North Dakota’s average cropland prices have slowed or slightly declined in some regions, according to a May 6 report from the North Dakota Department of Trust Land’s annual land survey.
The change comes after four consecutive years of double-digit increases in land values. This development is important for farmers and landowners who track agricultural market trends and make decisions based on the value and rental rates of cropland.
Statewide, cropland values grew by just 0.88% from 2025 to 2026. Bryon Parman, agricultural finance specialist at North Dakota State University Extension, said he sees the average flattening after several years of steady growth. “While it was widely expected that there would be a slowdown in cropland price growth across the state, which the state average supports, it is a bit surprising to see the wider regional swings,” said Parman.
The data showed notable differences among regions: North Central saw an increase of over 8%, Northwest nearly 6%, South Central just below 5%, and East Central about 2%. Meanwhile, Southeast experienced a decline of nearly -7.5%, Southwest dropped by just over -3%, and Northeast fell almost -1%. The North and South Red River Valley had little change in prices compared to last year.
Rents increased more than land prices statewide for the first time in several years, rising by about 2%. Rental rates were less variable than land prices; three regions — Southwest, Southeast, and North Red River Valley — remained essentially unchanged with shifts under one percent. The largest rent decrease occurred in South Red River Valley at -2.5%. Other areas saw rental rate increases ranging from under two percent up to more than eight percent.
Parman said sales volume slows when farm profits are thin: “So, if there were a region where a few individuals are making purchases, this could drive those averages up, while in other regions, a few sales at below the previous years’ averages can pull those averages down further than they normally would.” He also explained that rental rates typically adjust more slowly because many contracts span multiple years.
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