Kansas Led Land Value Escalation in 2023

By Maggie Gilles, Kansas Dairy Farmer

Maggie Gilles

National land prices notched another year of record highs, but the largest percentage gain in value belonged to the state of Kansas where land value went up 16% in 2023. In 2019, farm real estate values were $1,960. In 2023, that number was $3,060.

The USDA National Agricultural Statistics Service’s Land Values 2023 report showed that U.S. average farm real estate reached $4,080 per acre, 7.4% higher than 2022. That number accounted for the value of all land and buildings on the farm.

In Kansas, cropland value rose 16.6% in 2023 to a $3,440 for the combination of irrigated and dryland acres. Similarly, pasture values were up 16.2% to $2,150 in Kansas. Nationally, those numbers were $5,460 per acre for cropland and $1,760 per acre for pastureland.

More data and information is available from the USDA Agricultural Land Values release.