PIERRE, S.D.(DRGNews)- South Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2021, according to the US Department of Agriculture’s National Agricultural Statistics Service.
Farm real estate value for 2022 averaged $2,600 per acre, up $410 per acre (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 above last year.
Dryland cropland rent averaged $125.00 per acre, $5 higher than a year earlier.
Pasture rented for cash averaged $29.50 per acre, $3 above the previous year.
County level averages of 2022 cash rents paid to landlords will be released on August 26, 2022, and will be available through NASS Quick Stats, located at http://quickstats.nass.usda.gov/.
Access the National publication for this release at: