What is the going rental rate for well tilled farm land. Been used for corn...

Asked September 26, 2016, 4:41 PM EDT

What is the going rental rate for well tilled farm land. Been used for corn and alternately soybeans for many years.

Erie County Ohio cash rent

1 Response

There is no clear cut answer as there are so many variables that go into establishing a value, including yield history, soil type, soil fertility levels, drainage, size and shape of field, accessibility, and of course, a landowner and farmer who simply agree on price. Below is a link to the 2015-16 Western Ohio crop land values publication, which is some very helpful information that will show you a breakdown by county of poor, average, and top quality ground and prices paid in 2015. The article below that on the same web page gives a good narrative also.
Feel free to call or email me directly with questions after you review this and I will certainly help you come up with a plan for figuring an fair value.
thanks,
Al
http://aede.osu.edu/research/osu-farm-management/publications