Agricultural land values vary across States and regions depending on the inherent quality of the land for agricultural production, and on competing demands for other uses, such as development. As of January 2010, the Northeast farm production region had the highest average value of farm real estate, at $4,690 per acre, due in large part to the expected value of agricultural land for future nonagricultural uses. Rhode Island had the highest average value of any State, at $13,600 per acre. At the other extreme, farmland values in New Mexico, which contains large amounts of low-value rangeland, averaged $480 per acre. The average for the coterminous 48 States was $2,140.
source: usda