Barry Ward, Ohio State’s leader in production business management and director of the income tax schools at Ohio State University, recently sent out an update to Extension offices about the county cash rent estimates for 2025. This data was released by USDA NASS this past Friday.
For Lorain County Farmers, the 2025 estimate average came out to $141 per acre. This is a 6.8% increase on the estimate from 2024. The 5-year average is $131 per acre.
While this information can provide a good starting point for conversations between landowners and their tenants, there are other considerations that can help you settle on an agreed rate for your ground.
Some of the other things to consider would be the cost of property taxes on the rented land, soil type, production history, land improvements (like tile vs no tile), expected crop prices, input costs, and anything else that the landowner might prioritize.
Ultimately, a fair cash rent will usually balance the local going rates with what the land can realistically produce; while ensuring the tenant can earn a margin and the owner gets competitive compensation.
There is also good information regarding farm leases on the OSU Law Library which can be located on the OSU Farm Office webpage, here: https://farmoffice.osu.edu/home