In 1995, one acre of farmland in Missouri was valued at $880, according to the U.S. Department of Agriculture. Last year, it reached a record high of $3,400, marking a 286% increase over 25 years. The value of farmland, defined by the USDA as the value of all land and buildings on farms, has consistently been slightly higher in Missouri than nationally.
The value of cropland in the state has increased by 235% since 1997 and reached $3,490 in 2019. Cropland is defined by the USDA as land used to grow field crops or vegetables, or land harvested for hay. Unlike the farmland value’s continuous growth over each year, the cropland land value has been steadily dropping since 2014. Between 2014 and 2019, it was down by 8.4%.
The value of pasture land, defined as land grazed by livestock, has been relatively volatile compared to farmland and cropland. Overall, it showed a 200% increase since 1997, hitting a record high of $1,980 per acre in 2019.