Virginia farmland values continue to climb, reflecting national trend (copy)
Virginia farmland values continued their climb in 2026, mirroring a national trend that has pushed agricultural land prices to record highs even as the pace of growth has slowed.
According to the U.S. Department of Agriculture’s 2026 Land Values Summary, Virginia farm real estate averaged $6,300 per acre this year, up 3.3% from $6,100 in 2025. Cropland values rose 3.7% to $6,400 per acre, while pasture averaged $5,430 per acre, up 2.5%.
Those values place Virginia above national averages for all three categories. USDA reported U.S. farm real estate at $4,500 per acre, cropland at $6,020 and pasture at $2,000 in 2026.
Virginia also topped the Appalachian regional averages of $5,820 for farm real estate, $6,190 for cropland and $4,880 for pasture. The total value of Virginia’s farmland and buildings reached $43.92 billion in 2025, up 2.8%.
American Farm Bureau Federation economist Daniel Munch said the figures show farmland has remained a resilient asset despite tighter margins across portions of the farm economy.
“Higher values strengthen farm balance sheets and provide landowners with additional equity and collateral, but they also raise the cost of buying, renting and expanding an operation,” Munch said. “Farmland prices increasingly reflect more than agricultural earnings alone.”
Development, energy projects, outside investment and generational ownership changes can intensify competition for a limited land base, leaving land technically agricultural but less available or affordable for farmers who want to use it, said Tony Banks, senior assistant director of commodity/marketing for Virginia Farm Bureau Federation.
“Virginia farmers are competing for a limited land base, and agriculture isn’t always the only bidder,” he continued. “Rising land values can be good news for farmers who already own property, but they also raise the financial hurdle for the next farmer trying to rent or buy land or for an established operation that needs room to grow.”
Nationally, USDA reported average farm real estate values increased 3.4% to $4,500 per acre in 2026, marking the sixth straight annual increase. Cropland values rose 3.3% to $6,020 per acre, while pasture increased 4.2% to $2,000 per acre. Since 2020, average farm real estate values have climbed nearly 44%, cropland values have risen 48% and pasture values are up nearly 43%.
Cash rents have offered little relief for producers. Munch wrote that average U.S. cropland rent slipped by just $1 to $160 per acre in 2026 and remains 15% above its 2020 level. That creates added pressure for tenants and beginning farmers, who face elevated costs without benefiting from the equity gains landowners receive.
For Virginia farmers, Banks said, the latest report underscores the value of land as a farm asset while highlighting the increasing challenge of keeping working farmland accessible for future generations.
