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Agrimart: Saskatchewan farmland rents remained stable last year

Farmland rents in Saskatchewan were relatively stable last year, according to the Farm Credit Canada annual survey of rents.
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Farmland rents in Saskatchewan were relatively stable last year, according to the Farm Credit Canada annual survey of rents.

As a percentage of land value, rents in Saskatchewan ran at three per cent, a reduction from 3.3 per cent in 2020. The reduction factored in the increased price of land.      

Minimum rents in Saskatchewan for poorer quality land averaged 1.5 per cent of value, down by .1 per cent.

Maximum rent declined to five per cent from 5.85 per cent the year before.

Since land prices in the southwest, which includes Moose Jaw, only gained .1 per cent value the rent ratio stayed the same for this region.

Across Canada average rent paid was 2.5 per cent of land value, down from 2.7 per cent in 2020.

In Alberta rents of 2.2 per cent were the same but the maximum increased to 4.15 per cent from 3.85 per cent.

Manitoba rates at 2.5 per cent dropped marginally.

Average Ontario rates, impacted by sharper land price increases, fell to 1.45 per cent, a decline of .25 per cent. Similarly, Quebec rates dropped .2 per cent to 1.6 per cent. 

New Brunswick at 2.5 per cent stayed the same while Nova Scotia rates were up .1 per cent.

P.E.I. rates fell .3 per cent to 5.2 per cent. Maximum rates of 8.7 per cent were up marginally.

Ron Walter can be reached at ronjoy@sasktel.net