![]() Purdue ag economists Todd Kuethe, James Mintert, and Michael Langemeier discussed the results from the 2022 Purdue Farmland Values and Cash Rents Survey and USDA’s Land Values report during a webinar on August 24th. Indiana Farmland Values & Cash Rental Rates: 2022 Update Webinar To view the full Farmland Values & Cash Rents survey results, as well as associated articles and charts, please select from the articles listed below. Across all three quality grades, the highest per acre average cash rent was observed in the West Central region. ![]() At the regional level, the largest cash rental rate increases for top and average quality land were in the Northeast (21.3% and 13.2%, respectively), and the largest increase for poor quality land was in the Southwest region (18.6%). Across the three quality grades, cash rents also reached a new record high in 2022 at $300 per acre for high quality farmland, $252 for average quality, and $207 for poor quality land. The increases in cash rents were the highest observed since the 2011–2012 period. Average cash rents increased by 11.5% for top quality land, 10.8% for average quality land, and 13.2% for poor quality land. Statewide cash rental rates also increased across all land quality classes in 2022. “However, rising interest rates are associated with increased costs of borrowing, which put downward pressure on purchases financed through mortgages.” Kuethe, Purdue associate professor and Schrader Endowed Chair in Farmland Economics and survey author. “Multiple factors are influencing the increase in farmland prices, including positive net farm incomes, relatively strong commodity prices, inflation, and high farmer liquidity,” said Todd H. Poor quality farmland prices exhibited the largest increase of 34.0% to $8,631. The average per acre price of average quality farmland similarly increased by 30.1% to $10,598. Statewide, top quality farmland averaged $12,808 per acre, up 30.9% from the same time last year. Preliminary land values and rental rates are subject to change as additional surveys are returned.The Purdue Farmland Value and Cash Rents Survey suggests Indiana farmland prices grew at a record pace between June 2021 and June 2022, exceeding previous highs set in 2021. Actual land values and rental rates may vary depending upon the quality of the parcel and local market for an area. Land values and rental rates presented in the report are averages of survey participants’ responses by district. ![]() Results from the survey are divided by land class and agricultural statistic district. It is conducted by the Center for Agricultural Profitability, which is based in the Department of Agricultural Economics at the University of Nebraska-Lincoln. The Nebraska Farm Real Estate Market Survey is an annual survey of land professionals, including appraisers, farm and ranch managers and agricultural bankers. Between 20, the market value increase in agricultural land and buildings totaled about $23.8 billion.Īverage Cash Rental Rates by Land Type Land TypeĪverage Monthly Cash Rental Rates for Pasture Land TypeĬounties: Chase, Dundy, Frontier, Hayes, Hitchcock, Keith, Lincoln, Perkins, Red Willow About the Nebraska Farm Real Estate Market Survey
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