South Dakota's farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2021, according to USDA's National Agricultural Statistics Service. Farm real estate value for 2022 averaged $2,600 per acre, up $410 per acre (up 19%) from last year.
Cropland value increased 19% from last year to $4,030 per acre. Dryland cropland value averaged $4,000 per acre, $640 higher than last year. Pastureland, at $1,230 per acre, was $170 higher than the previous year.
Cash rents paid to landlords in 2022 for cropland increased from last year. Irrigated cropland rent averaged $205.00 per acre, $9.00 above last year. Dryland cropland rent averaged $125.00 per acre, $5.00 higher than a year earlier. Pasture rented for cash averaged $29.50 per acre, $3.00 above the previous year.
County level averages of 2022 cash rents paid to landlords will be released on Aug. 26.
Categories: South Dakota, Business, Crops