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Our Ohio Weekly: Rural Ohio real estate values
Real estate experts discuss what they are seeing when it comes to farmland values across Ohio and the Corn Belt.
The average Ohio farm real estate value, including land and buildings, averaged $6,600 per acre last year, according to the National Ag Statistics Service. That’s a 3.9% increase from 2020. Ohio’s cropland value was $6,800, an increase of 5.3% from the previous year, and pasture values in the Buckeye State were up 2.1% from 2020 at $3,440 per acre. On this Our Ohio Weekly, find out what has caused this spike in land values and if the bubble will pop anytime soon.
00:00 – Randy Dickhut, senior vice president of real estate operations with Farmers National Company and Chip Carpenter, auctioneer/broker at United Country Real Estate & Auction Services discuss what they are seeing when it comes to farmland values across Ohio and the Corn Belt.
16:50 – Dickhut and Carpenter talk about how today’s land market compares to the 1980s and if the land value bubble will pop.
23:50 – On this episode of “To the Beat of Agriculture,” hear from Katelyn Hall, National Junior Miss Agriculture USA, about her involvement in ag and her plans for the remainder of her reign.
32:20 – Darla Munroe, a professor and chair of geography at Ohio State, gives details about a recent study that found five types of rural communities in Ohio.
42:20 – Munroe shares what concerns came out of Ohio State’s study on rural Ohio and find out about the upcoming ‘Hoppin’ Around Darke County’ events planned for young Farm Bureau members.
The plan we are on is great. It’s comparable to my previous job's plan, and we are a sole proprietor.
To grow a network and gain perspective and knowledge in the industry through personal and professional development has been invaluable. Every day I learn and grow.
The issue of property taxation remains as one of the biggest challenges our members face today. Ensuring agricultural property is valued for its agricultural potential and not development is critical to the continued success of Ohio agriculture.
Farm Bureau is what really got the word out. It’s been one of their goals to get this done.
I could not have done it without the resources I have found through Farm Bureau.
Because we are younger farmers just starting out, Farm Bureau has a lot of good opportunities and resources to help us grow in the future.
Through the Select Partner program, we became educated in farm insurance and weren't just selling policies. It became more and more clear why farmers need an advocate like Ohio Farm Bureau.
