Farm real estate value, a measurement of the value of all land and buildings on farms, average $3,380 per acre in the United States, up $220 per acre from 2020.
In the northeastern region, the overall value increased by $290 per acre from last year. Changes in this region ranged from a 1% increase in New Hampshire to a 21.2% increase in Massachusetts.
U.S. cropland value averages $4,420 per acre, an increase of $320 per acre from last year. Changes in northeastern states ranged from a 3.9% increase in New York to a 7.9% increase in Maryland.
U.S. pasture value averages $1,480 per acre, an increase of $80 per acre from 2020. Changes in this region range from a 0.8% increase in New Jersey to a 2.6% increase in New York.
New Jersey farm real estate value averages $14,400 per acre, up 5.9% from 2020. This ranks New Jersey second nationally, behind Rhode Island’s average of $16,400 per acre.
New Jersey has the highest published cropland average value per acre at $14,800. California is second at $13,860.
New Jersey pastureland averages $13,400 per acre. This was also the highest published state, with Florida second at $5,530 per acre.