Cropland Cracks $6,000 an Acre for the First Time — But USDA Says the Boom Is Losing Steam

Since 2022, the average value of cropland has risen from $4,940/acre to $6,020/acre — a 21.8% gain. Pasture climbed from $1,630/acre to $2,000/acre over the same stretch, up 22.6%.

USDA's Land Values Summary is compiled from a survey of roughly 30,000 farm operations and covers both land and farm buildings. That breadth is why the report functions as the industry's baseline: it is not a sample of listings or closed sales, but an estimate of what operators say the ground is worth across every state.

Measuring overall farm real estate (land and buildings combined), the five-state Corn Belt — Illinois, Indiana, Iowa, Missouri and Ohio — averaged $8,590/acre in 2026. The three-state Pacific region of California, Oregon and Washington averaged $8,440/acre, nearly matching the Corn Belt despite covering far less cropland.

California alone posted the highest overall farm real estate value of any state, at $14,100/acre, up 2.9%. On the other side of that comparison, Iowa carried the Corn Belt's top individual cropland figure at $10,700/acre — and if you own ground there, our Iowa by-owner selling guide walks through the paperwork and pricing side of a sale.

Nebraska's cropland data makes the point plainly: irrigated cropland averaged $9,200/acre in 2026 (up 4.0%), while non-irrigated cropland averaged just $5,650/acre (up only 0.9%).

That is a 63% premium for water access on otherwise comparable ground — a gap worth keeping in mind for any landowner pricing acreage with or without water rights. It also explains why two neighboring parcels in the same county can appraise thousands of dollars an acre apart.

Every state's cropland value rose in 2026, but no state posted a gain larger than 4.3% — a notable deceleration. Cropland values rose 4.7% nationally in 2025, compared to 3.3% in 2026. Pasture values rose 4.9% in 2025, compared to 4.2% in 2026.

"We're still seeing appreciation, just not at the breakneck pace of the last couple of years" is the sentiment several Midwest farm real estate brokers have echoed in trade coverage of this year's report. Treat that line as illustrative of broader broker commentary rather than a direct quotation — no single named source is confirmed for it.

Pasture crossed $2,000/acre for the first time nationally. Regionally, pasture in the Southeast averaged $5,920/acre, while the Appalachian region averaged $4,880/acre. Land-scarce Northeastern states — Rhode Island, New Jersey and Massachusetts — posted the country's highest pasture values.

In the Mountain states, Idaho pasture reached $2,500/acre (+4.2%) and Utah reached $2,000/acre (+5.3%). Wisconsin led all states in pasture-value growth at +6.1%, followed by Kansas (+5.7%) and a tie between North Carolina and Tennessee (+5.5% each).

USDA released a companion report the same day showing California posted the nation's highest average cropland cash rent for 2026. The figure is not detailed further here — it belongs to a separate same-day USDA release and has not been independently verified beyond the DTN summary.

County-level cash rent estimates are expected later this year and will sharpen the picture for landowners weighing a sale. For owners sitting on appreciated cropland or pasture, a slowing (but still positive) growth rate is worth factoring into timing: selling now locks in this year's gain, while waiting is a bet that next year's number is still higher.

A cash offer is one option to explore alongside listing with a realtor or continuing to hold. Which one fits depends on how quickly you need certainty, and on whether your ground is the kind that draws competing buyers on the open market.