12 best farmland bargains (2024)

• Read more: America's best farmland bargains

1. West-Central Texas

• $600/acre
• Annual land payment: $50/acre
• Where: Scurry County and surrounding
• Soils: Clay and sandy loam
• Rainfall: 20-24 inches
• Crops: Wheat, hay, pasture

Budget to grow wheat
Costs (excluding land)

• Chemicals and seed: $111
• Machinery and fuel: $51
• Labor, insurance, interest: $14

Total: $176

Returns

• 30 bu/acre @ $7.50/bu: $225
• Return to land debt service: $49/acre

Cautions: Dry weather is always an issue here; irrigation is uncommon. Winter/spring grazing of wheat forage may be one possibility for adding more returns per acre.

• Extension budgets for Texas wheat

2. Central Wisconsin

• $5,000/acre
• Annual land payment: $410/acre
• Where: Adams County and surrounding
• Soils: Sandy prairie and forested
• Rainfall: 30-34 inches/year, irrigation common
• Crops: Pasture, alfalfa, corn, trees, potatoes

Budget to grow potatoes (irrigated)
Costs (excluding land)

• Fertilizer: $337
• Seed plants: $250
• Fumigation: $235
• Pest control: $250
• Machinery/fuel: $290
• Labor, trucking:
• Interest, misc: $220

Total: $1,582

Returns

• 350 cwt/acre @ $9/cwt: $3,150
• Return to land debt: $1,568/acre

Cautions: Water availability is a risk, along with access to market contracts for vegetables. Alfalfa can be a very good fallback crop in dairyland; so is corn silage. Some farms here sold on basis of "wet" acres because where irrigation doesn't reach, production is very limited.

• Extension budgets for Wisconsin vegetables

3. South-Central Florida

• $10,000/acre
• Annual land payment: $810/acre
• Where: Highlands County and surrounding
• Soils: Sandy
• Rainfall: 54 inches/year
• Crops: Citrus, vegetables, hay, cattle

Budget to grow oranges
Costs/acre

• Weed control: $204
• Pest management: $400
• Fertilizer: $659
• Pruning/irrigation: $252
• Tree replacement and decontamination: $316
• Interest, insurance, management, labor: $522

Total: $2,353/acre

Returns/acre

• 350 boxes/acre; 6 lbs. solids/box, $1.65/lbs. solids: $3,465
• Return to land debt: $1,112/acre

Cautions: Freezing weather, tropical storms, citrus Greening disease (and other diseases) present serious ongoing risks. The citrus market may be rebounding, and the general Florida economy is, too. A 12-month growing season gives many alternate cropping choices, including vegetables.

• Extension budgets for Florida citrus

4. Northern Missouri

• $1,400/acre
• Annual land payment: $118/acre
• Where: Sullivan County and surrounding
• Soils: Silt loam, clay, and sand
• Rainfall: 36 inches/year
• Crops: Pasture and hay

Budget to background steer calves (1 head/acre)
Costs (excluding land)

• Purchase (580 lbs.@$1.75): $1,015
• Grain, supplement: $42
• Labor, supplies, vet: $28
• Marketing, machinery, miscellaneous: $50

Total: $1,135

Returns

• Sale (835 lbs.@$1.50): $1,252
• Return to service land debt: $117/acre

Cautions: There is ongoing risk for markets, weather, and animal health. This land is well suited for lush grass and excellent cattle gains up to 2 pounds per day or more, especially when coupled with intensive grazing practices. (Our budget assumes 1.5 pounds per day gains.) Some farms in this area have flat, tillable acres, too.

• Extension budgets for Missouri cattle

5. Eastern Ohio

• $5,000/acre
• Annual land payment: $410/acre
• Where: Coshocton County and surrounding
• Soils: Sloping silt loam
• Rainfall: 37 inches/year
• Crops: Corn, wheat, hay, dairy

Budget to grow corn silage for dairy farms
Costs/acre

• Seed: $106
• Fertilizer: $273
• Herbicide: $44
• Fuel, hauling, Misc: $114
• Labor: $40
• Machinery: $178

Total: $755

Returns

• 25 tons/acre at $47.75/T: $1,194
• Return to service land debt: $439/acre

Cautions: Weather and markets are ongoing risks. Newer dairies in the region present market potential for silage or other forage crops. There's also a market in this area for high-value vegetables. Double-crop wheat and soybeans may work. too.

• Extension crops budgets for Ohio

6. Southwest Iowa

• $4,000/acre
• Annual land payment: $325
• Where: Decatur and surrounding counties
• Soils: Gently sloping silty clay loam. Rainfall: 37 inches/year
• Crops: Corn, soybeans, livestock

Budget to grow soybeans
Costs

• Seed: $57
• Fertilizer: $58
• Herbicide: $37
• Misc.: $31
• Machinery: $52
• Labor: $22

Total: $257/acre

Returns

• 50 bu/acre @ $12: $600
• Returns to service land debt: $343

Cautions: Weather and markets are ongoing risks in this nonirrigated area. There is borderline double-crop potential. Farms here are never 100% tillable; they are well-suited to livestock grazing for nontillable acres.

