EAST LANSING, Mich. — The 2020 average Ohio farm real estate value, including land and buildings, averaged $6,350 per acre, according to Cheryl Turner, State Statistician of the USDA, NASS, Ohio Field Office.
Farm real estate values in Ohio were up 1.0 percent from 2019. Ohio is in the Corn Belt region, which also includes Illinois, Indiana, Iowa, and Missouri. The Corn Belt region value was $6,110 per acre, up slightly from 2019. The value of farmland in States bordering Ohio were: Indiana, $6,600 per acre; Kentucky, $3,920 per acre; Michigan, $4,950 per acre; Pennsylvania, $6,600 per acre; and West Virginia, $2,700 per acre.
Ohio’s cropland value was $6460, an increase of 0.9 percent from the previous year. The Corn Belt region experienced a 0.2 percent decrease to $6,350 per acre. The average value of cropland in the United States remained steady from 2019 at $4,100 per acre. Ohio’s pasture value was $3,370 per acre, up 0.6 percent from 2019.
Ohio’s cropland cash rent was $156.00 per acre in 2020, up $1.00 from the previous year. Cropland cash rents in the Corn Belt region decreased $1.00 from last year to $202.00 per acre. The cropland cash rents in the States bordering Ohio were: Indiana, $194.00 per acre; Kentucky, $146.00 per acre; Michigan, $128.00 per acre; Pennsylvania, $92.00 per acre; and West Virginia, $39.00 per acre.
Pasture cash rents in the Corn Belt region decreased 1.3 percent to $39.00 per acre. Pasture cash rent in the United States was $13.00 per acre.
— USDA National Agricultural Statistics Service
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