Lake County Farmland Info
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There are 34 farming operations in Lake County, Minnesota. According to the USDA Census of Agriculture, Lake County, Minnesota had 164 acres of land in farms. The average size of a farm in Lake County was 4 acres in 2024.
Average Lake County Farmland Value
The average farmland value per acre in Lake County, Minnesota in Q4 2024 was $2,533. There are multiple factors that contribute to the volatility of farmland values. A partial list of factors include:
- Soil quality. The quality of a land’s soil is fundamental to its value, affecting everything from productivity to crop yield to sustainability.
- Commodity price fluctuations. Shifts in the prices of crops or livestock can add to or detract from a land’s value.
- Interest rates. High interest rates can reduce demand for land driving prices down, while lower interest rates can boost demand for land and drive prices up.
- Environmental factors. Climate driven events such as drought, flooding, and extreme weather can dramatically impact farm productivity and ultimately, a land’s value.
- Farmland income. Higher farmland income can lead to higher demand for land, driving prices up in the market.
- Local Factors. Neighbors can have a dramatic impact on farmland value
- Alternative Investment Opportunities. The appeal of farmland to non-farming investors fluctuates with global trends.
Lake County Farmland Value History
Changes in Lake County by year breakdown as follows:
| Year | Avg Market Value/Acre |
| 2024 | $2,367 /acre |
| 2023 | $2,281 /acre |
| 2022 | $2,389 /acre |
| 2021 | $1,961 /acre |
| 2020 | $1,471 /acre |