2025 Land Values by State: What USDA's Numbers Mean for Land Investors
USDA's 2025 land values by state: national averages, the fastest rising states, the highest and lowest priced states, and how land investors can use the data.
Every August, USDA’s National Agricultural Statistics Service publishes its Land Values Summary: average values per acre for farm real estate, cropland and pasture in each state. The 2025 report is one of the few consistent, nationwide sources of land value data, which makes it useful for land investors, with the right caveats.
All figures below come from the USDA NASS Land Values 2025 Summary.
The national picture
| Measure | 2025 average per acre | Change vs 2024 |
|---|---|---|
| Farm real estate (land and buildings) | $4,350 | +4.3% |
| Cropland | $5,830 | +4.7% |
| Pasture | $1,920 | +4.9% |
Values rose again across all three measures.
Fastest rising states for farm real estate
| State | 2025 per acre | Change vs 2024 |
|---|---|---|
| Michigan | $6,800 | +7.8% |
| Tennessee | $6,150 | +7.7% |
| South Dakota | $2,970 | +6.8% |
| Ohio | $9,350 | +6.7% |
| Texas | $2,970 | +6.1% |
| Utah | $3,500 | +6.1% |
Tennessee stands out: its average is up 43% since 2021. See the Tennessee land market page.
Highest and lowest priced states
The most expensive farm real estate is in the Northeast and California: Rhode Island ($22,500), New Jersey ($16,600), Massachusetts ($14,900), Connecticut ($14,400) and California ($13,700). The lowest averages are in the Mountain West: New Mexico ($725), Wyoming ($1,000), Nevada ($1,200) and Montana ($1,230).
How land investors can use this data
Spot momentum. Fast rising states often mean more owners getting offers and more buyer demand on the exit. That can be good for flips, and it can also mean more competition for sellers.
Sanity check your pricing. A state average will not price a parcel, but it will catch an estimate that is wildly off. Always price from local sold comps (see how to price a land offer).
Compare pasture and farm real estate. Pasture values are often closer to what large, raw tracts trade for than the farm real estate average, which includes buildings.
Caveats
- These are agricultural values. Infill lots, recreational land and land near growing metros can trade far above them.
- State averages hide large differences between counties.
- USDA withholds some figures to protect individual operations, and the report does not cover Alaska or Hawaii.
Explore every state on our interactive land markets map.