PIERRE, SD – South Dakota’s farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2020, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2021 averaged $2,190 per acre, up $180 per acre (up 9%) from last year.
Cropland value increased 12% from last year to $3,390 per acre. Dryland cropland value averaged $3,360 per acre, $360 higher than last year. Pastureland, at $1,060 per acre, was $10 higher than the previous year.
Cash rents paid to landlords in 2021 for cropland were mixed from last year. Irrigated cropland rent averaged $196 per acre, $3 below last year. Dryland cropland rent averaged $120 per acre, $2 higher than a year earlier. Pasture rented for cash averaged $26.50 per acre, $0.50 above the previous year.
County level averages of 2021 cash rents paid to landlords will be released on Aug. 27.
