OSU Extension completes a survey of Ohio land rents and publishes a report each year.  The latest report can be accessed at: https://farmoffice.osu.edu/farm-management-tools/farm-management-publications/cash-rents. Rock County reported 13 sales ranging from $5,051 per acre to $14,325 per acre, for a mean average of $8,581 and median of $8,299, with stable activity but lower prices. The cheapest offer starts at £140,000. a reasonable cropland lease rate might be $75 per acre/year. However, while grazing, silage and meadowing, and cereal crop land increased in Munster and Connaught/Ulster, they declined significantly in Leinster, falling back to 2016 levels. Now let’s examine Site Characteristics – Proximity to land already rented or owned is desirable, as are large tracts of land.  A field surrounded by houses or other development may diminish the rental value. For the state of Michigan, the average land rent price according to these surveys was $127 per acre in 2019. Leave this field blank. “A piece of arable land south of Birmingham worth £8,000/acre with planning for houses is going to be worth either side of £1m. Current statistics indicate that you’ll be able to demand a rental price that is equivalent to 4% of your land’s value. The report further stated that there were increased rents for potato, root crops / maize and pulses in all regions of the country. Neither text, nor links to other websites, is reviewed or endorsed by The Ohio State University. RELATED STORIES In the past, fair market land rental has often been slated somewhere in the range of 18 to 22 per cent of gross revenue (yield per acres times price per bushel), but with some land values having risen in the region of 14 to 22 per agree with TF £125 -150 per acre no fertilizer but only for fresh seeds capable of being silaged twice and lattermath grazing. Rent as a percentage of Save my name, email, and website in this browser for the next time I comment. $60 $50 $50 $65 $50 $55 $50 $45 $60 Cash rent paid for Missouri crop and pasture land in 2018. Management Information For Today's Agricultural Business. While the growth in land values is a positive, Zhang warned that it should not be labeled as a solid rebound of the land market. Farmland rental rates are variable (from free to more than $100/ac. Your email address will not be published. Ag Lease 101 can be accessed at:  https://aglease101.org/, OSU Extension’s Agricultural & Resource Law Program helps to provide research and outreach on legal issues affecting agriculture.  A variety of Law Bulletins are available from the Farm Leasing Law Library and include the following discussions: What’s in Your Farmland Lease?, Creating an Enforceable Farm Lease, Protecting Interests in a Verbal Farm Lease Situation, Leasing Your Land for Hunting, Crop Share Leasing in Ohio, and Legal Aspects of Ohio Farmland Leases.  The Agricultural & Resource Law Program can be accessed at: https://farmoffice.osu.edu/, National Ag Statistics Service https://www.nass.usda.gov/Statistics_by_State/Ohio/Publications/County_Estimates/2017/Ohio%202017%20Cash%20Rent%20County%20Est.pdf, Ohio State University Farm Management & Agricultural Resource Law. If the soil is decent, and there is no infrastructure such as buildings, municipal water, fencing, etc. For grazing and the main cereal crops, rents were highest in Munster, followed by Leinster with rent prices lowest in Connaught/Ulster, according to the report. The field may be located close to the renter’s farm, thus creating labor and fuel efficiencies. Map 8. The slides used during the presentation are also available for download. The Lakes States region value was $4,900 per acre, up slightly from 2018. I think the amount of land for rent will probably fall as lease lengths increase. The recording of our August 7th Indiana Farmland Values & Cash Rental Rates: 2020 Update webinar is available for viewing. The OASS divides the state into nine districts and reports values for most counties, along with an average by district.  The district averages for cropland rental range from $62.00 per acre to $190.00 per acre.  The district averages for pasture land rental range from $16.50 per acre to $50.00 per acre. During the recession, farmers were looking for rental income but I think that’s stopped now.