undefined Agriculture Overview

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Michigan is an agriculturally diverse state, and ranks in the top 5 in the nation for the number of unique commodities produced. Facilitating this diverse production mix are the large variations in climate, soil compositions, and markets across the state that can encourage growers to follow best practices for their area, which often vary widely as well. While Dairy products, Corn, Soybeans, and Cattle make up over 50% of the state’s total production, there is much more depth to this agricultural economy. For example, Michigan produces 26% of the Asparagus, 17% of the Cucumbers, and 10% of Sugar Beets grown and sold in the United States.

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Farmland Prices

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michigan Farmland Prices

Over the last 20 years, the price of farmland per acre in the michigan has risen by an average of 5% per year to $4,500 per acre as of 2019. This represents an increase of $2,680 per acre of farmland over this time period.

The values shown here only represent farmland appreciation. To view total farmland returns, including cash rent and land appreciation, see the Farmland Returns section.

$4,500

Current Price Per Acre

Value per Acre

Source: USDA

Created with Highcharts 7.2.019971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 1000$ 2000$ 3000$ 4000$ 5000Highcharts.com

5%

Average Land Appreciation

Year Over Year Change (%)

Source: USDA

Created with Highcharts 7.2.019971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019-10 %-5 %0 %5 %10 %15 %Highcharts.com

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Additional Documents

If you are interested in seeing a list of documents that are helpful for selling your farm, please download it here.

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