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2021 farmland rental rate information

by Dave Bau, Extension educator

At the end of last year, several Farmland Rental Rate Workshops were held virtually due to the COVID-19 virus. Several originally scheduled in-person sessions were changed to virtual, as well. If you would like to watch a recorded video from one of these sessions for various locations across the state, they can be found at z.umn.edu/2020LandRentRecordings.

The materials presented at the workshops can be found at: https://extension.umn.edu/business/farmland-rent-and-economics. Here you can find a statewide map with rental rates, a spreadsheet by county of cropland rental rates and worksheets for landlords and farmers to fill out to help determine what a fair rental rate is for 2021 for farmland or pasture.

In the table below, you can see the average rent for fourteen counties in southwest Minnesota, paid by farmers in the adult farm management programs. The estimated rents for 2020 and 2021 are listed in the last two columns. The 2020 and 2021 estimated rental rates were determined using FINBIN actual rental data through 2019. 

Trends from FINBIN for rents from 2018 to 2019 changed by a negative 0.4 percent. The decline of 0.4 percent multiplied by the 2019 rental rates was used to determine an estimate for 2020. The 2021 estimate used the estimated zero percent change in rents from 2019 to 2020, based on USDA estimated rents, to determine 2021 rents.

Counties

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020 Est.

2021 Est.

Brown

154

176

207

208

211

205

210

207

179

195

194

194

Cottonwood

148

164

174

196

200

192

196

184

187

193

192

192

Jackson

157

167

209

219

223

213

214

195

205

196

195

195

Lincoln

163

167

168

165

168

159

155

175

149

172

171

171

Lyon

140

168

185

218

223

222

197

202

198

192

191

191

Martin

181

210

254

274

272

255

245

234

232

233

232

232

Murray

154

168

237

265

268

238

230

225

220

208

207

207

Nicollet

169

197

223

251

263

245

231

223

206

216

215

215

Nobles

146

168

182

207

202

200

201

191

191

191

190

190

Pipestone

136

150

223

219

236

213

229

202

208

216

215

215

Redwood

158

173

187

211

213

207

198

197

203

199

198

198

Rock

180

193

232

202

205

195

190

190

201

190

189

189

Sibley

192

203

245

262

263

250

252

237

232

219

218

218

Watonwan

165

177

218

256

239

238

225

215

214

215

214

214

Average

160

177

210

225

228

217

212

206

202

203

202

202


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