What’s a farm worth?
Connecticut has the third-highest farm real estate value in the Northeast region, according to the U.S. Department of Agriculture’s 2017 Land Values Report. Farm real estate in Connecticut, including all land and buildings on farms, averaged $11,200 per acre, third only to Rhode Island at $13,800 per acre and New Jersey at $12,800 per acre.
The farm land value in Connecticut was basically unchanged since 2013, when it was $11,100 per acre. In 2015 the value rose to $11,300 but fell $100 per acre the following year.
Maine saw the highest percentage increase of 5.3% from $2,090 per acre in 2016 to $2,200 per acre in 2017. None of the 11 states measured in the report saw land values decrease.
Nationally, farm real estate is valued at an average of $3,080 per acre, excluding Alaska and Hawaii.