Nebraska Farm Real Estate Value and Cropland Rent Higher

LINCOLN, Neb. -- Nebraska's farm real estate value rose from 2010, extending a trend that began in 1993, according to USDA’s National Agricultural Statistics Service, Nebraska Field Office. Farm real estate value on January 1, 2011, averaged $1,780 per acre, a record high. This is up $260 per acre or 17 percent higher than last year’s level.

Cropland value increased 18 percent from last year to $2,960 per acre, with dryland acreage averaging $2,350 per acre and irrigated cropland at $3,900. Pastureland, at $520 per acre, increased $45 from a year ago.

Cash rent paid to landlords in 2011 for cropland increased from last year and is also a new record high. Irrigated cropland rent averaged $190 per acre, an increase of $20. Across the State, dryland rent averaged $115 per acre, up $12 from a year earlier. Pasture rented for cash, which averaged $16.50 per acre, is up $0.50 from the previous year.

County level averages of 2011 cash rents paid to landlords will be released September 9, 2011 and will be available through NASS Quick Stats.