Average Cash Rents for a Parcel of Farmland 2020

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Cash rents exhibit large variations from the above averages. For example, 60% of the rents on McLean County farms enrolled in Illinois Farm Business Farm Management (FBFM) in 2019 were within a range from $214 to $287 per acre. Note that the remaining 40% of the rents were outside that $73 per acre range. Rent variations often are due to the farm’s characteristics, including soil productivity, drainage, land access, land terrain, field size, and field obstructions. Desires of the landowner also play a large role in rent levels. • Schnitkey, G., D. Lattz, K. Swanson and C. Zulauf. Cash Rents in 2020 and 2021 Projections. farmdoc daily (10):165, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, September 15, 2020. • https://farmdocdaily.illinois.edu/202... • Schnitkey, G. Determining the Average Cash Rent Based on Productivity Index. farmdoc daily (7):205, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, November 7, 2017. • https://farmdocdaily.illinois.edu/201...

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