

2004 2006 2008 2010 2012 2014 2016 2018

$1,390

Source: USDA NASS.

Fig. 2. Cropland Value by State, 2018

($ per acre)

>$8,000

$5,701−$8,000

$3,601−$5,700

$2,601−$3,600

<$2,601

Not published

U.S. = $4,130

Source: USDA NASS. Data are for the 48 contiguous states.

United States Department of Agriculture

National Agricultural Statistics Service www.nass.usda.gov
For pasture, the average value at the state level ranged 

from $370 per acre in New Mexico to $12,500 per acre in 

New Jersey. In nine states, the value of pasture did not 

change between 2017 and 2018; in the remaining states, 

the change in value ranged from a 3.3 percent decrease 

in Virginia to an 8.6 percent increase in Nebraska.

Farm Real Estate Value

U.S. farm real estate value – the value of all land and 

buildings on farms – averaged $3,140 per acre in 2018, 

an increase of $60 per acre from 2017. At the state level, 

average value in 2018 ranged from $530 per acre in New 

Mexico to $13,800 per acre in Rhode Island. The percent 

change ranged from a 

2.7 percent decrease in 

Kansas to a 10.4 percent 

increase in Missouri.

USDA is an equal opportunity provider, employer, and lender. 

www.nass.usda.gov

Rent Paid for Agricultural Land

At $138 per acre, the average rate to rent cropland in the 

United States in 2018 was $2 higher than in 2017. For 

irrigated cropland, the average rate per acre was $215 (up 

slightly from $212 in 2017) and for non-irrigated cropland 

it was $125 (up from 

$123). For pastureland, 

the average rental rate 

per acre remained 

unchanged at $12.50.

Among states, the rental cost per acre in 2018 ranged 

from $32 in Montana to $340 in California for all cropland. 

(Fig. 3) 

Fig. 3. Rent Paid for Cropland by State, 2018

($ per acre)

>$200

$141−$200

$91−$140

$60−$90

<$60

Not published

Not surveyed

U.S. = $138

Source: USDA NASS.

Rates ranged from $72 in Oklahoma to $528 in California 

for irrigated cropland; from $26.50 in Montana to $231 

in Iowa for non-irrigated cropland; and from $6.30 in 

Montana to $54 in Iowa for pastureland.

Top States: Farm Real Estate Value

($ per acre)

Rhode Island 13,800

New Jersey 12,700

Connecticut 11,200

Massachusetts 10,400

California 9,000

Delaware 8,600

Iowa 8,080

Illinois 7,450

Maryland 7,150

Indiana 7,100

Access the Data

Find land value data through the Quick Stats 2.0 database

(http://quickstats.nass.usda.gov).

• In Program, select “Survey”

• In Sector, select “Economics”

• In Group, select “Farms & Land & Assets”

• In Commodity, select “Ag Land”

• Select your data item, geographic level, and year

Find cash rents data through pre-defined Quick Stats queries:

State data: http://go.usa.gov/xkECH

County data: http://go.usa.gov/xkErk. The most recent county 

data are for 2017.

Top States: Cropland Cash Rent

($ per acre)

California 340

Arizona 253

Iowa 231

Illinois 223

Washington 203

Indiana 198

Nebraska 195

Minnesota 167

Idaho 160

Oregon 159

Of the top ten states in 

cropland rental rates, five 

are in the west and five 

are in the Midwest.

Four states have per farm 

real estate values higher 

than $10,000 per acre. Six 

of the top ten states are in 

the northeast.