The average farm real estate values for the U.S. is $3,160 per acre in 2019. That’s up $60 from 2018, according to USDA’s 2019 Land Values Summary.
Cropland values are up $50 for 2019, with a national average of $4,100 per acre. That ties the previous high for U.S. cropland values, which was reached in 2015.
Pasture values increased by $30 per acre from 2018 values to a national average of $1,400. That’s the highest value for pasture land USDA has recorded.
On a regional basis, the Pacific states of California, Oregon and Washington, saw the largest increase in cropland values—5.3%. Idaho, California and Delaware all had year-over-year increases in cropland values of 5% or more.
The Southeast states of Alabama, Florida, Georgia and South Carolina dropped 1% from year-ago levels, as did the Lake States of Michigan, Minnesota and Wisconsin. South Carolina has the largest year-over-year drop—6.4%—in cropland values.
Pasture values in the Southern Plains region, which includes Oklahoma and Texas, showed the highest increase of 5.2% above year-ago levels. No region shows year-over-year declines.