Lake Of The Woods County Farmland Info
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There are 186 farming operations in Lake Of The Woods County, Minnesota. According to the USDA Census of Agriculture, Lake Of The Woods County, Minnesota had 109,394 acres of land in farms. The average size of a farm in Lake Of The Woods County was 588 acres in 2024.
Average Lake Of The Woods County Farmland Value
The average farmland value per acre in Lake Of The Woods County, Minnesota in Q4 2024 was $2,609. 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 Of The Woods County Farmland Value History
Changes in Lake Of The Woods County by year breakdown as follows:
| Year | Avg Market Value/Acre |
| 2024 | $2,377 /acre |
| 2023 | $1,633 /acre |
| 2022 | $1,534 /acre |
| 2021 | $1,828 /acre |
| 2020 | $1,688 /acre |