undefined Agriculture Overview

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North Carolina has a rich agricultural history that continues to thrive and remains as one of the state’s largest industries. It is one of the largest exporters in the United States for several commodities including Tobacco, Pork, Poultry, and Cotton. Several other crops are major contributors to their agricultural output including Sweet Potatoes, Peanuts, as well as Greenhouse and Nursery products. As of 2017, 8.4 million acres in North Carolina is classified as agricultural land, 27% of the state's land area, with a total of more than 46,000 farms.

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Farmland Rental Rates

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north carolina Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the north carolina have risen from an average of $45 per acre in 1999 to $90 per acre in 2019. This represents an increase of $46 over this time period with an average implied capitalization rate of 1.8%.

$90

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.019941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 20$ 40$ 60$ 80$ 100Highcharts.com

1.8%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %0.5 %1 %1.5 %2 %2.5 %Highcharts.com

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