Farm Real Estate Values and Cash Rentsby USDA on August 6, 2014
The January 1, 2014 Indiana farm real estate value, including land and buildings, averaged $6,950 per acre, according to Greg Matli, State Statistician of the USDA, NASS, Indiana Field Office.
Farm real estate values were up 8.6 percent from 2013. Indiana is in the Corn Belt region, which also includes Illinois, Iowa, Missouri, and Ohio. The Corn Belt region value was $6,370 per acre, up 8.3 percent from 2013. The value of farmland in States bordering Indiana was: Illinois, $7,520 per acre; Kentucky, $3,150 per acre; Michigan, $4,700 per acre; and Ohio, $5,550 per acre.
Indiana cropland value increased 7.0 percent from the previous year to $7,050 per acre. The Corn Belt region saw an 8.2 percent increase to $7,000 per acre. The average value of cropland in the U.S. increased 7.6 percent to a value of $4,100 per acre. Indiana’s pasture value was $2,550 per acre, up 2.0 percent from 2013. Indiana’s cropland cash rent was $195.00 per acre in 2014, up $3.00 from the previous year. Cropland cash rents in the Corn Belt region increased $3.00 from last year to $212.00 per acre. The cropland cash rents in the States bordering Indiana was: Illinois, $234.00 per acre; Kentucky, $148.00 per acre; Michigan, $123.00 per acre; and Ohio, $144.00 per acre.
Pasture cash rents in the Corn Belt region decreased 2.8 percent to $34.50 per acre. Pasture cash rent in Indiana was $40.00 per acre.