Average Farmland Prices in Wyoming (WY) | AcreTrader (2024)

FAQs

Average Farmland Prices in Wyoming (WY) | AcreTrader? ›

Over the last 20 years, farmland rental rates per acre in wyoming have risen from an average of $54 per acre in 2009 to $50 per acre in 2019. This represents an increase of -$3 over this time period with an average implied capitalization rate of 4.1%.

The 2021 Wyoming average farmland real estate value, a measurement of the value of all land and buildings on farms, was $790 per acre.

wyoming Farmland Prices

Over the last 20 years, the price of farmland per acre in wyoming has risen by an average of 3.6% per year to $1,540 per acre as of 2019. This represents an increase of $710 per acre of farmland over this time period. The values shown here only represent farmland appreciation.

The best area in Wyoming for cropland is in Goshen county, which is aptly named after the most fertile, desirable land in Egypt in the Biblical story of Joseph. The availability of water is the primary reason why Goshen county is so productive.

Farm Land. With approximately 30.2 million acres in agricultural production, Wyoming has eight times more land in agricultural production than the national average.

The 27 matching properties for sale in Wyoming have an average listing price of $63,733 and price per acre of $1,924. For more nearby real estate, explore land for sale in Wyoming.

Parts of Wyoming can have some very large ranches that seem relatively inexpensive compared to ranches in other areas and other states. This may be because the land is not as productive, is a long way from a major town, and may have limited water or other resources.

1. California

It is recognized as the agricultural powerhouse of the United States. California's crops account for around 73% of the state's agricultural revenue, with livestock commodities accounting for the remaining 27%, allowing it to surpass all other states in terms of farm income.

Wyoming ranks number one in the nation in average size of farms and ranches. The average farm ranch size is 2,726 acres. Some of the country's largest farms and ranches in Wyoming are only rivaled by the largest ranches in Texas. The Great Plains meet the Rocky Mountains in Wyoming.

What are the top 5 crops grown in Wyoming? ›

Fertile river bottoms produce outstanding crops of sugarbeets, dry edible beans, barley, and corn. Dryland winter wheat is grown, primarily in the East on the High Plains. Oats are also a common crop throughout Wyoming. Other more specialized commodities in the state include hogs, bison, and sunflowers.

Bar Cross Ranch is a working cattle ranch that comprises about 12,000 deeded acres in Cora, Wyo., about 60 miles south of Jackson Hole, said listing agent Jim Taylor of Hall and Hall.

1. To apply for a landowner tag, the landowner must own 160 contiguous acres in the draw area being applied for. If general tags for the species are available, landowner tags will not be issued. 2.

Figuring the tax bill

Wyoming is a fractional assessment state. This means that the taxable value is based on a portion of the full value. In Wyoming this fractional amount is 9.5% for agricultural property. To arrive at the assessed value multiply the total land value per acre times 9.5%.

Iowa has some of the most fertile soils in the world. this “black gold” is found in northeast Iowa's gently rolling terrain, molded by climate, water and plant life.

Wyoming's homestead exemption applies to real property, including your: house and the lot or lots upon which that house is located, or. your mobile home or house trailer.

So for both 1 acre and 5 acre plots, the cheapest states to buy land in 2023 are New Mexico, Arizona, Mississippi, followed by Colorado and California. Some great news for you here is that at Compass Land USA, we do a lot of work in Colorado, and Arizona.

Taxable value is the value used to calculate taxes due on your property. Residential property is assessed at 9.5% of market value.

The level of assessment in Wyoming for residential property is 9.5%. So instead of being taxed on the full 100% value of property, we are instead taxed on 9.5% of the value of the property. So, if the market value of residential property is $100,000, taxes are not assessed on the entire $100,000 value.

Is Montana or Wyoming cheaper? ›

Wyoming has the lowest average cost of living among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, Idaho, and Montana. It also ranks among the top 20 most affordable states in the nation, according to MERIC data collected in 2022.

Wyoming Property Tax Rates

Property tax rates in Wyoming are expressed as mills. One mill is equal to $1 of tax for every $1,000 in assessed value. So, for example, if your assessed value is $10,000 and your mill rate is 75 mills, your total annual tax bill would be $750.

The United States had 895.3 million acres of land in farms in 2021. Texas had the most land in farms in the United States in 2021 followed by Montana and Kansas.

The best states for farmland include Montana, Kansas, Oklahoma, South Dakota, North Dakota, Texas, Iowa, Kentucky, Wyoming, and California. Consider factors like profitability, cost of operation, infrastructure, and availability when selecting a location.

Mollisols are the best soils for farming because they contain large quantities of organic matter. Mollisols found in the Midwestern U.S. are the best for agriculture due to the grasslands that were present thousands of years ago.

Texas had the most farms in the United States in 2021 followed by Missouri and Iowa. Texas accounted for roughly 12% of the farms in the United States in 2021. Thirty nine (39) states had 12,000 or more farms in 2021.

