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Indiana Farmland

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Anonymous-0

Well-known Member
Just curious what the going rate is per acre to rent 20-30 acres of flat ground in central Indiana that has been used mostly for corn, soy beans and hay. Or is there any such thing as "going rate"...Thanks...OCG
 
Check with your county extension office, they should have a rough county average for cash rent the past year. Or find some one close by who has similar land they rent out and ask what they are getting. Half a state south of you in North West KY going rate is any where from $120 to $200 for row crop ground depending on what and where it is.

Dave
 
Here in east central Illinois a flat black piece of ground will rent for $200 to $300 per acre. There may be a little discount for a piece that is that small, but the farm south of me that isn't real great ground just rented for $175/acre. Kinda makes me wonder why I bother farming any more.
 
Someone just paid $250 an acre for ground next to mine in NW IN. This isn"t great ground either. I"m about ready to call it quits and see if he wants to rent mine too!! Believe me, this is not dark Illinois or prairie soil.
 
What would be your best guess to these moves. Are the tenants really making money when they pay that kind of rent? Is this just about driving out competition so in a few years they can rent it much cheaper because no one will be around to drive rental rates up?
 
Exactly what I was thinking. I do not see how this could be sustainable for more than a couple of years. Around here gov't payments do not drive rental rates for the most part but you do need a good base as a landlord to get much of anything. I was hoping somebody that farms in that area could address that and general profitability. Fertilizer here in the Northeast is generally the highest in the country and definitely affects what you can bid on rent versus the Mid-West.
 
Thanks fellas for your answers, that gives me enough of a ball park idea for my needs, family has bout 30ac so.of Indy that I might have deal with sooner than Id like. Im no farmer and bout too old to learn new tricks....OCG
 
People say it's because they have hogs close by and they need to feed them and it's cheaper that way. But, I thought raising hogs was a losing proposition currently? I'm puzzled.
 
Dave, I am not belittling the important need that the extention service has to do, but around here it has become a self serving agency of gardeners and mettlers. Because of government budgets cuts all of the good people have either retired or taken jobs in the private sector where they charge big bucks for services that are much more valuable than the extention service charges for them. It's a vicious circle, but the value and volume of useful information available from the extention service is severely limited.
 
The value of info from the extension service changes from county to county. I trust first hand knowlege from my county agent much more than I do publications from UK. Each county would be differnt, here I can get better general info there than I can can from government sources.

Extension service value also changes a good bit from state to state.

Dave
 
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