Northern Plains 2017 USDA NASS Land Values
Posted on: Sep 3, 2017
Each year the United States Department of Agriculture National Agricultural Statistics Service releases their Land Values Summary. As part of the summary, they report values per acre of farm real estate, cropland, cropland split into irrigated and non-irrigated where applicable, pastureland, and the value of farmland and buildings.
The report divides the country into economic regions: Northeast, Lake States, Corn Belt, Northern Plains, Appalachian, Southeast, Delta States, Southern Plains, Mountain, and Pacific.
The Northern Plains region includes Kansas, Nebraska, North Dakota, and South Dakota. Values of farm real estate climbed from $1,960 per acre in 2013 to $2,200 per acre in 2017. However, the 2017 figure represents a 1.8% decrease from 2016.
Cropland values decreased more in the Northern Plains region than in any other region in the country. The 2017 average value of $2,830 per acre represented a 4.4% decrease from 2016. The 2016 figure was also a decrease from the previous year, in which the value was $3,130, the high mark during the 2013 to 2017 period.
The average value per acre for land in pasture increased by 2.0% in 2017 to $1,040 per acre, the highest value in the 2013 to 2017 period.
Farm real estate average value per acre fell 1.7% from 2016 to 2017, with an average value per acre statewide of $2,900. In the period from 2013 to 2017, the value peaked at $3,120 per acre in 2014.
Cropland values in Nebraska decreased more than the region as a large. In 2017, the average value of cropland is $4,550, a 6.2% decline from 2016. Values peaked at $5,180 per acre in 2014. The value per acre is a blend of irrigated and non-irrigated properties. The 2017 values for each were $6,180 and $3,550 per acre respectively.
Pasture values increased to $930 per acre, a 2.2% increase from 2016.
We currently have a property available in Nebraska. Learn more about it here.
The 2017 average value per acre for farm real estate is $1,840, a slight increase over the 2016 figure of $1,830 per acre.
Cropland values in North Dakota stayed the same year-over-year from 2016 to 2017 at $2,000.
Pasture values increased to $850 per acre, a 2.4% increase from 2016.
Values of farm real estate declined 3.1% year-over-year from 2016 to 2017. In 2017 the average value per acre is $2,180, up from the 2013 amount of $1,690, but down from the peak in 2015 of $2,320 per acre.
Cropland values in South Dakota declined more than the region as a large. In 2017, the average value of cropland is $3,330, a 5.4% decline from 2016. Values peaked at $3,730 per acre in 2015. The value per acre is almost entirely non-irrigated properties. The 2017 values for non-irrigated properties in 2017 is $3,300, which represents a 5.7% decrease from 2016.
Pasture values increased to $1,060 per acre, a 3.9% increase from 2016.
We currently do not have any listings in South Dakota, but to see a selection of the properties we have sold in South Dakota, check out our website.
Post Categories: Industry News