NDSU Extension - Mercer County

Accessibility


| Share

Comparison of Land Value and Rental Rates for 2019 - 2021

Land Value, Rental Rates, land prices, rental prices, 2021 county rents and prices

Submitted by Craig Askim, Extension Agent/Agriculture and Natural Resources

The 2021 County Rents and Prices North Dakota report has been released. This is a popular publication for landowners and renters. The rate and value results are based from 2020 figures. I will give some comparisons on a county level from the March 2019 -2021 figures. Data for this annual publication is gathered from the County Rents and Prices Annual Survey and funded by the North Dakota Department of Trust Lands.

The March 2021 non-irrigated cropland average rental rates in Mercer County remain unchanged from March 2020 at $39.50 an acre, which is up from the 2019 report of $38.30 or a 3.1% increase. Cropland values increased greatly from 2020 to 2021 with the average price of rental land in 2021 listed at $1,609.00 per acre, while in 2020 it was listed at $1,338.00, an increase of 20%. 2019 value was $1,383.00.

Non-irrigated pastureland average rental rates in Mercer County for 2021 are at $18.80 per acre compared to $17.00 per acre in the 2020 report, expressing a 9.5 % increase. The 2019 average rental rate was $18.10. Non-irrigated pastureland average price of rented land for 2021 is listed at $1,127.00 per acre and in 2020 the value was $995.00, an increase of 13.2%. The 2019 value was $889.00.

The March 2021 non-irrigated hay-land average rental rates in Mercer County came in at $26.50 per acre compared to $25.80 in 2020, an increase of 2.7%. The 2019 rate was $27.10. The 2021 non-irrigated hay-land average price of rented land came in at $1,382.00 compared to $1,061.00 in the 2020 report, an increase of 30 .2%. The value listed in 2019 was $1,155.00.

Overall, the prices of land and average rental amounts have increased from 2020 to 2021. Factors of why this occurred are unknown. However; COVID-19 related issues likely played a part because of the unknown factors that were presented during the 2020 cropping and growing season. Investors invested in more stable resources and land falls into the category of a more secure investment.

This data was gathered by comparing the 2019, 2020 and 2021 reported amounts within the three years of publications of the “County Rents and Prices North Dakota.” Please remember the accuracy of the percentage changes is solely based on the figures listed in the reports and based on the amount of the number of surveys listed, which varies from year to year.

Overall crop, pasture, and hay-land rental rates and values are remaining strong in Mercer County and are a strong investment and asset. To view the full report of North Dakota county rates and values, visit the North Dakota Department of Trust Lands web site at http://land.nd.gov.

Creative Commons License
Feel free to use and share this content, but please do so under the conditions of our Creative Commons license and our Rules for Use. Thanks.