The USDA released the latest Agricultural Land Values 2023 summary, noting that all land values (crop and pasture) increased.

Lynn Jaynes

Emeritus Editor

Lynn Jaynes retired as an editor in 2023.

The U.S. farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,080 per acre for 2023, up $280 per acre (7.4%) from 2022. Cropland value averaged $5,460 per acre, an increase of $410 per acre (8.1%) from the previous year.

The pasture value averaged $1,760 per acre, an increase of $110 per acre (6.7%) from 2022.

In Idaho, all land values rose an average of 3%, with value of farmland and buildings rising the highest at 10.4% over 2022, or $42,550 per acre (Table 1).

Two other areas in Idaho saw increases of 5%, cropland average value per acre and irrigated cropland average value per acre. Non-irrigated cropland noted the smallest increase at 2.4%, rising to $2,150 per acre for 2023.