WICHITA — A new government report shows the value of land and buildings on Kansas farms fell 7 percent last year.
The National Agricultural Statistics Service said Friday farm real estate value in 2016 averaged $1,880 per acre. That is down $150 per acre compared to the previous year.
Cropland values fell 7 percent to $2,050 per acre. Cropland with irrigation averaged $3,000 an acre, down $270 per acre. Cropland without irrigation averaged $1,940, down $150 an acre.
Pastureland was valued at $1,290 per acre, down $100 per acre.
The agency said cash rents paid to landlords for cropland was mixed with irrigated land up to $129 an acre, while dryland cropland was down to $56 per acre. Pasture rented for cash was down to an average $19 an acre.