The farming industry is a vital part of Maryland's economy, providing numerous economic benefits to the state and supporting numerous related industries. However, the cost of farming in Maryland can be high, and farmers face numerous challenges in their day-to-day operations.
According to the USDA, in 2022 the estimated cost of cropland in Maryland was around $8750 per acre. This cost includes the purchase price of the land, as well as the cost of any improvements and necessary infrastructure, such as drainage systems and irrigation equipment.
In addition to the cost of land, farmers must also consider the cost of cash rent. The cash rent for crop land in Maryland can vary depending on the location and type of land. For example, the USDA estimates that in 2022, the maximum cash rent for irrigated crop land in Caroline County was around $239 per acre. Meanwhile, the cash rent for non-irrigated crop land in Kent County and Queen Annes County was estimated to be around $185-$165 per acre.
Despite these costs, Maryland's farmers have seen a steady increase in cash rent over the past decade. In 2013, the maximum cash rent for crop land in Maryland was reported to be around $160 per acre. Today, that amount has increased by almost $80 per acre.
The increase in cash rent is due to a number of factors, including the increasing demand for food and the growing global population, as well as the increasing costs of inputs, such as seeds, fertilizer, and fuel. As a result, farmers must be creative and resourceful in order to stay profitable and maintain their operations.