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Ohio Farm Real Estate Values Up Nearly 2 Percent
Ohio Ag Connection - 08/06/2018

The 2018 average Ohio farm real estate value, including land and buildings, averaged $5,740 per acre, according to Cheryl Turner, state statistician of the USDA, NASS, Ohio Field Office.

Farm real estate values in Ohio were up 1.6 percent from 2017. Ohio is in the Corn Belt region, which also includes Illinois, Indiana, Iowa, and Missouri. The Corn Belt region value was $6,430 per acre, up 2.7 percent from 2017. The value of farmland in States bordering Ohio were: Indiana, $7,100 per acre; Kentucky, $3,440 per acre; Michigan, $4,780 per acre; Pennsylvania, $5,680 per acre; and West Virginia, $2,570 per acre.

Ohio's cropland value increased 1.2 percent from the previous year to $5,850 per acre. The Corn Belt region saw a 0.6 percent increase to $6,710 per acre. The average value of cropland in the U.S. increased from 2017 to $4,130 per acre. Ohio's pasture value was $3,120 per acre, up 2.3 percent from 2017.

Ohio's cropland cash rent was $152.00 per acre in 2018, unchanged from the previous year. Cropland cash rents in the Corn Belt region increased $3.00 from last year to $204.00 per acre. The cropland cash rents in the States bordering Ohio were: Indiana, $198.00 per acre; Kentucky, $149.00 per acre; Michigan, $123.00 per acre; Pennsylvania, $80.50 per acre; and West Virginia, $45.00 per acre.

Pasture cash rents in the Corn Belt region increased 4.0 percent to $39.00 per acre. Pasture cash rent in the U.S. was $12.50 per acre.

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