An average acre of U.S. cropland is $250, 4.7%, higher than a year earlier, reports USDA. In it’s annual survey of U.S. farm real estate, cropland and pasture land, USDA pegs the average value of an acre of cropland at $5,570 an acre.
In addition, USDA says the farm real estate value, a measurement of the value of all land and buildings on farms, averages $4,170 per acre for 2024, up $200 per acre (5.0%) from 2023. The United States pasture value averages $1,830 per acre, an increase of $90 per acre (5.2% from 2023.
Looking at cropland values on a regional basis, USDA says Appalachian states rose 8.4% and the Southeast saw a 7.3% gain. The Northern Plains sport a 6.6% rise followed by gains of 4% to 4.6% in the Lake States, Corn Belt, Southern Plains and Delta.