Where are Nebraska's Farm Real Estate Values going? A new report explains.

Nebraska's farm real estate value, a measurement of the value of all land and buildings on farms, decreased from 2014, according to USDA's National Agricultural Statistics Service (NASS) report that came out August 2015.

Farm Real Estate Value Down 2 Percent

Farm real estate value for 2015 averaged $3,050 per acre. This is down $70 per acre or 2 percent lower than last year.

Cropland value declined 2 percent from last year to $5,070 per acre. Dryland cropland value averaged $3,970 per acre, down $30 from last year. Irrigated cropland value averaged $6,870 per acre, down $230 from a year ago. Pastureland, at $870 per acre, declined $30 from a year ago.

Pasture Rents Up

State-level cash rents paid to landlords in 2015 for cropland were mixed from last year. Irrigated cropland rent averaged $254 per acre, a decrease of $8 from last year. Dryland cropland rent averaged $160 per acre, up $11 from a year earlier. Pasture rented for cash, averaged $28.50 per acre, up $8 from the previous year.

A county-level cash rent survey was not conducted in 2015. NASS will next publish agricultural county-level cash rents data in September 2016. See the August 2015 full national report here.

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,020 per acre for 2015, up 2.4 percent from 2014 values. Regional changes in the average value of farm real estate ranged from a 6.1 percent increase in the Southern Plains region to 0.3 percent decrease in the Corn Belt region. The highest farm real estate values were in the Corn Belt region at $6,350 per acre. The Mountain region had the lowest farm real estate value at $1,100 per acre.

The United States cropland value increased by $30 per acre (0.7 percent) to $4,130 per acre from the previous year. In the Southern Plains region, the average cropland value increased 9.2 percent from the previous year. However, in the Corn Belt region, cropland values decreased by 2.3 percent.

The United States pasture value increased to $1,330 per acre, or 2.3 percent above 2014. The Southeast region was unchanged from 2014. The Lake States region had the highest increase at 15.4 percent.