NDSU Extension - Mercer County

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Mercer County Land Rental/Value Comparisons

land rental/value comparisons

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

Many producers become unpleasant when asked to fill out agricultural surveys. However, those surveys play an important role in providing valuable data when it comes to answering many agricultural questions. One of the more common questions I receive is, “What is the average cash rental value and land value for the county?” Mercer County is very diverse in land topography, making this hard to answer. The North Dakota Department of Trust Lands funds a producer survey to provide data to help answer this important question. Over 8,000 surveys were mailed to North Dakota agricultural producers with over 2,100 responses. Below is a list of the value percentage changes from 2018 to June 1, 2019 in Mercer County. In some cases, the number of reports recorded is very low due to the lack of producers responding. While this is only one source of information on this topic, resource information on land values and rents is hard to find. Please exercise discretion when figuring out true values of land for your operation. We also advise readers to exercise discretion when using this data, using a three-year average is one way to minimize variability that can occur from year to year.

Cropland

Non-Irrigated Cropland Five-Year Rental Averages

2013 to 2017 - $40.40 per ace

2014 to 2018 - $39.60 per acre

2015 to 2019 - $39.20 per acre

A $.80 per acre decrease or 1.9% decrease over 2014 to 2018 average

Non-Irrigated Cropland Price of Rented Land Five-Year Average

2013 to 2017 - $1,208 per acre

2014 to 2018 - $1313 per acre

2015 to 2019 – $1360 per acre

A $47.00 increase per acre or 3.57% over 2014 to 2018 average

Pastureland

Non-Irrigated Pastureland Five-Year Rental Averages

2013 to 2017 – $16.90 per acre

2014 to 2018 – $17.30 per acre

2015 to 2019 - $17.40 per acre

A $.10 increase per acre or .005% or 2014 to 2018 average

Non- Irrigated Pastureland Five-Year Price of Rented Land

2013 to 2017 - $ $797.00

2014 to 2018 - $932.00

2015 to 2019 - $960.00

A $28.00 per acre increase or 3.0% or 2014 to 2018 average

Tame Hay Land

Non-Irrigated Tame Hay Land Five-Year Rental Rate Averages

2013 to 2017 - $ 898.00 per acre

2014 to 2018 - $ 1008.00 per acre

2015 to 2019 - $ 1075.00 per acre

A $67.00 per acre increase or 6.6% over the 2014 to 2018 average

Non-Irrigated Tame Hay Land Five Year Average Price of Rented Land

2013 to 2017 - $22.60

2014 to 2018 -$22.60

2015 to 2019 - $23.50

A $.90 increase per acre or 3.9% over the 2014 to 2018 average

Rental Rates

Non-Irrigated Cropland Average Rental Rates

2017 - $32.90

2018 - $38.30

2019 - $39.50

A $.30 increase or a .007 % over 2018 up $6.60 per acre over 2017 or 20%.

Non- Irrigated Pastureland Average Rental Rates

2017 -$16.90

2018 - $18.10

2019 - $17.00

A $1.10 decrease or 6.0%

Non-Irrigated Tame Hay Land Average Rental Rates

2017- $22.50

2018 -$27.10

2019- $25.80

A $1.30 decrease or 4.79 % but $3.30 increase over 2017 or 14.6%

Non-Irrigated Cropland Average Price of Rented Land

2017-$1261.00

2018- $1383.00

2019 – $1338.00

A $45.00 decrease per acre or 3.25% but $77.00 increase over 2017 or 6.1%

Non-Irrigated Pasture Land Average Price of Rented Land

2017 – $1133.00

2018 - $ 889.00

2019 - $ 995.00

A $106.00 increase or 11.9%

Non-Irrigated Tame Hay Land Average Price of Rented Land

2017 - $1172.00

2018 - $ 1155.00

2019 - $1061.00

A $94.00 decrease or 8.1 %

To view the full report, go to https://land.nd.gov or call the Extension office at 701.873.5195.

Sources: 2018, 2019, 2020 County Rents and Prices of North Dakota – North Dakota Department of Trust Lands Publications

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