USDA releases 2021 farmland cash rent values
Land rent prices vary tremendously from county to county.
The "USDA Farmland Cash Rent" report is a listing of the county rental rates dating from 2010 to the 2021 year. The information was obtained from the USDA's National Agricultural Statistics Service (NASS) and is based on their survey results from producers.
It is important to remember that land rent prices vary tremendously from county to county. In Michigan, higher productivity soils tend to command a higher price. This includes tile-drained areas where specialty crops are grown, such as sugar beets and vegetables.
Other factors can impact the price that farmers are willing and able to pay for land rent. Some of these include field size, access, soil type, soil fertility, previous cropping history, and proximity to their farm operation.
Looking at this report will give you a place to start, but may not reflect the actual value of farmland in your area. To assist in determining what a reasonable rate is for your production area, please see the MSU Extension factsheet "Farmland Rent Considerations."
Additional resources are also available through the MSU Extension's Farm Business Management webpage on land, energy leasing, and contracts: https://www.canr.msu.edu/farm_management/land-energy-leasing-contracts.