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Familiarize yourself with your state's laws. Property management and real estate laws differ depending on what state -- and even city -- you live in. Write an explicit and easy-to-understand contract. Include all the stipulations that you require. Include details regarding the deposit. Consult with an attorney.
Good and average classes had the same rent in 2017 as in 2018: $260 per acre for good farmland and $225 per acre for average farmland. Fair productivity farmland has a slight increase: $175 per acre in 2017 to $186 in 2018.
Taking the numbers apart, it is little surprise that California came in with the highest average rent $340 per acre averaged across all land and $528 per acre for irrigated land. Corn Belt states Nebraska, Iowa, Illinois and Indiana all came in with rental rates near or above $200 per acre.
Good and average classes had the same rent in 2017 as in 2018: $260 per acre for good farmland and $225 per acre for average farmland. Fair productivity farmland has a slight increase: $175 per acre in 2017 to $186 in 2018.
Rent Paid for Agricultural Land At $140 per acre, the average rate to rent cropland in the United States in 2019 was $2 higher than in 2018. For irrigated cropland, the average rental rate per acre was $220 (up from $215 in 2018). For non-irrigated cropland it was $127 (up from $125).
The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2019, up $60 per acre (1.9 percent) from 2018. The United States cropland value averaged $4,100 per acre, an increase of $50 per acre (1.2 percent) from the previous year.
Cash rental rates for farmland depend on the local market, the quality of the rented parcel, and the landowner. In general, cropland rental rates are higher than hay and pasture land. New England cropland lease rates can range from $40 per acre/year to $300 per acre/year.
Non-irrigated cropland rent averaged $137.00 per acre in Wisconsin during 2019, an increase of $4.00 from 2017 according to the latest report released by USDA's National Agricultural Statistics Service. Cash rent paid for pasture in Wisconsin averaged $40.00 per acre in 2019, unchanged from 2017.
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