Cash Rents and Farmland Values

Results from the Western Ohio Cropland Values and Cash Rents Survey show cropland values in western Ohio are expected to increase in 2024 by 3.3 to 5.8 percent depending on the region and land class. Cash rents are expected to increase from 3.2 to 3.8 percent in 2024 depending on the region and land class. Decreasing profit margins have competed with relatively strong farm equity positions and increasing property taxes to direct values and rents so far in 2024. Cropland values and cash rents are expected to increase although they are projected to be smaller increases than the past two years.