How much does farmland rent for per acre per month in Illinois?

For 2020, Illinois’ average cash rent is $222 per acre, down $2 from 2019, according to USDA data. Generally, the highest cash rents in the state are in central Illinois. In 2019, northern Illinois farms cash-rented 60% of their acres, followed by central Illinois at 44% and southern at 44%.

How much does an acre of land cost in Illinois 2020?

Excellent land averaged $10,313 per acre across all regions of Illinois in the Illinois Society of Professional Farm Managers and Rural Appraisers half-year update of land prices.

How much does an acre of land cost in Illinois 2021?

$10,500 per acre: Statewide average unchanged for excellent quality farmland – AgriNews.

What does farm land rent for in Illinois?

In 2020, the Illinois Society reported an average rent for excellent quality farmland that is professionally managed farmland of $305 per acre. This $305 per acre average was $34 per acre higher than the $271 average reported for counties by NASS.

How much is it to rent an acre of farmland?

At $140 per acre, the average rate to rent cropland in the United States in 2019 was $2 higher than in 2018. For irrigated cropland, the average rental rate per acre was $220 (up from $215 in 2018); for non-irrigated cropland it was $127 (up from $125).

Are land prices going up or down?

According to data from the REALTORS® Land Institute (RLI) and National Association of REALTORS® research group that was compiled in their latest land market survey, there was an increase in total sales for land, mostly for residential or recreational use, and that the median price per acre of land increased by $1,000 …

How much does it cost to rent farm land?

Rent Paid for Agricultural Land At $139 per acre, the average rate to rent cropland in the United States in 2020 was $1 lower than in 2019. The average rate per acre for irrigated cropland was $216 (down from $220 in 2019) and non- irrigated cropland was $126 (down from $127 in 2019).

Is renting farmland profitable?

The average rate to rent irrigated and non-irrigated cropland in 2018 was $215 and $125 per acre, respectively. However, using these farmland lease rates as a go-by, you can estimate your potential income by multiplying them by the number of acres you would rent out.

What’s the average cash rent for farmland in Illinois?

The average cash rent for high-productivity farmland in central Illinois was $275 per acre in 2019. Although USDA did not yet release county-level cash rents for 2020, a continuation of $275 per acre for high-productivity farmland in central Illinois is likely for 2020 given no change in state cash rents as published by NASS last week.

Are there any changes in cash rents in Illinois?

The National Agricultural Statistical Service (NASS) recently released state and county rents for 2020. In addition, the Illinois Society of Professional Farm Managers and Rural Appraisers released their projections of 2021 rents on professionally managed farmland. Overall, cash rents did not change much from 2019 to 2020.

Where are the highest cash rents in Illinois?

Higher cash rents also occur in northern Illinois (Carrol at $264 per acre, DeKalb at $262 per acre) and western Illinois (McDonough at $256 per acre). Southern Illinois has lower per acre cash rents.

How much does it cost to rent an acre in Iowa?

From 2016 to 2020, state cash rents varied from a low of $218 per acre in 2017 to a high of $224 per acre in 2019, a range of $6 per acre. Average cash rents have been stable in the last five years. Iowa’s cash rents declined from a high of $260 per acre in 2014 to $235 per acre in 2016.

How much does farmland rent for per acre per month in Illinois? For 2020, Illinois’ average cash rent is $222 per acre, down $2 from 2019, according to USDA data. Generally, the highest cash rents in the state are in central Illinois. In 2019, northern Illinois farms cash-rented 60% of their acres, followed by central…