Thank you to everyone who participated in this year’s land rent survey. Survey results indicate relatively flat rates in Fillmore County. Houston County saw a small increase in rates from the 2022-2023 survey. Historic rates and land rent resources are available at both the Fillmore and Houston County Extension offices.
According to our survey results, 2023 land rental rates in Fillmore County averaged $218.50/acre with a range of $80-$400/acre. The weighted average was $236.72/acre and the mode (most commonly reported) was both $200/acre and $250. In Houston County the rent average was $208.82/acre and ranged from $75-$350/acre. The weighted average in Houston County was $226.60/acre and the mode was $250/acres. The predicted average for 2024 land rental rates in Fillmore County is $219.91/acre and in Houston County is $211.21/acre.
Surveys were sent to 400 randomly selected landowners in each county. These landowners own at least 40 acres in the designated county. An equal percentage of landowners from each zip code were sent surveys along with land owners who live outside of the county. 65 surveys representing 8,214.5 acres of land were returned in Fillmore County while Houston County saw a return rate of 61 surveys representing 8,836.66 acres. All surveys were anonymous.
The results presented here are intended to be used as one piece of the discussion during land rent negotiations, not as specific values suggested by the University of Minnesota Extension. Individual parcels may warrant a land rent value above or below the presented average based on production potential, tenant and landlord relationships, economic goals, and other factors. It is the responsibility of the landlord and tenant to consider all of these factors when negotiating land rent agreements. Please remember that the University of Minnesota Extension does not advocate for one agricultural group over another. We are an unbiased source of information and we strive to help all agricultural parties. There are resources available at each county Extension office to aid in these conversations.
A signed rental agreement including the names of people involved, legal description of the land involved, length of agreement, pay provisions, and any other agreed upon items is a best practice and strongly recommended.
If you have questions about land rent or any other agriculture, horticulture or natural resources question please reach out to your local Extension Educator. Residents in Fillmore and Houston counties can call 507-765-3896 or 507-725-5807 or email wins0115@umn.edu.