2021 Prices/Acre for farmland in Canada hit new highs

Overall Price-per-Acre values for Canadian farmland in 2021 hit new highs, increasing across the country in 2021, but  showing important differences in regard to province, region and county.

The Historic FCC Farmland Values Report 1985-2021 provides in-depth information including prices per acre, starting from 1996 up to 2021.

The prices are listed by provincial (sub)territory: ex. for Ontario, prices for farmland are listed for 8 distinctive territories, including Central East Ontario, Central West Ontario, Eastern Ontario, Mid Western Ontario, Northern Ontario, South-East Ontario, South-West Ontario and Southern Ontario. The same applies to the other Canadian provinces, each of which is divided into several regions.

The highest price-per-acre ratio has been reported for British Columbia: the average price/acre is a stunning C$ 134,000 for the BC South Coast region and C$ 63,000 for the Vancouver Island area. Average prices/acre for farmland in Ontario, and specifically Ontario South-West, where FIAN manages a large number of farmland investments, are at C$ 23,500.

This report completes the basic 2021 FCC Report Farmland Values published by Farm Credit Canada (FCC) that provides the changes in farmland values by province. In comparison with 2020, farmland values increased on average 8.3% across Canada. The highest increase was reported for Ontario, where farmland values increased by 22.2% in comparison with 2020. British-Columbia followed with an increase of 18.1% over 2020 land values, and Prince-Edward-Island showed increases of 15.2%.

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Another source of information is the South-Western Ontario Land Values 2021 report. It compares the evolution of prices/acre in regard to individual counties (Bruce County, Elgin County, Essex County, Grey County, Huron County, Kent County, Lambton County, Mild Essex County, Oxford County, Perth County, Wellington County) in this region of Ontario.