undefined Agriculture Overview

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Ohio is one of a small number of states with more than 50% of its land area devoted to agricultural land. A combination of good growing conditions, soil fertility and soil diversity (Ohio has over 400 unique soil types) allow producers to grow a variety of crops and also make it a powerhouse for cash crops such as corn and soybeans. Other examples of crops commonly produced in Ohio include: Tomatoes, Bell Peppers, Pumpkins, Squash, and over 200 additional crops. The number of farms in Ohio grew from 75,462 to 77,805 from 2012 to 2017 with an average size of 179 acres.

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Farmland Rental Rates

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ohio Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the ohio have risen from an average of $74 per acre in 1999 to $155 per acre in 2019. This represents an increase of $81 over this time period with an average implied capitalization rate of 2.6%.

$155

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.019941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 40$ 80$ 120$ 160$ 200Highcharts.com

2.6%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %0.8 %1.6 %2.4 %3.2 %4 %Highcharts.com

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