According to a new report from USDA, Minnesota farmland values are averaging $6,820 per acre, up seven percent from last year. Farm real estate values in South Dakota is averaging $2,920 per acre, up 12 percent. In North Dakota, farmland values are up 13 percent at $2,320. Cash rents for non-irrigated cropland in Minnesota averaged just under $200 per acre, up $13 from 2022. For South Dakota, dryland cash rents averaged $126 per acre, just $1 higher than a year ago. These cash rents in North Dakota are averaging $76 per acre, $3 higher than last year.
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