New York farmland values rise this year, USDA says

The value of farmland in New York state is rising, according to a recent report from the USDA National Agricultural Statistics Service (NASS). The farm real estate average value per acre is estimated at $4,150 this year, up 4.8 percent from $3,960 in 2023, per the Aug. 2 NASS report. The cropland average value per acre is pegged at $3,850 in 2024, up 6.1 percent from $3,630 last year. NASS also says that pasture average value per acre in New York rose 3.8 percent this year to $1,910 from $1,840 in 2023. The agency additionally estimates that the value of farmland and buildings in the state has increased 6.5 percent to $25,740 in 2024 from $24,180 a year earlier.