NASS Releases Delaware and Maryland Statewide Cash Rental Rate Averages for 2022
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USDA’s National Agricultural Statistic Service (NASS) has updated data on cash rent paid by farmers in 2022. NASS collects this data annually from 240,000 farms across the United States through the Cash Rent Survey - data used by other agencies throughout USDA. The survey results give us an idea of what other tenants in a given area may be paying per acre for farmland.
One important note: many of you often ask me just what constitutes a reasonable cash rent price. I honestly have no idea what an affordable cash rent price is for you or any other party based on a specific piece of farmland. The averages will give you a good starting point, but you should consider a reasonable price carefully. Resources at http://www.aglease101.org can help calculate cash rent, crop-share rent, or flex-cash rent. Utilizing these resources can help determine rent prices that will work for you.
Nationally, cash rent averages in 2022 were up (table 1). Non-irrigated cropland cash rent went up from $128/acre in 2021 to $135/acre in 2022, a 4.73-percent increase. Irrigated cropland saw a 4.41-percent increase, going from $217/acre on average in 2021 to $227/acre in 2022. Since 2013, irrigated cash rental rates have risen over 11 percent per acre. Pasture rent rose 7.14 percent from $13/acre in 2021 to $14/acre in 2022.
How did we do in Maryland, and how did Delaware compare with national averages? The answer depends on where you lease farmland. Delaware saw cropland cash rents increase by 2.56 percent (table 2). Cropland cash rents in Delaware increased by $3/acre in 2022, going from $114 in 2021 to $117 in 2022. The average irrigated cropland in Delaware increased by 4.60 percent in 2022, from $166/acre average in 2021 to $174/acre average in 2022. The average for non-irrigated cropland in Delaware increased 7.37 percent, going from $88/acre in 2021 to $95/acre in 2022.
Maryland saw a 7.21-percent increase in average non-irrigated cropland cash rent or up from $103/acre in 2021 to $111/acre in 2022 (table 3). Average irrigated cropland increased by 1.99 percent in 2022, up from the $197/acre average in 2021 to $201/acre average in 2022. Average pastureland cash rents were down 3.92 percent in Maryland in 2022, going from $53/acre in 2021 to $51/acre in 2022.
NASS will release 2022 county cash rental rates later in August. For last year’s average cash rents, check out this publication or the UME Grain Marketing page.