• Extension budgets for Iowa crops

7. Southeastern Wyoming

• $4,000/acre (irrigation in place)
• Annual land payment: $325
• Where: Niobrara and surrounding counties
• Soils: Fine sandy loam, gentle slopes Rainfall: 14 inches/year
• Crops: Grains, hay, livestock

Budget to grow irrigated alfalafa
Costs

• Stand establishment: $52
• Herbicide, insecticide: $52
• Fertilizer: $103
• Irrigation: $180
• Machinery, fuel: $152
• Taxes, labor, misc.: 55

Total: $594/acre

Returns

• 5 tons/acre @$200/ton: $1,000
• Returns to service land debt: $406

Cautions: Nontillable acres and water availability can limit production potential, and markets have to be pursued. With irrigation, several alternative cropping options are available, including corn and small grains.

• Extension budgets for alfalfa (Colorado)

8. Eastern North Dakota

• $5,000/acre
• Annual land payment: $410/acre
• Where: Traill County and surrounding
• Soils: Flat to sloping shallow loam
• Rainfall: 23 inches/year
• Crops: Grains, beans, potatoes, sugar beets

Budget to grow sugar beets/acre
Costs

• Seed: $173
• Fertilizer: $119
• Chemicals: $91
• Crop insurance: $33
• Fuel: $82
• Repair: $103
• Machinery: $217
• Labor: $54
• Miscellaneous: $89

Total: $961

Returns

• 27 tons/acre @ $52: $1,404
• Return to land debt: $443

Cautions: Weather, markets, foreign competition, and politics all present risks for sugar crops. Several high-value crops (potato and edible beans) do well here and are options, along with corn, soybeans, and small grains.

• Extension budget for North Dakota sugar beets

9. Eastern Oregon

• $5,000/acre
• Annual land payment: $410/acre
• Where: Union County and surrounding
• Soils: Gentle slopes, black silt loam
• Rainfall: Up to 25 inches/year
• Crops: Wheat, grass seed, potatoes, peppermint

Budget to grow Kentucky Bluegrass seed
Costs/acre

• Fertilizer, chemicals, irrigation: $202
• Harvest expenses: $115
• Off-season residue management: $97
• Labor: $20

Total: $444

Returns

• 1,200 lbs./acre @ $.85¢/lb.: $935
• Return to land debt: $491

Cautions: This area has the perfect climate for growing all kinds of grass seeds (cool, damp winters, dry summers). Securing production contracts is a necessity for seed crops, and water availability is an ongoing risk. Several other high-value crops (such as peppermint) are grown in rotation with the grass crops.

• Extension budget for Oregon grass seed crops

10. East-Central North Carolina

• $6,000/acre
• Annual land payment: $480/acre
• Where: Beaufort County and surrounding
• Soils: Combination deep black clay loam and rolling sandy
• Rainfall: 45 inches/year
• Crops: Tobacco, cotton, corn, wheat, timber

Budget to grow flue-cured tobacco

• Costs/acre
• Greenhouse plants: $214
• Fumigation: $180
• Fertilizer: $208
• Chemicals/pesticides: $101
• Sucker control: $188
• Curing fuel: $419
• Machinery/hauling: $359
• Labor: $786
• Insurance, miscellaneous: $281
• Barn, machinery depr.: $391

Total: $3,127

Returns

• 2,400 lbs/acre @ $1.80: $4,320
• Return to land debt: $1,190

Cautions: For tobacco crops, market contracts must be secured, crop rotations are required, and it is labor-intensive. Tillable acres may be low percentage in this area. There are many double-crop and alternative vegetable crop opportunities.

• Extension budgets for North Carolina tobacco

11. Southeast Arkansas

• $4,500/acre
• Annual land payment: $365/acre
• Where: Drew County and surrounding
• Soils: Flat and gently rolling, sandy and silt loam
• Rainfall: 53 inches/year
• Crops: Corn, soybeans, cotton, rice

Budget to grow hybrid rice
Costs/acre

• Seed: $144
• Fertilizer: $137
• Chemicals: $114
• Machinery, fuel: $119
• Irrigation: $174
• Drying/hauling: $108
• Labor, misc.: $45

Total: $839

Returns

• - 190 bu/acre @ $6.50: $1,235
• - Returns to land debt: $396

Cautions: Irrigation is needed to grow rice, and there is risk of water availability, and expense of pumping costs. Cropping choices and double-crop opportunities are numerous. Some land here needs improvements: drainage, fertility, brush removal, etc.

• Extension site, Arkansas rice budgets

12. South Georgia

• $3,500/acre
• Annual land payment: $285/acre
• Where: Colquitt County and surrounding
• Soils: Sloping loam and sandy loam
• Rainfall: 49 inches/year
• Crops: Corn, cotton, peanuts, soybeans

Budget to grow cotton
Costs/acre

• Seed: $91
• Fertilizer: $102
• Herbicide/Insecticide: $111
• Machinery: $185
• Labor, misc.: $110

Total: $599

Returns

• 1,150 lbs @ $.80: 920
• Returns to land debt: $321

Cautions: Many acres in this area were at one time in CRP and are now being returned to production. Irrigation is needed to achieve consistently good yields. Many crop and double-crop options, including some high-value vegetable crops.

• Extension budgets for Georgia cotton