Mixed Land Market Trends Across Upper Midwest

Minnesota farmland values hold steady while North Dakota sees more variation

Mar. 21, 2026 at 7:34pm

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New data from the American Society of Farm Managers and Rural Appraisers shows a mostly stable farmland market across the Upper Midwest, with Minnesota values holding firm overall. However, the trend is more mixed in North Dakota, with some regions gaining and others declining.

Why it matters

The farmland market is a key indicator of the overall agricultural economy in the region. Steady or rising land values suggest strong demand and profitability, while declines can signal challenges for farmers and the broader rural economy.

The details

Jared Oachs of Crown Appraisals in Fargo says strong demand for high-quality land and limited acres for sale are supporting the market in Minnesota. 'What we're seeing is a stable marketplace. The productive land with a good pedigree is still bringing strong results for people out there. Overall, what we're seeing is a stable piece of that balance sheet.' In contrast, North Dakota saw more variation, with the Red River Valley essentially flat, the Southwest up 11%, and the Northeast and Northwest down around 10% each.

  • The 2025 farmland data was analyzed for this report.

The players

Jared Oachs

An appraiser with Crown Appraisals in Fargo, North Dakota.

American Society of Farm Managers and Rural Appraisers

An organization that provides data and analysis on the farmland market across the United States.

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What they’re saying

“What we're seeing is a stable marketplace. The productive land with a good pedigree is still bringing strong results for people out there. Overall, what we're seeing is a stable piece of that balance sheet.”

— Jared Oachs, Appraiser

The takeaway

The mixed trends in farmland values across the Upper Midwest highlight the nuances of the regional agricultural economy, with factors like land quality, buyer demand, and local economic conditions all playing a role. Monitoring these market shifts can provide insights into the broader health and outlook for the farming sector.