EAST LANSING, Mich. — The 2021 average Indiana farm real estate value, including land and buildings, averaged $7,100 per acre, according to Nathanial Warenski, State Statistician of USDA, NASS, Indiana Field Office.
Farm real estate values in Indiana were up 7.6 percent from 2020. Indiana is in the Corn Belt region, which also includes Illinois, Iowa, Missouri, and Ohio. The Corn Belt region value was $6,580 per acre, up 7.7 percent from 2020. The value of farmland in States bordering Indiana were: Illinois, $7,900 per acre; Kentucky, $4,000 per acre; Michigan, $5,300 per acre; and Ohio, $6,600 per acre.
Indiana’s cropland value was $6,800 up 9.5 percent from the previous year. The Corn Belt region experienced an 8.3 percent increase to $6,880 per acre. The average value of cropland in the United States increased 7.8 percent from 2020 to $4,420 per acre. Indiana’s pasture value was $2,490 per acre, up 3.8 percent from 2020.
Indiana’s cropland cash rent was $200.00 per acre in 2021, up $6.00 from the previous year. Cropland cash rents in the Corn Belt region increased $4.00 from last year to $206.00 per acre. The cropland cash rents in the States bordering Indiana were: Illinois, $227.00 per acre; Kentucky, $150.00 per acre; Michigan, $138.00 per acre; and Ohio, $160.00 per acre.
Pasture cash rents in the Corn Belt region increased $1.00 to $40.00 per acre. Pasture cash rent in the United States was $13.00 per acre.
— USDA National Agricultural Statistics Service
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