Agriculture generates about 4.3% of gross domestic product globally. In the United States, meanwhile, farming accounts for less than 1% of GDP, according to the World Bank. Though by no means an economic pillar, agriculture is a critical industry in the U.S., as about 85% of America’s food supply is produced domestically.
Of the more than 3.5 million square miles of land area nationwide, nearly 40% is used for farming or ranching. However, due to urban sprawl, American farmland is disappearing rapidly. Between 2000 and 2022, the U.S. lost nearly 2.3 million acres of farmland every year.
As tens of millions of acres of agricultural real estate has been lost to commercial and residential development in recent years, farmland has surged in value. According to the U.S. Department of Agriculture, an acre of farmland was worth an average of $4,080 in 2023, up from $2,090 in 2009. And in some parts of the country, farmland is many times more valuable than the national average.
Using data from the Land Values 2023 Summary report from the USDA’s National Agricultural Statistics Service, 24/7 Wall St. identified the states with the most valuable farmland. We ranked the 48 states with available data – every state but Alaska and Hawaii – by the average value of an acre of farmland in 2023. Listed crop land values in New England are an average for the entire region, and pasture land values for New England states as well as Delaware and Maryland are combined averages for each of those eight states.
Depending on the state, the average value of an acre of farmland ranges from $610 to as much as $18,300. The value of any given plot of farmland is subject to a number of factors – some directly related to agriculture and others purely economic. These include usage, productive capacity, climate, and supply and demand.
Worth an average of $5,4600, an acre of farmland used for crops is over three times as valuable as an acre of pasture land across the contiguous 48 states. Cropland is particularly valuable in California and most of the Corn Belt states, including Iowa, Illinois, Indiana, and Ohio. These states are home to large areas of highly-productive and versatile agricultural land. (These are the states with the most diverse landscapes.)
However, the states where farmland is the most valuable are those where it is also in shortest supply. Of the five smallest states in the continental U.S. by total land area, four also have the highest value farmland on a per acre basis. With high-price agricultural real estate, farms in many of the highest ranking states on this list tend to be relatively small operations.
48. New Mexico
- Avg. value of farmland in 2023: $610 per acre ($1,810 per acre of cropland; $490 per acre of pasture land – excludes American Indian Reservation land)
- Avg. farm size in 2023: 1,871 acres (1,407 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 39,100,000 acres (50% of state land area)
- Total farm operations in 2023: 20,900
47. Wyoming
- Avg. value of farmland in 2023: $880 per acre ($1,840 per acre of cropland; $670 per acre of pasture land)
- Avg. farm size in 2023: 2,743 acres (2,279 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 28,800,000 acres (46% of state land area)
- Total farm operations in 2023: 10,500
46. Nevada
- Avg. value of farmland in 2023: $1,060 per acre (excludes American Indian Reservation land)
- Avg. farm size in 2023: 1,903 acres (1,439 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 5,900,000 acres (8% of state land area)
- Total farm operations in 2023: 3,100
45. Montana
- Avg. value of farmland in 2023: $1,070 per acre ($1,170 per acre of cropland; $800 per acre of pasture land)
- Avg. farm size in 2023: 2,370 acres (1,906 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 57,600,000 acres (62% of state land area)
- Total farm operations in 2023: 24,300
44. Colorado
- Avg. value of farmland in 2023: $1,950 per acre ($2,610 per acre of cropland; $980 per acre of pasture land)
- Avg. farm size in 2023: 836 acres (372 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 30,000,000 acres (45% of state land area)
- Total farm operations in 2023: 35,900
43. North Dakota
- Avg. value of farmland in 2023: $2,320 per acre ($2,660 per acre of cropland; $1,070 per acre of pasture land)
