Washington Reports Ag Land Value Drop; Oregon, Idaho Report Increase

According to the American Farm Bureau Federation, the average value of agricultural cropland nationwide sits at $4,100 per. That figure is virtually unchanged from last year but in line with recent record highs seen in 2019 and 2015.

USDA’s 2020 Land Values report says the average value of cropland, including all land and buildings on farms, was $3,160 per acre. That’s unchanged from 2019’s record high. The average value for pastureland was $1,400 an acre this year, unchanged from 2019. Cash rental rates for cropland averaged $139 per acre in 2020, down a dollar an acre from 2019.

Here in the Northwest, Ag land in Washington, on average goes for $2,760 per acre, a 2.1% year over year drop. In Oregon that figure is $2,530 an acre, up 1.2% from last year. Meanwhile in Idaho, farm land is running $3,110 per acre, a 3.7% year over year increase.

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Wyoming has the cheapest ag land prices in the country, at $750 per acre.

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