FAQs
The average farm real estate value for Illinois in 2023 was $9,300 per acre. This includes the value of all land and buildings. The figure was 4.5 percent higher than the 2022 average of $8,900 per acre. This is the third highest increase since 2015.
Who owns the most farmland in the state of Illinois? ›
Prepare for a surprise, because it's not who you might expect. Topping the charts with approximately 38,000 acres is none other than The Church of Jesus Christ of Latter-day Saints, also known as the Mormon Church. Yup, you read that right – a religious organization reigns supreme as the biggest landowner in the state.
How much is 1 acre in Illinois? ›
The current average per acre price for land in Illinois according to these December sales is $13,349/acre. The highest selling farm in Illinois in the month of December 2023 sold on December 8th in Champaign County for $3,314,580 or $14,226 per acre for 233 acres, with a PI of 143.1.
How many acres is the average farm in Illinois? ›
There were 71,123 farms and ranches in Illinois during 2022, down 2% from five years ago. The average farm size was 370 acres, down 2 acres from the previous Census of Agriculture in 2017. There were more than 33,000 farms that grew soybeans in Illinois during 2022.
How much does farmland rent for per acre in Illinois? ›
The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2023 at $259 per acre, up by $16 per acre from the 2022 level of $243 per acre (see Figure 1).
How much is an acre of land in Illinois in 2024? ›
The current average per acre price for land in Illinois according to these January sales is $12,097/acre. The highest selling farm in Illinois in the month of Januray 2024 sold on January 30th in Champaign County for $2,775,986 or $17,040 per acre for 162.9 acres, with a PI of 139.6.
How many acres of land does Bill Gates own in Illinois? ›
Gates. There is an interesting map of Mr. Gates' land holdings by state. He owns 17,940 acres in Illinois; 9,136 acres in Indiana; 14,828 acres in Florida; 69,071 acres in Louisiana; 25,750 acres in Arizona; 16,097 acres in Washington State; and one acre in New Mexico.
What state does Bill Gates own farmland in? ›
assets owned by the Canada Pension Plan Investment Board that was acquired in 2017 and the 2018 acquisition of the 100 Circles acreage in the Horse Heaven Hills of Eastern Washington. Those two purchases alone total an investment of more than $690 million in farmland assets.
What person owns the most acres? ›
Largest Landowners in the United States in 2024
| Largest Landowner Name | Approximate Acreage Owned |
|---|
| The Emmerson Family | 2,411,000 acres |
| John Malone | 2,200,000 acres |
| Ted Turner | 2,000,000+ acres |
| Stan Kroenke | 1,700,000+ acres |
4 more rowsJun 10, 2024
The Cheapest State to Buy Land
According to Wisevoter, Arizona is the cheapest state in the United States to buy land. As of 2023, Arizona's median price per acre is only $4,164.
Wyoming is currently the #1 cheapest state to buy land in 2024. The average price per acre for land in Wyoming right now is $3,435, which fell from a high of $5,903 per acre in 2023.
How much is an acre of land in Hawaii? ›
Residential acreages on Maui - $200,000 to $800,000+ Commercial acreage on Oahu - Around $4 million. Acre blocks suitable for residential or commercial builds on the Big Island - From $90,000 to $1 million+
What is the number one crop in Illinois? ›
Illinois is the #1 soybean producing state in the country. 15% of all U.S. soybeans are produced in Illinois. Illinois is the #2 corn producing state in the country. 13% of our country's supply of corn is grown on Illinois farms.
How many acres is considered a farmer? ›
Another question that frequently comes up in this discussion is “how big does my farm have to be to be considered a farm?” Since property taxes are handled at the local level rather than the federal level, the answer will vary from state to state. Generally speaking, there is no minimum acreage for farm tax exemption.
What is the average profit per acre of corn in Illinois? ›
For highly productive Illinois soil with an average yield of 72 bushels per acre and an average price of $12.80 per bushel, profits are estimated at $42. That's higher than 2023's $15 per acre forecast but lower than 2022's $162 per acre profit.
How much does farming cost per acre? ›
In May, USDA's Commodity Costs and Returns re-confirmed that input costs for all major crops were indeed at a record in 2022, ranging from $431 per acre for wheat, $621 per acre for soybeans, $876 per acre for cotton, $911 per acre for corn, and at or above $1,200 per acre for both rice and peanuts.
How much money does an acre of farmland produce? ›
Gross income per acre: Direct to consumer sales – (organically certified) - $20,000 - $22,000. Direct to consumer sales – (non-organically certified) - $16,000 - $18,000. Institutional sales – (food cooperatives, restaurants) - $12,000 - $14,000.
Does Illinois have good farmland? ›
Much of Illinois is comprised of fertile flat loess, left behind by glaciers and wind millions of years ago. About 89 percent of the state's cropland is considered prime farmland, ranking the state third nationally in total prime farmland acreage.
What is the average price per acre of farmland in the US? ›
The value of U.S. farmland averaged $4,080 per acre, an increase of 7.4 percent over 2022 values, or 3.9 percent when adjusted for inflation.
