North Dakota farm real estate value up 17 percent over the year; cash rent also higher

Associated Press

The value of farm real estate in North Dakota has risen 17 percent in the past year.

Farm real estate value is a measurement of all land and buildings on farms. The Agriculture Department says the value in North Dakota averages $1,820 per acre, up $270 per acre from last year.

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Cropland value averages $2,050 per acre, up $300 from last year. Pastureland is up $172, to $750 per acre on average.

Cash rent also has increased from last year. Irrigated cropland rent averages $166 per acre, up $1. Non-irrigated cropland averages $67 per acre, up $3. Pasture land averages $16 per acre, up $1.