Livestock is probably the most common way farmers make money from their land. And while animals have a few more expenses and a higher overhead, they usually bring in top dollar in terms of net income.

What US states produce the most food? (Ranking 1-50)What US states produce the most food? (Ranking 1-50) California ranks first in the U.S. for agricultural cash receipts followed by Iowa, Texas, Nebraska and Illinois.

The largest source of revenue for State general operations is sales and use tax.

Welcome to Q Creek Ranch

At 560,000 acres, Q Creek Ranch is the largest contiguous ranch in the Rocky Mountains.

Who owns the largest ranch in Wyoming? ›

The United States Government

The largest landowner in Wyoming is the federal government, owning around 30 million acres of land.

Wyoming's most valuable export grain crop is wheat; other important crops include oats, barley, and corn (maize). Wyoming is also a major producer of sugar beets, dry beans (including great northern and pinto beans), and potatoes.

Hay, barley, wheat and corn are the major crops grown in Wyoming.

Hogs, sheep and lambs, and to a lesser extent, dairy products (milk) and honey are also major livestock commodities of Wyoming. Among the states, Wyoming is a leading producer of sheep and wool. Wyoming also produces chicken eggs.

Wyoming has over 810,000 sheep and ranks second in the nation for wool production. Hay is considered the most important crop to the economy followed by sugar beets, barley, and wheat.

Less than a month after purchasing a beachfront Malibu home, Kanye West has listed one of his two Wyoming ranches, Daily Mail reports. The “All of the Lights” rapper and Yeezy designer is asking $11 million for the 3,800+ acre property that he purchased in 2019 his with now ex-wife, Kim Kardashian.

Private land is scarce here because more than 97 percent of the land in Teton County (the county in which Jackson Hole lies) is federally owned or managed by the state. Of the 3 percent remaining in private ownership, amounting to about 77,000 acres, the Jackson Hole Land Trust alone protects almost 25,000 acres.

The 4,000-acre property has panoramic views of the surrounding Rocky Mountains and is just 52 miles from Yellowstone National Park.

Can you shoot a deer on your own property in Wyoming? ›

Hunters must have permission from the landowner to cross or hunt on private land. The Department recommends licensees obtain the signature of the landowner, lessee, or agent of the landowner as evidence that permission to hunt has been granted. 8.

Permission of the landowner is required to hunt on private lands in Wyoming. By statute, the hunter's license must bear the signature of the landowner, lessee, or agent of the owner on whose private property he is hunting or the legitimate proof as evidence that permission to hunt has been granted.

Corner crossing is not yet explicitly legal in Wyoming; however, BHA led a successful effort to secure passage of state legislation (SF 56) that clarified that a hunter would need to set foot on private ground to be convicted of criminal trespass.

California, like every other state, offers property tax breaks for agricultural land. Specifically, farmers are able to take 20 to 75 percent off their property tax bill if they agree not to develop their land for ten years and do so with at least 100 acres.

You are in the business of farming if you culti- vate, operate, or manage a farm for profit, either as owner or tenant. A farm includes livestock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and or- chards and groves.

Farmers, like other taxpayers, are subject to a variety of taxes at all levels of government. At the Federal level, these include income taxes, social security and self-employment taxes, and estate taxes. At the state and local level, the most significant taxes are on property and income.

The most fertile soils on Earth are the so-called black soils or chernozems. These are found in some areas in North America, Central Europe, Eastern Europe and Russia. It took several millennia and a specific climate and steppe vegetation for them to form.

Dairy Farming: Dairy farming is one of the most profitable agricultural business ideas. Aside from milk, it also produces manure. There is a high demand for organic dairy products all year round such as milk, cheese, curd, cream and so much more.

Climate change, the spread of intensive agriculture, deforestation and industrial activity have accelerated the loss of soils in almost every country in the world.

How profitable is farming per acre? ›

Gross income per acre: Direct to consumer sales – (organically certified) - $20,000 - $22,000. Direct to consumer sales – (non-organically certified) - $16,000 - $18,000. Institutional sales – (food cooperatives, restaurants) - $12,000 - $14,000.

Even though 5 acres doesn't sound like a lot of land, there's plenty of space to create a successful farm. There are many ways to maximize the profits and make a living off farming 5 acres of land. The key is to find the right plot of land, plan carefully, and put in hard work.

Farmland can serve as a cornerstone of a balanced investment portfolio. Commodity prices, including the cost of food, tend to rise with inflation. This strong correlation allows agricultural investing to protect against inflation, especially compared to high-volatility assets.

Unfortunately, there are no states without a property tax. Property taxes remain a significant contributor to overall state income. Tax funds are used to operate and maintain essential government services like law enforcement, infrastructure, education, transportation, parks, water and sewer service improvements.

Dryland winter wheat is grown, primarily in the East on the High Plains. Oats are also a common crop throughout Wyoming. Other more specialized commodities in the state include hogs, bison, and sunflowers.