ND Farmland Values Climb Over 10% for 4th Year

A report released by NDSU Extension showed farmland values throughout North Dakota have increased by more than 10% each of the last four years. Extension Ag Finance Specialist Bryan Parman was surprised by those numbers. “I expected land prices to be up, but I didn’t expect ten and a half percent.” The report revealed that farm size throughout North Dakota has increased over the decades, while ownership of land has consolidated. “The number of acres owned really hasn’t changed in over 30 years. It’s been somewhere between 480 and 550 acres owned, but farm size has more than doubled on average. So, the land ownership of the percentage of total acres farmed has shrunk from almost fifty percent thirty-five years ago down to twenty-five percent today.”