Ever wonder what agricultural land values are by state? The USDA National Agricultural Statistics Service (NASS) recently released a land values report for the Northeast Region which covers 11 states including New York. From 2017 to 2021 the average farm real estate average value per acre in the northeast rose from $5,380 to $6,000 in 2021.During the same time period, the average farm real estate average value per acre in New York was from $3,160 to $3,270.In 2021 New York ranked second to last in average farm real estate average value per acre just ahead of Maine at $2,600.Rhode Island topped the list at $16,400, followed by New Jersey at $14,400 and Massachusetts at $13,700.
The report also provides information on cropland value per acre, pasture average value per acre and the value of farmland and buildings. Keep in mind these are averages meaning that some land has a higher value and other land has a lower value. For anyone looking to buy or sell agricultural land seeking the advice of professionals is strongly recommended.
Northeastern Region Land Value Report from United State Department of Agriculture
Sr. Agriculture Economic Specialist
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Last updated August 10, 2021