Explore undefined agriculture and learn what makes it unique.
North Dakota benefits from an abundance of extremely rich, fertile soil as well as climate and weather patterns that make the land capable of producing high crop yields without irrigation and raising healthy Livestock in abundance. For these reasons and more, agriculture is a massive industry in North Dakota and nearly 90% of the state’s total land area is classified as farmland. In terms of agricultural revenue, the top 5 commodities in North Dakota are: Soybeans, Wheat, Corn, Cattle, and Canola. As of 2017, there are 26,364 farms in North Dakota encompassing a total of 39.3 million acres with an average size of 1,492 acres. North Dakota is host to some of the largest farms in the nation on average and commonly ranks in the top 10 states for this metric.
Over the last 20 years, farmland rental rates per acre in the north dakota have risen from an average of $36 per acre in 1999 to $70 per acre in 2019. This represents an increase of $34 over this time period with an average implied capitalization rate of 5.4%.
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