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Explore New Mexico agriculture and learn what makes it unique.
Agriculture has been a staple of New Mexico’s economy and way of life from the beginning. Despite its arid climate, with the help of crop irrigation, New Mexico produces a diverse mix of commodities and has an agriculture industry valued at more than $2.5 billion. The top commodities in New Mexico are: Milk, Cattle, Fruits, Tree nuts, Berries, Grains, Oilseeds, Dry Beans and Dry Peas. More than 50% of the state’s total land area is farmland covering 40.6 million acres and there are a total of 25,044 farms with an average size of 1,624 acres, some of the largest in the country.
$76/acre
5.4%
4.8%
$80
Current Rental Rate Per Acre
Cash Rent per Acre
Source: USDA
4.8%
Average Annual Cap Rate
Implied Annual Capitalization Rate
Source: USDA
| Year | Per Acre | Change |
|---|---|---|
| 2023 | $80 | 6.7% |
| 2022 | $75 | 1.4% |
| 2021 | $74 | 2.1% |
| 2020 | $73 | -9.9% |
| 2019 | $81 | -3.0% |
| 2017 | $83 | -15.7% |
| 2016 | $99 | 5.9% |
| 2014 | $93 | -11.4% |
| 2013 | $105 | 41.9% |
| 2012 | $74 | 10.4% |
| 2011 | $67 | 34.0% |
| 2010 | $50 | 23.5% |
| 2009 | $41 | -15.6% |
