“This comes after 2020’s surveys showed statewide cropland rents had fallen 0.42% while land values went up slightly, 1.73%,” says Bryon Parman, North Dakota State University Extension agricultural finance specialist.
With respect to rents, NDSU county regional groupings showed surprising consistency across regions, he adds. Only two regions, the north-central and the southeast, showed any decline, at 1% and 1.88%, respectively.
“Although that is technically a decline, it is still not dramatically far off the state average of 0.77% growth and easily explained by data noise,” Parman says.
The two largest percentage changes of cash rents in any direction were in the northeast region, showing 3.56% growth, and the northern Red River Valley, showing 2.65% growth. Regions with a percentage growth between 1% and 2% were the northwest, at 1.32%, the southwest, at 1.36%, the south-central, at 1.95%, and the southern Red River Valley, at 1.4%. The east-central region data showed