USDA Reports Soaring Cropland Values and Impact on Least-Profitable Producers
The USDA National Agricultural Statistics Service (NASS) has released updated data showing an increase in cash rent and land values in 2023. The average cash rent for irrigated cropland in the United States is $237 per acre, with California having the highest average at $486 per acre. The USDA's Agricultural Land Values report reveals that farm real estate values have risen by 7.4% compared to the previous year, with the average farm real estate value per acre being $4,080. The report provides detailed information on land values and changes in different regions across the country.