WASHINGTON, D.C. — The value of U.S. farmland reached a new record high in 2025. Still, the market is showing signs of cooling, according to the U.S. Department of Agriculture’s latest Land Values Summary Report. The national average for farm real estate—including land and buildings—increased by $180 to $4,350 per acre, marking a 4.3% increase. While this is the fifth consecutive year of growth, it is a slower pace compared to the rapid appreciation seen in earlier years of the decade.

The report highlights that both cropland and pastureland also hit record values. The average value for cropland rose by 4.7% to $5,830 per acre, while pastureland values climbed 5% to $1,920 per acre.

Regional Variations and Market Drivers

Growth in land values varied significantly by region. Michigan le

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