The average value of an acre of farmland in Iowa declined in 2009 for the first time in a decade, according to the annual Iowa Land Value Survey conducted by ISU Extension. Mike Duffy, ISU Extension farm economist who conducts the survey, said the statewide average as of Nov. 1 was $4,371 an acre, down 2.2 percent or $97 from the 2008 figure of $4,468.
While land values on average declined slightly in 2009, the survey reported that 14 counties showed increases. The counties with increases included several in east central Iowa where the 2008 flooding held down the gains shown in other parts of the state last year.
Additional information on the 2009 survey and an archived version of Duffy’s news conference announcing the results are available online.