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Associated Press, Published August 03 2013

ND farm real estate value, cropland up from 2012

FARGO — Farm real estate in North Dakota has increased in value by 36 percent.

The Agriculture Department says in a new report that the value of farm land and buildings in 2013 averaged $1,690. That is up $450 per acre.

Cropland value increased 41 percent from last year to $1,910 per acre. Pastureland value was $630 per acre, up $140.

Cash rent paid to landlords in 2013 for cropland increased from last year. Irrigated cropland rent averaged $165 per acre, an increase of $29. Dry land cropland rent averaged $64 per acre, up $7.

Pasture rented for cash, which averaged $15 per acre, is up $1 from the previous year.