Pennington County Farmland Info
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There are 650 farming operations in Pennington County, South Dakota. According to the USDA Census of Agriculture, Pennington County, South Dakota had 1,166,970 acres of land in farms. The average size of a farm in Pennington County was 1,795 acres in 2024.
Average Pennington County Farmland Value
The average farmland value per acre in Pennington County, South Dakota in Q4 2024 was $7,739. 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.
Pennington County Farmland Value History
Changes in Pennington County by year breakdown as follows:
| Year | Avg Market Value/Acre |
| 2024 | $6,993 /acre |
| 2023 | $8,470 /acre |
| 2022 | $7,098 /acre |
| 2021 | $5,434 /acre |
| 2020 | $4,448 /acre |