NASS: Farm Real Estate Value Up Across The PNW

According to NASS, Cash rent across the PNW varied this year, while farm real estate value moved higher in all three states.

Cash rent expense for all cropland in Idaho is estimated at $194 per acre this year, up $14 per acre from 2021.  Irrigated cropland is estimated at $262 per acre, up $26.00 per acre from 2021.  Non-irrigated cropland rental expense is $65.50 per acre, up $2.50 per acre from last year.

Oregon producers paid $182 per acre for all cropland, up $1 per acre year-over-year.  Irrigated cropland is estimated at $261 per acre, up $16.00 per acre from 2021.  Non-irrigated cropland rental expense is $101.00 per acre, up $6.00 per acre from last year.

And in Washington, all cropland rental expense is estimated at  $217 per acre for 2022, down $5 per acre from the previous year.  Irrigated cropland is estimated at $430 per acre, up $35.00 per acre from 2021.  Non-irrigated cropland rental expense is $76.50 per acre, up $1.50 per acre from last year.

Pasture cash rent expense was $12.50 per acre in Idaho for 2022, down $0.50 per acre from 2021. In Oregon, pasture cash rent was $11.50 per acre, up $0.50 per acre from the previous year. Washington producers paid $8.00 per acre for pasture rent, unchanged from last year.

Idaho farm real estate value, a measurement of the value of all land and buildings on farm, averaged $3,700 per acre for 2022, up $350 per acre year-over-year.  Oregon's farm real estate value averaged $3,040, an increase of $250 from last year.  While in Washington, farm real estate value averaged $3,100, up $200 per acre from the previous year.