Farmland values continue to climb according to the most recent data from USDA. In the 2021 Land Values summary released in August, figures show the average farm real estate value increased almost 7% over the past year — with U.S. farm real estate averaging $3,380 per acre. 

When looking at just cropland values, the numbers are higher. U.S. cropland is now averaging $4,420 per acre — a nearly 8% increase over 2020 values. The state with the reported highest cropland value? New Jersey – where on average, cropland goes for $14,800 per acre. 

Here in the Midsouth, farm and cropland values are up, although not as dramatically as some parts of the country. Below is the breakdown by state for average farm real estate value in 2021 in the Midsouth. While only portions of Tennessee and Missouri are considered part of the Midsouth region, we have included them for this article.  

2021 cropland value by state: 

Rent costs 

Also in August, USDA released the Cash Rents Survey. The survey results are based on responses from more than 260,000 producers who provide cash rental rates for their local area. FSA uses cash rent county estimates to determine market rates for USDA programs, such as the Conservation Reserve Program. Other state and federal agencies, universities and research groups sometimes use the information, too. 

The U.S. average for cash rent of irrigated cropland was $217 per acre. That’s up half a percent from 2020. The most expensive state to rent irrigated cropland in the U.S. is California at $461 per acre. Oklahoma had the lowest cash rent averages at $83 per acre. 

Here’s the average cash rent for cropland (irrigated and non-irrigated) in 2021 for the Midsouth: 

And here’s the breakdown for cash rent for only irrigated cropland in 2021 for Midsouth states: 

The counties with the highest rents for an irrigated acre of cropland per state were