Thank you to everyone who participated in this year’s land rent survey. According to our survey results, 2019 land rental rates in Fillmore County averaged between $189.92-$197.61/acre. Survey responses for 2019 land rent ranged from $40.00-$300.00/acre. The predicted average for 2020 land rental rates is between $189.26-$197.03/acre. These values are based on 84 returned surveys. Average pasture rental rates for the Houston and Fillmore County area was $40.75/acre in 2019 and predicted to be $38.77/acre in 2020.
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 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 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.
For those interested in learning more about current land rent trends I would highly encourage you to attend one of the Land Rent Workshops being held by the University of Minnesota Extension. Meetings will be held locally at St. Charles City Hall (830 Whitewater Ave) at 9:30 a.m. on December 11 and at the Mabel Community Center (201 Main Street South) at 1:30 p.m. on December 11.
These free meetings are designed to help both landlord and tenant negotiate the largest input cost the farmer has – land rent. Topics covered at the meetings will include local historic and projected farmland rental rate trends and current farmland values and sales. Attendees will receive several informative worksheets and factsheets that will help to determine what a fair 2020 farmland rental rate is.
If you have any questions about these programs, please contact Mike Cruse, Extension Educator in Houston and Fillmore Counties (507) 725-5807/(507) 765-3896), or Jake Overgaard (507) 457-6440), Winona County Extension Educator.