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Land Value Increase Highest In Dakotas

Land Value Increase Highest In Dakotas
North Dakota and South Dakota agland values increased by the biggest percentages in the U.S. in 2012.

Cropland values took the biggest jump in the North Central Region of the United States this past year according to USDA's National Agricultural Statistics Service. 

North Dakota
Farm real estate value for 2013 averaged $1,690 per acre. This is up $450 per acre or 36 percent higher than last year's level. Cropland value increased 41 percent from last year to $1,910 per acre. Pastureland, at $630 per acre, increased $140 from a year ago.

South Dakota
Farm real estate value for 2013 averaged $1,800 per acre. This is up xxxxx per acre, or 28.6%.

Bales are scattered across a hay field in north central South Dakota where the rate of land value increases led the nation in 2012.

Cropland value increased 30.2% from last year to $3.020 per acre. Pasture, at $710, per acre, increased 20.3% averaged $15 per acre, is up $x from the previous year.

Minnesota's average cropland value increased to $4,850 per acre, up 19.8 percent from 2012, and the average pasture value rose to $1,750 per acre, a 16.7 percent increase from 2012

United States
The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,900 per acre for 2013, up 9.4 percent from revised 2012 values. Regional changes in the average value of farm real estate ranged from a 23.1 percent increase in the Northern Plains region to no change in the Southeast region. The highest farm real estate values were in the Corn Belt region at $6,400 per acre. The Mountain region had the lowest farm real estate value at $1,020 per acre.

The United States cropland value increased by $460 per acre (13.0 percent) to $4,000 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 25.0 and 16.1 percent, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 2.8 percent.

Source: NASS

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