undefined Agriculture Overview

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Agriculture is the number 1 commercial industry in Maryland producing over 350,000 jobs for the state. Over 31% of Maryland’s total land area is considered farmland and there are a total of 12,429 farms with an average size of 160 acres. Farmers produce a diverse mix of commodities, but Poultry and Livestock make up more than 61% of Maryland’s total agricultural sales. The primary crops produced in Maine are Corn, Soybeans, and Wheat. However, several additional crops are rather commonly produced including Watermelon, Snap Beans, Apples, and Grapes among many others.

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Farmland Rental Rates

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maryland Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the maryland have risen from an average of $54 per acre in 1998 to $109 per acre in 2019. This represents an increase of $55 over this time period with an average implied capitalization rate of 1.2%.

$109

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.01994199519961997199819992000200120022003200420052006200720082009201020112012201320142016201720182019$ 0$ 25$ 50$ 75$ 100$ 125Highcharts.com

1.2%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.019971998199920002001200220032004200520062007200820092010201120122013201420162017201820190 %0.4 %0.8 %1.2 %1.6 %2 %Highcharts.com

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