Each year the US Department of Agriculture’s National Agricultural Statistics Service (NASS) issues a survey report of Cash Rents for crops and pasture. These reports can offer insight for producers as they consider lease lands for their cattle. While land values see a steady increase from year to year, there can be considerable variation in the rates producers pay to rent pasture. Data is not collected at the county level for pastureland value so our discussion as it relates to land value will be based on Florida’s statewide data.
The average value of Florida pastureland was $5,530/acre in 2021, increasing 2.4% from 2020. In the ten-year period of 2012-2021, pastureland value increased 14.7%. U.S. pastureland had a 33% increase in value over the same ten-year period. Figure 1. Illustrates the change in value in relation to state vs national data.
At $13/acre, the average rate to rent pastureland in Polk County in 2021 was $0.50 less than in 2020, a 3.8% increase. In the ten-year period of 2012-2021, pasture rent increased 30% from $10/acre to $13/acre. In Florida, pasture rents increased 36% over the same ten-year period. Figure 2. Illustrates the change in rents in relation to county vs state data.
For more information on this and other data collected by the USDA NASS visit www.nass.usda.gov.