How much do farmers pay to lease land in Illinois?
Average Illinois cash rents were $223 per acre in 2018, $224 in 2019, $222 in 2020, and $227 per acre in 2021.
How much does an acre of land cost in Illinois 2020?
Excellent land averaged $10,313 per acre across all regions of Illinois in the Illinois Society of Professional Farm Managers and Rural Appraisers half-year update of land prices.
How much is land in Illinois per acre?
The average farm real estate value for Illinois in 2020 was $7,400 per acre. This includes the value of all land and buildings. The figure was 1.6% percent higher than the 2019 average of $7,280 per acre.
How much is farm land in Illinois?
illinois Farmland Prices Over the last 20 years, the price of farmland per acre in illinois has risen by an average of 7% per year to $7,300 per acre as of 2019. This represents an increase of $4,950 per acre of farmland over this time period.
What is farm cash rent?
What is a cash-rent tenant? Cash-rent tenants means a producer who rents land from another producer or landowner for a fixed cash amount or fix quantity of crop or crop proceeds.
How does farmland calculate cash rent?
A cropland cash rental rate can be computed by multiplying the average CSR2 by a rental rate per CSR2 point. For example, assume a typical rental rate per CSR2 index point of $2.75 for your county. A tract of land with a CSR2 of 80 would have a rental rate of $220 ($2.75 × 80 CSR2 = $220) per acre.
Where is the cheapest land per acre?
Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.
How much is cash rent in Illinois?
The average cash rent in Illinois was $227 per acre, a $5 increase over 2020 levels. Over time, cash rents typically follow agricultural returns in a lagged manner. Higher returns in 2020, along with projected higher returns in 2021 and 2022, likely lead to upward pressures on 2022 cash rents.
What is cash tenant?
Cash-rent tenants means a producer who rents land from another producer or landowner for a fixed cash amount or fix quantity of crop or crop proceeds.