See How Much South Dakota Agricultural Land Value Increased
According to results from a farm real estate survey conducted by agricultural economists at South Dakota State University, South Dakota non-irrigated agricultural land values increased marginally in 2014.
“This percentage increase was smaller than increases reported from each of the past three years,” said Kim Dillivan, SDSU Extension Crops Business Management Field Specialist.
The survey showed that the non-irrigated agricultural land average value was $2,470 per-acre; an increase of $142 per-acre or 6.1 percent from last year. Dillivan shared an example of land which experienced an annual value increase of 33.6 in 2013, 26.8 in 2012 and 16.5 percent in 2011.
Dillivan explained that regional agricultural land values are weighted by the proportion of acres in each agricultural land use.
From 2009 to 2014, the largest dollar increases in average values was $3,129 per-acre in the east-central region and $3,030 per-acre in the southeast region, followed by increases between $2,000 and $2,100 per-acre in the northeast and north-central region. The smallest increases in average values ($205 and $207 per-acre) occurred in the northwest and southwest regions.