Indiana Farms For Rent In Fulton
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The average size farm in Indiana was 279 acres per farm, up 5 acres from 2023. The number of farms in the United States for 2024 is estimated at 1,880,000, down 14,950 farms from 2023. Total land in farms, at 876,460,000 acres, decreased 2,100,000 acres from 2023.
Land Tenure Still, 52% of ag land is operated by part owners, and less than 10% of ag land is operated by someone who exclusively rents land. Overall, this amounts to 39% of all acres being leased. Twenty-eight percent of farms operate partly or entirely on rented land.
Indiana is the ninth largest farming state in the nation.
Illinois Farmland Returns Over the last 20 years, illinois farmland has offered average returns of 10.51%. At this rate, $10,000 invested in farmland in 2003 would now be worth over $70,126. Farmland returns are made up of two values, land appreciation, and capitalization rates of the property.
In our region, an acre of farmland now sells for $19,200 per acre in midwestern Ontario, up 8.5 per cent from 2022. In southwestern Ontario, it's $23,100 to buy an acre of farmland, up 13.3 per cent. Despite high interest rates, and some middling commodity prices, farmland continues to be very valuable.
Indiana's Land Market: An Overview Proximity to major Midwest cities like Indianapolis and Chicago contributes to demand. Urban and suburban plots often sell for higher premiums, while remote rural lands may trade for lower prices per acre depending on terrain, infrastructure access and other variables.
Leasing Land Connect with the local farming community and get the word out about your search. The Cooperative Extension program from the National Institute of Food and Agriculture (NIFA). The USDA-RD/FSA Resale tool provides property listings owned by the government for public sale.
For pastureland, the average rental per acre at $15 is up $1 from 2022. Source: USDA NASS. For irrigated cropland, rates ranged from $86.50 in Wyoming to $486 in California; for non-irrigated cropland, they ranged from $20 in Wyoming to $269 in Iowa; and for pastureland, $2.60 in Arizona to $60.50 in Iowa.
Generally speaking, there is no minimum acreage for farm tax exemption. There may, however, be specific acreage minimums required to be considered for certain land classifications such as a “greenbelt” property.
