Understanding common crop and pastureland money rental charges may be useful to each agricultural producers and landowners in planning leasing preparations or making manufacturing choices.
Data of farmland money rental charges may be helpful for updating leasing preparations and for budgeting prices of manufacturing. Highlights from this yr’s statistics embody:
● Money rental charges modified barely in Alabama from 2020.
● Cropland averaged $66.5, down $1.50 from 2020.
● Pastureland averaged $24, up $1 from 2020.
● The statewide charge for irrigated cropland was $120 per acre, in comparison with $64 for non-irrigated cropland.
● The adjustments in cropland money rental charges have been a blended bag for the neighboring states with charges rising in Georgia, Mississippi, and Tennessee however lowering in Florida.
● Money hire varies vastly by county inside Alabama, with highest charges for the next:
1. Irrigated cropland within the Wiregrass area
2. Non-irrigated cropland within the Northern Valley and Coastal Plains and Gulf Coast areas
3. Pastureland within the Wiregrass area
Statewide money rental values have steadily elevated in Alabama over the previous decade, related to its neighboring states (determine 1). Cropland averaged $66.5 per acre in Alabama, down 2 % from 2020.
Irrigated cropland had a rental charge of $120 per acre, a lower of $15 from 2020, whereas non-irrigated cropland obtained a charge of $64 per acre, which follows six years of charges at $22 or $23.
Pastureland had a rental charge of $24 per acre, rising $1 from 2020. Over the previous decade, each cropland and pastureland rental values have had modest will increase in all states throughout the area.
Cropland charges in Alabama lag behind the opposite states, with Georgia main the best way at $135 per acre. For pastureland, Alabama is just behind Georgia, which leads the area with a charge of $30 per acre.
Rental charges differ vastly throughout the state. Determine 2 reveals money hire values by county (or group of counties) and kind of farmland. The very best-value non-irrigated cropland continues to be in Lawrence, Limestone, Colbert, and Escambia Counties, which all had rental charges at $100 or above.
The bottom charge for non- irrigated cropland was Coosa County ($15.50 per acre). Pastureland obtained the very best charge in Baldwin County ($41.50 per acre), with the bottom charge in Jefferson County ($8.80 per acre).
In comparison with 2020, money hire for irrigated cropland elevated in 13 of the state’s 67 counties, whereas money hire for non-irrigated cropland elevated in 27 counties. Outcomes have been blended for pastureland with 31 counties seeing declines in money hire from 2020. A few of these variations throughout years are as a result of adjustments in methodology concerning the extent at which money hire was measured. As an example, in 2020, the speed for non-irrigated cropland in Lowndes County was measured as a multicounty common with the remainder of the Black Belt area, whereas in 2021 it was measured independently.
Thus, the 181 % improve in worth for a few of these counties seemingly displays the inclusion of higher-value counties within the common. Whereas the county- degree values could give a tough estimate of the money hire, they’re typically mixed with different counties’ values, so please hold that in thoughts when utilizing this info.
Common cropland and pastureland money rental charges may be useful to each agricultural producers and landowners when planning leasing preparations or making manufacturing choices.
Nonetheless when utilizing this info, please understand that attributes of plots of land differ inside a county, and the values offered on this doc are merely averages. Cautious thought must be used when making any choices concerning the rental worth of land.