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1999 Land Rental Guide for the Shenandoah Valley
Farm Business Management Update, April 1999
By Jack Dunford and Bill Whittle of the Department of Agricultural and Applied Economics, Virginia Tech
During late fall 1998, Virginia Cooperative Extension's Northwest District Farm Business Management Staff in cooperation with Extension Agents, Agriculture and Natural Resources in 10 Shenandoah Valley counties surveyed farmers on land rental values. Information from past surveys has been widely used by Extension Agents, landowners, tenants, agricultural lenders, and others. This information is a starting point for determining the fair market rental value for land in a county.
The tables summarize the results of the 1998 survey. Averages are reported by county and for the entire Valley region. All averages are weighted averages, meaning that larger tracts of land rented at a given rate have more influence on the overall average than a small parcel of land. Rental rates are reported for the following categories:
Wide variations are seen in the rental rates by county and within a county. For instance, the rental rate for pastureland from one county to another ranged from $3.85 to $87.50 per acre. Within a county, the rental rate shows the same variability with a range from $4.63 to $50.00 per acre. The low-high range provides an excellent idea of the variability in rental rates that occur in a locality, and the number of respondents provides an idea of the accuracy of the data.
Though not reported in the guide, rental rates often involve more than just cash payment. Non-cash payment information was not reported because of the vast range of possibilities. Non-cash items include agreements on fence repair, use of minor facilities, sharing fertilizer and seeding expenses, barter, and exchange of properties, etc. In some instances, land is rented for what appears to be an abnormally low price. Often, intent behind the rental agreement is that the land remain in Land-Use taxation or that the tenant improves farmland that has become rundown by neglect or over use or both.
For more detailed information on land leases contact your Farm Business Management Agent or the Extension Agent located in your county.
1999 Land Rental Guide for the Shenandoah Valley (Weighted Average)
| County | Pasture | |||
|---|---|---|---|---|
| # | Average Per Acre | Low | High | |
| Augusta* | ||||
| Bath | 3 | $16.20 | $8.22 | $17.65 |
| Highland | 11 | $8.94 | $7.00 | $12.00 |
| Rockbridge | 15 | $13.01 | $10.00 | $28.00 |
| Rockingham | 52 | $33.81 | $9.38 | $87.50 |
| Clarke | 6 | $23.78 | $4.63 | $50.00 |
| Frederick | 9 | $11.89 | $5.00 | $16.00 |
| Page | 10 | $15.34 | $3.85 | $37.00 |
| Shenandoah | 14 | $13.85 | $7.69 | $35.71 |
| Warren | 2 | $10.55 | $10.00 | $11.25 |
| Total | Average | Low | High | |
| Valley Average | 122 | $18.87 | $3.85 | $87.50 |
| County | Good Crop Land | |||
|---|---|---|---|---|
| # | Average Per Acre | Low | High | |
| Augusta* | ||||
| Bath | 1 | $36.67 | ||
| Highland | 0 | |||
| Rockbridge | 6 | $31.38 | $25.00 | $40.00 |
| Rockingham | 45 | $48.30 | $20.00 | $125.00 |
| Clarke | 5 | $29.22 | $12.50 | $45.00 |
| Frederick | 8 | $23.89 | $15.00 | $30.00 |
| Page | 7 | $29.41 | $20.00 | $40.00 |
| Shenandoah | 12 | $26.91 | $20.00 | $50.00 |
| Warren | 0 | |||
| Total | Average | Low | High | |
| Valley Average | 84 | $36.57 | $12.50 | $125.00 |
| County | Average Crop Land | |||
|---|---|---|---|---|
| # | Average Per Acre | Low | High | |
| Augusta* | ||||
| Bath | 1 | $21.67 | ||
| Highland | 0 | |||
| Rockbridge | 7 | $28.88 | $20.00 | $41.00 |
| Rockingham | 20 | $42.23 | $15.00 | $65.00 |
| Clarke | 3 | $42.50 | $20.00 | $50.00 |
| Frederick | 15 | $17.14 | $10.00 | $25.00 |
| Page | 11 | $32.91 | $10.00 | $40.00 |
| Shenandoah | 15 | $23.79 | $12.00 | $50.00 |
| Warren | 0 | |||
| Total | Average | Low | High | |
| Valley Average | 72 | $32.53 | $10.00 | $65.00 |
| County | Whole Farm | |||
|---|---|---|---|---|
| # | Average Per Acre | Low | High | |
| Augusta* | ||||
| Bath | 1 | $22.28 | ||
| Highland | 6$25.23 | $9.41 | $42.86 | |
| Rockbridge | 11 | $16.86 | $5.14 | $54.42 |
| Rockingham | 41 | $77.51 | $6.00 | $412.50 |
| Clarke | 6 | $22.94 | $17.14 | $36.00 |
| Frederick | 5 | $13.59 | $10.00 | $15.00 |
| Page | 3 | $35.77 | $20.00 | $50.00 |
| Shenandoah | 17 | $39.27 | $5.00$211.76 | |
| Warren | 0 | |||
| Total | Average | Low | High | |
| Valley Average | 90 | $44.98 | $5.00 | $412.50 |
| County | Orchard | |||
|---|---|---|---|---|
| # | Average Per Bushel | Low | High | |
| Augusta* | ||||
| Bath | 0 | |||
| Highland | 0 | |||
| Rockbridge | 0 | |||
| Rockingham | 0 | |||
| Clarke | 1 | $0.30 | ||
| Frederick | 3 | $0.32 | $0.30 | $0.32 |
| Page | 0 | |||
| Shenandoah | 2 | $0.34 | $0.30 | $0.35 |
| Warren | 0 | |||
| Total | Average | Low | High | |
| Valley Average | 6 | $0.33 | $0.30 | $0.35
|
| County | Pasture Per Head | ||||
|---|---|---|---|---|---|
| # | Average | Low | High | ||
| Highland (Stocker) | 4 | $30.00 | $30.00 | $30.00 | Per Head Per Season |
| Highland (Cow/Calf) | 1 | $8.50 | Per Head Per Month | ||
| Rockingham | 6 | $5.92 | $4.00 | $7.00 | Per Head Per Month |
| Shenandoah | 5 | $5.80 | $5.00 | $7.00 | Per Head Per Month |
Contact the authors at dunford@vt.edu and wwhittle@vt.edu .
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