The 2022 average Indiana farm real estate value, including land and buildings, averaged $8,000 per acre, an increase of 12.7 percent from 2021. That’s according to Nathanial Warenski, State Statistician with the USDA National Agricultural Statistics Service Indiana Field Office.
The Corn Belt region value, which includes Indiana, Illinois, Iowa, Missouri, and Ohio, was $7,560 per acre, up 14.9 percent from 2021.
The value of farmland in States bordering Indiana were: Illinois, $8,900 per acre; Kentucky, $4,350 per acre; Michigan, $5,850 per acre; and Ohio, $7,200 per acre.
Indiana’s cropland value was $7,750, up 14.0 percent from the previous year.
The Corn Belt region experienced a 15.3 percent increase to $7,930 per acre. The average value of cropland in the United States increased 14.3 percent from 2021 to $5,050 per acre. Indiana’s pasture value was $2,700 per acre, up 8.4 percent from 2021.
Indiana’s cropland cash rent was $212.00 per acre in 2022, up $12.00 from the previous year. Cropland cash rents in the Corn Belt region increased $17.00 from last year to $223.00 per acre.
The cropland cash rents in the States bordering Indiana were: Illinois, $243.00 per acre; Kentucky, $157.00 per acre; Michigan, $144.00 per acre; and Ohio, $170.00 per acre.
Pasture cash rents in the Corn Belt region increased $1.50 to $41.50 per acre. Pasture cash rent in the United States was $14.00 per acre.