- Avg. farm size in 2023: 1,552 acres (1,088 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 38,500,000 acres (87% of state land area)
- Total farm operations in 2023: 24,800
42. Oklahoma
- Avg. value of farmland in 2023: $2,450 per acre ($2,210 per acre of cropland; $1,950 per acre of pasture land)
- Avg. farm size in 2023: 468 acres (04 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 32,900,000 acres (75% of state land area)
- Total farm operations in 2023: 70,300
41. Maine
- Avg. value of farmland in 2023: $2,880 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 171 acres (293 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 1,200,000 acres (6% of state land area)
- Total farm operations in 2023: 7,000
40. Texas
- Avg. value of farmland in 2023: $2,900 per acre ($2,590 per acre of cropland; $2,200 per acre of pasture land)
- Avg. farm size in 2023: 541 acres (77 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 125,000,000 acres (75% of state land area)
- Total farm operations in 2023: 231,000
39. South Dakota
- Avg. value of farmland in 2023: $2,920 per acre ($4,550 per acre of cropland; $1,340 per acre of pasture land)
- Avg. farm size in 2023: 1,495 acres (1,031 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 42,300,000 acres (87% of state land area)
- Total farm operations in 2023: 28,300
38. Utah
- Avg. value of farmland in 2023: $2,940 per acre ($4,700 per acre of cropland; $1,540 per acre of pasture land – excludes American Indian Reservation land)
- Avg. farm size in 2023: 603 acres (139 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 10,500,000 acres (20% of state land area)
- Total farm operations in 2023: 17,400
37. Mississippi
- Avg. value of farmland in 2023: $3,060 per acre ($3,410 per acre of cropland; $2,770 per acre of pasture land)
- Avg. farm size in 2023: 331 acres (133 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 10,300,000 acres (34% of state land area)
- Total farm operations in 2023: 31,100
36. Kansas
- Avg. value of farmland in 2023: $3,060 per acre ($3,440 per acre of cropland; $2,150 per acre of pasture land)
- Avg. farm size in 2023: 807 acres (343 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 44,800,000 acres (86% of state land area)
- Total farm operations in 2023: 55,500
35. Oregon
- Avg. value of farmland in 2023: $3,180 per acre ($3,720 per acre of cropland; $950 per acre of pasture land)
- Avg. farm size in 2023: 431 acres (33 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 15,300,000 acres (25% of state land area)
- Total farm operations in 2023: 35,500
34. Washington
- Avg. value of farmland in 2023: $3,190 per acre ($3,000 per acre of cropland; $835 per acre of pasture land)
- Avg. farm size in 2023: 434 acres (30 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 13,900,000 acres (33% of state land area)
- Total farm operations in 2023: 32,000
33. West Virginia
- Avg. value of farmland in 2023: $3,200 per acre ($3,800 per acre of cropland; $2,450 per acre of pasture land)
- Avg. farm size in 2023: 154 acres (310 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 3,500,000 acres (23% of state land area)
- Total farm operations in 2023: 22,800
31. Alabama
- Avg. value of farmland in 2023: $3,500 per acre ($3,980 per acre of cropland; $3,000 per acre of pasture land)
- Avg. farm size in 2023: 232 acres (232 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 8,600,000 acres (27% of state land area)
- Total farm operations in 2023: 37,100
32. Louisiana
- Avg. value of farmland in 2023: $3,500 per acre ($3,240 per acre of cropland; $3,190 per acre of pasture land)
- Avg. farm size in 2023: 323 acres (141 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 8,000,000 acres (29% of state land area)
- Total farm operations in 2023: 24,800
30. New York
- Avg. value of farmland in 2023: $3,600 per acre ($3,300 per acre of cropland; $1,670 per acre of pasture land)
- Avg. farm size in 2023: 212 acres (252 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 6,500,000 acres (22% of state land area)
- Total farm operations in 2023: 30,700
29. Arkansas
- Avg. value of farmland in 2023: $3,600 per acre ($3,180 per acre of cropland; $2,900 per acre of pasture land)
