South Dakota’s farm real estate value increased from last year, according to the latest numbers from the United States Department of Agriculture’s National Agricultural Statistics Service.

USDA data shows South Dakota’s 6.8% increase from 2024 is the third highest increase year over year in the nation, next to Michigan and Tennessee.

The increase is more than 2% higher than the other states in the Northern Plain region — North Dakota, Nebraska and Kansas.

The American Farm Bureau Federation says the increases can reflect many regional drivers like specialty crop production, in-migration and development interest.

All cropland in the state saw a 6% annual increase in value per acre, while pastureland value increased at 5.5%.

However, the state’s $2,970 per acre is still among the 10 lowest states in the country. That’s up nearly $1,000 ($910) from the same figure 2021.