Lake States
Michigan farmland value and cash rent on the Land Market Index
Southern Michigan field crops, fruit ridges, and a large northern hay and pasture acreage all sit inside one state average. Specialty-crop ground can be far from that mean.
Michigan farm real estate averaged $7,000 per acre in 2026, above the U.S. figure of $4,500.
2026 averages
- Farm real estate
- $7,000 / acre
- +2.9% from 2025
- Cropland
- $6,600 / acre
- +3.9% from 2025
- Pasture
- $3,200 / acre
- +3.2% from 2025
- Cropland cash rent
- $157 / acre
- +4.0% from 2025
- Pasture cash rent
- $41 / acre
- +17.1% from 2025
Dollars per acre. A state average is not the price of a specific farm.
Annual estimates
| Series | 2022 | 2023 | 2024 | 2025 | 2026 | 2025–2026 |
|---|---|---|---|---|---|---|
| Farm real estate | $5,470 | $5,880 | $6,310 | $6,800 | $7,000 | +2.9% |
| Cropland | $4,960 | $5,420 | $5,870 | $6,350 | $6,600 | +3.9% |
| Pasture | $2,710 | $2,850 | $2,970 | $3,100 | $3,200 | +3.2% |
| Cropland cash rent | $144 | $148 | $152 | $151 | $157 | +4.0% |
| Irrigated cropland cash rent | $243 | $259 | $264 | $260 | $260 | 0.0% |
| Non-irrigated cropland cash rent | $137 | $140 | $143 | $143 | $148 | +3.5% |
| Pasture cash rent | $32 | $29.5 | $32 | $35 | $41 | +17.1% |
What the rows mean
- Farm real estate
- Average value of all land and buildings used for agricultural production, including dwellings, if sold under current market conditions with a reasonable time on the market.
- Cropland
- Average value of land used for field crops, vegetables, or hay, including idle cropland and cropland in conservation programs. Land that alternates between crops and pasture is valued as cropland.
- Pasture
- Average value of land normally grazed by livestock. Animals do not have to be on the land during the survey year.
- Cropland cash rent
- Average cash rent for cropland. NASS measures this as rent expense in dollars per acre. Share rents are not included.
- Irrigated cropland cash rent
- Average cash rent for irrigated cropland, in dollars per acre.
- Non-irrigated cropland cash rent
- Average cash rent for non-irrigated cropland, in dollars per acre.
- Pasture cash rent
- Average cash rent for pastureland, in dollars per acre.
Counties
Nearby states
Have a photo of land in Michigan? Read its location.
Sources
- Land Values 2026 Summary, USDA National Agricultural Statistics Service, released 2026-07-31. Text tables. ESMIS archive.
- Quick Stats cash rent expense, dollars per acre, USDA National Agricultural Statistics Service. Retrieved 2026-10-25.
State and U.S. survey estimates. Blank cells were not published. Year-over-year rent changes in this file are calculated from those estimates. Land-value changes are the percents printed in the summary. Rent changes are calculated from the published yearly estimates. U.S. government figures are public domain and were not adjusted. A blank or “withheld” cell was not published.