Top States: Cropland Value 

$ per acre

New Jersey 13,800

California 12,900

Delaware 8,600

Arizona 7,650

Maryland 7,380

Illinois 7,300

Florida 7,190

Iowa 7,170

Pennsylvania 7,100

Ohio 6,460

About the Surveys

The national and state agricultural 

land values are from the 2020 

Agricultural Land Values Survey 

conducted during June and early July. 

The rental rates (cash rents) paid by 

producers are from the 2020 Cash 

Rents Survey.

Land value data are for the 48 

contiguous states. Cash rent data 

are for the 48 contiguous states and 

Hawaii.

The value of cropland remained unchanged in 2020 from the previous year, 

while the rates producers pay to rent cropland (cash rents) showed a slight 

decrease at the national level. Individual states experienced increases or 

decreases. For pastureland, both value and cash rent rates did not change at 

the national level.

Agricultural Land Values

The average value of U.S. cropland (irrigated and non-irrigated) was $4,100 

per acre in 2020, no 

change from 2019. 

From 2006 to 2020, 

cropland value 

increased 78%. For 

U.S. pastureland, 

the average value 

in 2020 was $1,400 

per acre, no change 

from 2019 and a 

46% increase since 

2006. (Fig. 1)

At the state level, 

the value of 

cropland in 2020 

ranged from 

$1,030 per acre 

in Montana to 

$13,800 per acre in 

New Jersey. (Fig. 2)

NASS Highlights October 2020 • No. 2020-9

U.S. cropland value 

held steady in 2020 

2020 AGRICULTURAL LAND

Land Values and Cash Rents

Fig. 1. Value of U.S. Cropland and Pasture, 2006–2020 ($ per acre)

Cropland Pasture

500

1,500

2,500

3,500

4,500

4,100

2006 2008 2010 2012 2014 2016 2018 2020

1,400

Source: USDA NASS.

Fig. 2. Cropland Value by State, 2020 ($ per acre)

>8,000

5,701−8,000

3,601−5,700

2,601−3,600

<2,601

Not published

U.S. = 4,100

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

United States Department of Agriculture

National Agricultural Statistics Service www.nass.usda.gov
Among states, the rental cost per acre in 2020 ranged 

from $34 in Montana to $439 in California for all cropland. 

(Fig. 3) 

Fig. 3. Rent Paid for Cropland by State, 2020 ($ per acre)

>200

141−200

101-140

60-100

<60

Not published

Not surveyed

U.S. = 139

Source: USDA NASS.

For irrigated cropland, rates ranged from $80 in 

Oklahoma to $497 in California; for non-irrigated 

cropland, they ranged from $16 in Wyoming to $230 

in Hawaii and Iowa; and for pastureland, from $2.40 in 

Arizona to $55 in Delaware.

For pasture, the average value at the state level ranged 

from $420 per acre in New Mexico to $13,300 in New 

Jersey. States with no change in the value of pasture 

from 2019 to 2020 were located in the Northern Plains 

and Rockies; in the remaining states, the change in value 

ranged from a 3.7% decrease in North Dakota to a 3.2% 

increase in Idaho.

Farm Real Estate Value

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

buildings on farms – averaged $3,160 per acre in 2020, 

unchanged from 2019. At the state level, average value 

in 2020 ranged from 

$575 per acre in New 

Mexico to $16,000 

in Rhode Island. 

The percent change 

ranged from a 3.1% 

decrease in Kansas 

and New York to a 

3.7% increase in Idaho.

Rent Paid for Agricultural Land

At $139 per acre, the average rate to rent cropland in 

the United States in 2020 was $1 lower than in 2019. The 

average rate per acre for irrigated cropland was $216 

(down from $220 

in 2019) and nonirrigated cropland 

was $126 (down 

from $127 in 2019). 

For pastureland, the 

average rental rate per 

acre at $13 is the same 

as 2019.

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

www.nass.usda.gov

Top States: Farm Real Estate Value

($ per acre)

Rhode Island 16,000

New Jersey 13,600

Connecticut 12,000

Massachusetts 11,300

California 10,000

Delaware 8,950

Maryland 8,080

Illinois 7,400

Iowa 7,070

Indiana 6,600

Access the Data

Find land value data through the Quick Stats 2.0 database

(quickstats.nass.usda.gov).

• In Program, select “Survey”

• In Sector, select “Economics”

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

• In Commodity, select “Ag Land”

• In Category, select “Asset Value”

• Select your data item, geographic level, and year

Find national, state, and county cash rents data here:

www.nass.usda.gov/Surveys/Guide_to_NASS_Surveys/Cash_

Rents_by_County/

Top States: Cropland Cash Rent

($ per acre)

California 439

Hawaii 371

Arizona 275

Iowa 230

Illinois 222

Washington 207

Nebraska 197

Indiana 194

Idaho 171

Minnesota 164

Five states have average 

farm real estate values of 

$10,000 per acre or higher.