The North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers (ASFMRA) has released its 18th Annual Agricultural Land Price and Cash Rent Survey.

Report readers are asked to keep in mind any assumptions made from the report could be misleading, especially given the wide variety of physical characteristics found in each county.  Therefore, this report should never take the place of a well-trained land professional.

The report includes 2014 Sales and Cash Rent Contracts for 55 counties and/or market areas in North Dakota.  High and low (cropland and pasture) prices as well as cash rental contract amounts are provided on a per acre basis.  The statistical mean (or average) and median is calculated for reported cropland and pasture prices.

It is important to note that the reported data is only a “snapshot” of 2014 and does not account for any changes in market conditions that may have occurred during the calendar year.

A regional index calculated for five geographical areas indicates a change from the moderate to strong growth of recent years.  The Red River Valley and Northeastern Counties both indicated a slight decline, while the Northwestern/North Central and Southeastern Counties were relatively unchanged.  The Southwestern Counties indicated the highest change at +17%.

Our Chapter’s State Index, of which gives equal weight to all 55 reporting counties and/or market areas, indicates a decrease of 1% for reported 2014 North Dakota Cropland Prices (when compared to 2013 prices).  This follows four straight years of double-digit increases.