RICHMOND, Va. (AP) — The value of farm real estate in Virginia has increased over the past year.
A federal survey shows that the value of land and buildings on farms was an average $4,320 per acre this year. That’s up from $4,310 per acre in 2013.
Cropland value increased by $10 per acre to $4,460. The value of pastureland was unchanged at $3,930.
Cash rent paid for cropland also increased. Irrigated cropland rent paid to landlords rose by $15 to an average $100 per acre. Dryland cropland rent increased by $4 to an average $54 per acre.
Cash rent paid for pasture was unchanged at an average $21 per acre.
The survey was conducted by the National Agriculture Statistics Service.
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