Wisconsin Sees a Drop in Farmland Value
Friday, August 7th, 2020 -- 8:10 AM
(Wisconsin Ag Connection) -The tough agricultural economy is likely to blame for a drop in the total value of Wisconsin farm land and buildings during the past year.According to the USDA, the average acre of cropland in the Badger State dropped to $4,770, down $80; with pasture values also falling by more than two percent to $2,250 per acre. The findings come after the same properties were valued at an all-time high of $70 billion just a year earlier. Overall, farm real estate, including land and buildings, decreased by two percent to $4,850. Wisconsin was just under Michigan's $4,860 per acre, but more than Minnesota's value of $4,840.
As of January 1, Wisconsin had a cropland rental rate of $146 per acre. Non irrigated cropland rent averaged $138.00 per acre, while irrigated fields went for $245.00. On average, pastureland in Wisconsin rented for $35.00 per acre. U.S. farm real estate value averaged $3,160 per acre for 2019, unchanged from year ago levels.
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