Explore undefined agriculture and learn what makes it unique.
New Jersey is host to some of the most productive ground per acre in the United States and as a result, ranks the highest in terms of dollar per acre of agricultural land. Just under 16% of New Jersey’s total land area is dedicated to agricultural production and there are nearly 10,000 farms with an average size of 74 acres. In total, crops make up 90% of New Jersey’s agricultural production with the Greenhouse, Nursery, Floriculture, and Sod industry leading the way, accounting for $498 million of the billion dollar agriculture industry in the state. Other crops commonly produced include Fruits, Tree Nuts, Berries, Melons, and Potatoes.
Over the last 20 years, farmland rental rates per acre in the new jersey have risen from an average of $51 per acre in 1999 to $82 per acre in 2019. This represents an increase of $31 over this time period with an average implied capitalization rate of 0.5%.
Current Rental Rate Per Acre
Cash Rent per Acre
Average Annual Cap Rate
Implied Annual Capitalization Rate