- Avg. farm size in 2023: 366 acres (98 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 13,700,000 acres (41% of state land area)
- Total farm operations in 2023: 37,400
28. Idaho
- Avg. value of farmland in 2023: $3,810 per acre ($5,200 per acre of cropland; $2,040 per acre of pasture land)
- Avg. farm size in 2023: 509 acres (45 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 11,500,000 acres (22% of state land area)
- Total farm operations in 2023: 22,600
27. South Carolina
- Avg. value of farmland in 2023: $4,000 per acre ($3,300 per acre of cropland; $3,700 per acre of pasture land)
- Avg. farm size in 2023: 204 acres (260 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 4,600,000 acres (24% of state land area)
- Total farm operations in 2023: 22,600
26. Arizona
- Avg. value of farmland in 2023: $4,200 per acre (excludes American Indian Reservation land)
- Avg. farm size in 2023: 1,524 acres (1,060 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 25,000,000 acres (34% of state land area)
- Total farm operations in 2023: 16,400
25. Nebraska
- Avg. value of farmland in 2023: $4,240 per acre ($6,830 per acre of cropland; $1,440 per acre of pasture land)
- Avg. farm size in 2023: 991 acres (527 acres larger than avg. U.S. farm size)
- Total farmland in 2023: 44,000,000 acres (89% of state land area)
- Total farm operations in 2023: 44,400
24. Georgia
- Avg. value of farmland in 2023: $4,350 per acre ($4,200 per acre of cropland; $4,600 per acre of pasture land)
- Avg. farm size in 2023: 256 acres (208 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 10,000,000 acres (27% of state land area)
- Total farm operations in 2023: 39,000
23. Missouri
- Avg. value of farmland in 2023: $4,500 per acre ($4,610 per acre of cropland; $2,500 per acre of pasture land)
- Avg. farm size in 2023: 308 acres (156 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 27,000,000 acres (61% of state land area)
- Total farm operations in 2023: 87,600
22. Vermont
- Avg. value of farmland in 2023: $4,600 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 185 acres (279 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 1,200,000 acres (20% of state land area)
- Total farm operations in 2023: 6,500
21. Kentucky
- Avg. value of farmland in 2023: $4,700 per acre ($5,450 per acre of cropland; $3,400 per acre of pasture land)
- Avg. farm size in 2023: 179 acres (285 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 12,400,000 acres (49% of state land area)
- Total farm operations in 2023: 69,100
20. Tennessee
- Avg. value of farmland in 2023: $5,100 per acre ($5,000 per acre of cropland; $4,900 per acre of pasture land)
- Avg. farm size in 2023: 170 acres (294 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 10,700,000 acres (41% of state land area)
- Total farm operations in 2023: 63,100
19. New Hampshire
- Avg. value of farmland in 2023: $5,400 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 106 acres (358 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 420,000 acres (7% of state land area)
- Total farm operations in 2023: 3,950
18. Virginia
- Avg. value of farmland in 2023: $5,500 per acre ($5,700 per acre of cropland; $4,650 per acre of pasture land)
- Avg. farm size in 2023: 187 acres (277 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 7,300,000 acres (29% of state land area)
- Total farm operations in 2023: 39,000
17. North Carolina
- Avg. value of farmland in 2023: $5,550 per acre ($5,000 per acre of cropland; $5,550 per acre of pasture land)
- Avg. farm size in 2023: 191 acres (273 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 8,100,000 acres (26% of state land area)
- Total farm operations in 2023: 42,500
16. Wisconsin
- Avg. value of farmland in 2023: $6,200 per acre ($6,710 per acre of cropland; $3,150 per acre of pasture land)
- Avg. farm size in 2023: 236 acres (228 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 13,800,000 acres (40% of state land area)
- Total farm operations in 2023: 58,500
15. Michigan
- Avg. value of farmland in 2023: $6,400 per acre ($5,900 per acre of cropland; $3,100 per acre of pasture land)
