Agricultural Land Values and Cash Rents

COLORADO

The 2023 Colorado average farmland real estate value, a measurement of the value of all land and buildings on farms, was $1,950 per acre. This is an increase of 10.2 percent from 2022 and 21.1 percent from 2021. The average value of cropland was $2,610, up 5.2 percent from 2022. The average value of irrigated cropland was $6,000, up 4.3 percent from the previous year, and the average value of non-irrigated cropland was $1,700, up 6.3 percent from the previous year. Pasture values, at $980 per acre, were up 4.3 percent from 2022.

Average cash rent for irrigated cropland in Colorado was $180.00 per acre in 2023, up $5.00 from the previous year. Average cash rent for non-irrigated cropland was $31.50 per acre in 2023, down $2.50 from the previous year. Average cash rent for pasture was $6.10 per acre in 2023, down $0.10 from the previous year.

UNITED STATES

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,080 per acre for 2023, up $280 per acre (7.4 percent) from 2022. The United States cropland value averaged $5,460 per acre, an increase of $410 per acre (8.1 percent) from the previous year. The United States pasture value averaged $1,760 per acre, an increase of $110 per acre (6.7 percent) from 2022.

Average cash rent for irrigated cropland in the United States was $237.00 per acre in 2023, up $10.00 from the previous year. Average cash rent for non-irrigated cropland in the United States was $142.00 per acre in 2023, up $7.00 from the previous year. Cash rent for pasture in 2023 averaged $15.00 per acre, up $1.00 from the previous year.

For a full copy of the Land Values and Cash Rents reports, please visit www.nass.usda.gov.