South Dakota Farm Real Estate Values Up 13.4%

South Dakota Farm Real Estate Values Up 13.4%

County cropland rents rise too, according to state office of National Ag Statistics Service survey.

South Dakota farm real estate value, including land and buildings, averaged $1,100 per acre on January 1, 2011 up 13.4% from the 2010 revised estimate, according to the South Dakota office of USDA's National Agricultural Statistics Service.

This is an increase of $130 over the 2010 revised value of $970 per acre. The U.S. farm real estate value of $2,350 is up 6.8% from 2010.

The average value for cropland in South Dakota is $1,810 per acre, a 16.0% increase from last year's revised estimate of $1,560 per acre. The value of non-irrigated cropland increased $250 to $1,800 per acre, up 16.1% from last year's revised estimate. The value of irrigated cropland was not published due to insufficient reports. Pastureland value is now $470 per acre, up 6.8% from $440 in 2010. 

The South Dakota average cash rent for non-irrigated cropland increased to $78 per acre, up $6.50 per acre from 2010. The average cash rent for pastureland remained constant at $16 per acre. Nationally, cropland cash rent is $111 per acre, up 8.8% from 2010's $102 per acre. The 2011 U.S. pastureland average rent was $11.50 per acre, up 4.5% from 2010.

District Non-irrigated

Cropland Rent  Pastureland rent

                    (per acre)  (per acre

Northwest         24.50        $7.30

North Central     57.50        $25

Northeast          $87           $30

West Central     $25           $8.90

Central              $54           $25

East Central      $106         $37.50

$Southwest       $19.50      $6.10

South Central    $32           $13

Southeast         $104         $35.50

The rent values are county level estimates of average cash rents paid. These estimates were derived from weighted averages based on rented acres and cash rents paid by a sample of farmers and ranchers. The values reported are for the 2010 calendar year. Data was collected from March 2010 through June 2010.

Source: NASS

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