undefined Agriculture Overview

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Agriculture in Arizona is a major contributor to the state’s economy, as well as the U.S. economy. With a climate that promotes year-round growth of a wide variety of crops, farmers grow a diverse mix of crops including cash crops such as cotton, alfalfa, and wheat as well as specialty crops such as fresh vegetables and nursery crops. In fact, Arizona is the third-largest producer of fresh vegetables in the United States. As of 2017, there were 19,086 farms in the Grand Canyon State spread across over 26 million acres of agricultural land.

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Farmland Rental Rates

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arizona Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the arizona have risen from an average of $225 per acre in 1995 to $249 per acre in 2019. This represents an increase of $24 over this time period with an average implied capitalization rate of 2.7%.

$249

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.01995199619972010201120122013201420152016201720182019$ 0$ 60$ 120$ 180$ 240$ 300Highcharts.com

2.7%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199720102011201220132014201520162017201820190 %0.8 %1.6 %2.4 %3.2 %4 %Highcharts.com

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