undefined Agriculture Overview

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Farming is an important economic driver of Delaware’s economy, which has a very long history in “The First State” that played an important part in the founding of our country. When the first European settlers arrived in Delaware for the first time in 1631, they relied heavily on their agricultural land which provided wheat, barley, indian corn, peas, and livestock critical to their survival. Farming is still very much a family affair in Delaware as nearly 90% of the 2,302 farms are still family owned.

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Farmland Rental Rates

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delaware Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the delaware have risen from an average of $56 per acre in 1999 to $119 per acre in 2019. This represents an increase of $63 over this time period with an average implied capitalization rate of 1.1%.

$119

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.019941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 25$ 50$ 75$ 100$ 125Highcharts.com

1.1%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %0.6 %1.2 %1.8 %2.4 %3 %Highcharts.com

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