recent farmland sales in milton township ashland ohio

The primary factors affecting these values and rents are land productivity and potential crop return, and the variability of those crop returns.

Generally, western Ohio cropland values and cash rents differ from much of southern and eastern Ohio cropland values and cash rents. Ohio cropland varies significantly in its production capabilities and, consequently, cropland values and cash rents vary widely throughout the state. Professionals surveyed were rural appraisers, agricultural lenders, professional farm managers, ag business professionals, OSU Extension educators, farmers, landowners, and Farm Service Agency personnel. The opinion-based study surveyed professionals with a knowledge of Ohio’s cropland values and rental rates. The Ohio Cropland Values and Cash Rents study was conducted from January through April in 2021. The National Ag Statistics Service (NASS) also summarizes average cash rental rates by county available through Ohio NASS: Each year, Ohio State University Extension (The Ohio State University College of Food, Agricultural, and Environmental Sciences) conducts an Ohio Cropland Values and Cash Rents Survey. Average cash rents in Ohio increased 2.6% in 2021 to $160 per acre according to this survey. Pastureland value in Ohio increased 2.1% to $3,440 per acre in 2021. Average Cropland value is $6,800 per acre in 2021 according to this survey. Ohio Cropland (bare cropland) showed an increase of 5.3% from 2020 to 2021. Recent data from the United States Department of Agriculture National Ag Statistics Service (NASS) August Land Values 2021 Summary shows Ohio Farm Real Estate increasing 3.9% from 2020 to an average of $6,600 per acre in 2021. Similar factors have impacted cash rental markets in Ohio and will likely continue to pressure rental rates higher in the near term. Higher production costs and recent minor decreases in crop prices may decrease profit margins this next year and take some strength out of the market but farmland will likely continue to see increases in value through the end of this year and into the next year. High crop prices and margins along with last year’s COVID-19 related government payments and continued low interest rates have all contributed to stronger land markets.

Leader Production Business Management- The Ohio State University College of Food, Agricultural, and Environmental Sciences, Ohio State University Extensionįarmland prices have strengthened in recent months and there are a number of key fundamentals that will likely continue to support land values in the near term.

Recent farmland sales in milton township ashland ohio