Value of Land and Buildings on Wisconsin Farms Rose in 2017
Saturday, August 4th, 2018 -- 7:20 AM
(Wisconsin Ag Connection) -The total value of all land and buildings on farms in Wisconsin rose during the past year to $74.8 billion, a nine percent increase from 2017.According to the USDA, the average acre of cropland went down one percent to $5,150 during the past year; but pasture values were up by four percent to $2,450 per acre. Overall, farm real estate, including land and buildings, increased two percent to $5,320 per acre last year. Wisconsin's ag property values were more than both neighboring Minnesota and Michigan, which averaged $4,700 and $4,780, respectively.
As of January 1, Wisconsin had a cropland rental rate of $140 per acre. Non irrigated cropland rent averaged $134.00 per acre, up by $1.00 from a year earlier. Irrigated cropland rent went for $238.00, which was down $5.00 from 2016. And pastureland rented for cash, which averaged $40.00 per acre, was unchanged from the previous year. U.S. farm real estate values averaged $3,140 per acre for 2017, up $60 from year-ago levels.
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