| ND Ag Land Values Rise |
| 8/5/2009 |
| Farm real estate value in North Dakota has risen 1.3 percent. The Agriculture Department says in a report released Wednesday that farm value, including land and buildings, averaged $780 per acre on Jan. 1, up from $770 the previous year. It was the tenth consecutive year of an increase in North Dakota farm real estate value, and the rise bucks the national trend. The report says the average U.S. farm real estate value of $2,100 is down 3.2 percent this year. The average value for North Dakota cropland is $800 per acre, down 1.2 percent from 2008 and the first decrease since records began in 1997. Pastureland values were unchanged from 2008 at $350 per acre. Average cash rent for cropland rose 7.1 percent to $45.50 per acre in North Dakota, while average cash rent for pastureland increased just slightly to $14 per acre. |
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