What to Know About 2017 Cropland Cash Rents
Over the past decade, cash rents for cropland across the country have gradually increased. Yet, last year in 2016, there was a slight dip and since then, the average amount has held on steadily.
According to a recent USDA report, the national average this year for cropland cash rent is $136. States such as California, Hawaii, Arizona and Iowa had some of the highest cropland cash rents this year – the highest being in California at $325 per acre. The lowest cropland cash rent was seen in Montana at $31.50 per acre.
If you’re looking to rent cropland on a smaller budget, your best bet is definitely in Montana, but you might also want to look at the Southern and Southeast regions of the U.S. The rental rate per acre in Oklahoma and Texas ranged from $33 to $40.50, while in West Virginia and South Carolina, cash rents averaged $42 to $46.50.
On the other hand, if you’re an owner of cropland out West or in the Midwest and are looking to make some extra income, you’re in luck. Below are the top 10 highest cropland cash rents in the country for 2017.
State | Cropland Cash Rent ($/acre) |
California | $325 |
Hawaii | $282 |
Arizona | $250 |
Iowa | $231 |
Illinois | $218 |
Washington | $198 |
Indiana | $195 |
Nebraska | $194 |
Minnesota | $166 |
Idaho | $160 |