PIERRE, S.D. (DRG News) – The value of all land and buildings on farms in South Dakota has gone down from last year (2019) to this year (2020).
The US Department of Agriculture’s National Agricultural Statistics Service says farm real estate value for 2020 averaged $2,010 per acre, down $60 per acre (3%) from last year.
Cropland value decreased 3% from last year to $3,030 per acre. Dryland cropland value averaged $3,000 per acre, $100 lower than last year. Pastureland, at $1,050 per acre, was unchanged from the previous year.
Cash rents paid to landlords in 2020 for cropland were mixed from the previous year. Irrigated cropland rent averaged $199 per acre, $5 above last year. Dryland cropland rent averaged $118 per acre, $1 higher than a year earlier. Pasture rented for cash averaged $26 per acre, unchanged from the previous year.