Each year, the USDA National Agricultural Statistics Service conducts a nationwide survey to gather data and compile a report showing average cash rental rates across the United States. These results are based upon the survey responses from landowners and producers around the country. Please note that all reported cash rent amounts are listed in a per acre/per year format.
Tp see a chart listing the cash rents by county for Texas, click here. Here’s how things broke down in the Lone Star State.
The statewide average for pastureland was $8.50/acre, which is up from $7.70 last year. The highest pastureland rental rates were reported in Falls County at $24.50/acre, Red River County at $23.00/acre, and Matagorda and Lamar Counties each at $22.50/acre. Conversely, the lowest reported pastureland lease averages were in West Texas with Brewster County at $2.20, Val Verde County at $2.60, and Irion County at $2.90.
The Texas average lease rate for irrigated cropland was $113/acre, up $1 from 2022. Just like last year, for 2023, the highest average reported lease rates were in Hartley County ($199/acre) and Sherman County ($210/acre). The lowest reported rates for irrigated cropland came from Knox County ($52.50/acre) and Armstrong County ($60.50/acre).
Statewide non-irrigated cropland lease rates averaged $31.00/acre, which remained the same as last year. The highest reported rental for non-irrigated cropland was found in Dawson County at $54.50, Terry County at $51, and Lynn County at $50/acre. On the other hand, the lowest rates came from Sterling County at $5/acre and Lampasas County at $6.60/acre.
Dr. Greg Kaase pulled together the following table showing the average cash lease rates for 2022 and 2023 for each of Texas’ regions.
For more information on agricultural leases, we’ve got a number of resources available. If you’d like to see another report that includes average lease rates, click here to see a blog post about the Texas Rural Land Value Trends Report. To read about agricultural leases, check out Chapter 11 of the Owning Your Piece of Texas Handbook or our Ranchers Agricultural Leasing Handbook. We also have podcast episodes specifically discussing grazing, farm, and hunting leases. Lastly, we’ve got a course specifically geared to grazing and hunting leases that is available live (2024 dates to be announced in December) or online (available anytime, on demand).