Farm real estate and cropland values in Kansas jumped more than 10% this year compared to last year.
That’s good and bad news for Kansas agribusiness, largely depending on whether a farming operation already owns land or needs more acres.
The Kansas News Service reports that farm real estate is the value of all land and the homes, barns, and machine sheds on a farm.
In Kansas, it increased to about $2,100 an acre, up 11% from 2020.
Cropland value saw an even higher jump.
It increased 14% to nearly $2,400 an acre.
The real estate and cropland value increases inflate a farmer’s assets.
That’s important when a farmer needs to get a loan from a bank, or sell their land. It also means more profit if someone decides to sell the land.
It also makes it more difficult for a farmer wanting to expand, or for a recent college graduate wanting to get started.