Illinois Farmland Rental Rates Stabilize Amid Improved Return Prospects
The average cash rent for Illinois farmland has declined for the second year in a row. According to the USDA, the average cash rent was $261 per acre in 2026, down from $264 in 2025 and $269 in 2024.
Average rents varied by county, with higher rents in central and northern Illinois and lower rents in southern Illinois. In fact, four counties - Christian, Macon, Moultrie, and Sangamon - had average cash rents exceeding $330 per acre, while six counties had averages below $150 per acre.
The outlook for 2027 suggests that while returns are improving due to higher corn and soybean prices, they remain below longer-term averages. Professional farm managers' expectations indicate slight declines in rental rates across all land quality classes for 2027, but these expectations were based on survey responses collected prior to the recent commodity price rally.
In light of the improved return prospects and recent price increases, further average rental rate declines in 2027 are now likely lower than they were earlier this summer. Additionally, large payments from the ARC/PLC programs will contribute to upward pressures on farmland rents.