Kansas's farm real estate value, a measurement of the value of all land and buildings on farms, increased from 2023, according to USDA's National Agricultural Statistics Service. Farm real estate value for 2024 averaged $2,970 per acre, up $220 per acre (up 8%) from last year.
Cropland value increased 7% from last year to $3,300 per acre. Dryland cropland value averaged $3,200 per acre, $220 higher than last year. Irrigated cropland value averaged $4,460 per acre, $240 above a year ago. Pastureland, at $2,100 per acre, was $170 higher than the previous year.
Cash rents paid to landlords in 2024 for cropland increased from last year. Irrigated cropland rent averaged $164.00 per acre, $10.00 above last year. Dryland cropland rent averaged $65.00 per acre, $2.50 higher than a year earlier. Pasture rented for cash averaged $22.50 per acre, $0.50 above the previous year.
County level averages of 2024 cash rents paid to landlords will be released on August 23, 2024 and will be available through NASS Quick Stats, located at http://quickstats.nass.usda.gov/.