- Avg. farm size in 2023: 210 acres (254 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 9,500,000 acres (26% of state land area)
- Total farm operations in 2023: 45,300
14. Minnesota
- Avg. value of farmland in 2023: $6,600 per acre ($6,820 per acre of cropland; $2,100 per acre of pasture land)
- Avg. farm size in 2023: 389 acres (75 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 25,400,000 acres (50% of state land area)
- Total farm operations in 2023: 65,300
13. Florida
- Avg. value of farmland in 2023: $6,900 per acre ($8,760 per acre of cropland; $6,500 per acre of pasture land)
- Avg. farm size in 2023: 218 acres (246 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 9,700,000 acres (28% of state land area)
- Total farm operations in 2023: 44,400
12. Pennsylvania
- Avg. value of farmland in 2023: $7,610 per acre ($8,620 per acre of cropland; $3,880 per acre of pasture land)
- Avg. farm size in 2023: 145 acres (319 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 7,100,000 acres (25% of state land area)
- Total farm operations in 2023: 49,000
11. Ohio
- Avg. value of farmland in 2023: $7,800 per acre ($8,200 per acre of cropland; $3,700 per acre of pasture land)
- Avg. farm size in 2023: 181 acres (283 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 13,700,000 acres (52% of state land area)
- Total farm operations in 2023: 75,800
10. Indiana
- Avg. value of farmland in 2023: $9,100 per acre ($8,400 per acre of cropland; $2,850 per acre of pasture land)
- Avg. farm size in 2023: 274 acres (190 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 14,600,000 acres (64% of state land area)
- Total farm operations in 2023: 53,300
9. Illinois
- Avg. value of farmland in 2023: $9,300 per acre ($9,580 per acre of cropland; $3,820 per acre of pasture land)
- Avg. farm size in 2023: 372 acres (92 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 26,300,000 acres (74% of state land area)
- Total farm operations in 2023: 70,700
8. Maryland
- Avg. value of farmland in 2023: $9,700 per acre ($8,950 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 159 acres (305 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 2,000,000 acres (32% of state land area)
- Total farm operations in 2023: 12,600
7. Delaware
- Avg. value of farmland in 2023: $9,800 per acre ($9,500 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 242 acres (222 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 520,000 acres (42% of state land area)
- Total farm operations in 2023: 2,150
6. Iowa
- Avg. value of farmland in 2023: $9,930 per acre ($10,100 per acre of cropland; $3,400 per acre of pasture land)
- Avg. farm size in 2023: 346 acres (118 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 30,000,000 acres (84% of state land area)
- Total farm operations in 2023: 86,800
5. California
- Avg. value of farmland in 2023: $12,400 per acre ($15,880 per acre of cropland; $3,650 per acre of pasture land)
- Avg. farm size in 2023: 378 acres (86 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 23,800,000 acres (24% of state land area)
- Total farm operations in 2023: 62,900
4. Connecticut
- Avg. value of farmland in 2023: $14,200 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 73 acres (391 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 370,000 acres (12% of state land area)
- Total farm operations in 2023: 5,100
3. Massachusetts
- Avg. value of farmland in 2023: $15,300 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 66 acres (398 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 470,000 acres (9% of state land area)
- Total farm operations in 2023: 7,100
2. New Jersey
- Avg. value of farmland in 2023: $17,700 per acre ($18,100 per acre of cropland; $16,600 per acre of pasture land)
- Avg. farm size in 2023: 70 acres (394 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 700,000 acres (15% of state land area)
- Total farm operations in 2023: 10,000
1. Rhode Island
- Avg. value of farmland in 2023: $18,300 per acre ($9,850 per acre of cropland; $8,290 per acre of pasture land)
- Avg. farm size in 2023: 57 acres (407 acres smaller than avg. U.S. farm size)
- Total farmland in 2023: 60,000 acres (9% of state land area)
- Total farm operations in 2023: 1,050
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