Iowa Land Values Show Stability in Turbulent Year

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This year’s Iowa Land Value Survey found that the average statewide value of an acre of farmland is $7,559, an increase of 1.7%, or $127, since 2019. The $7,559 per acre estimate, and 1.7% increase in value, represents a statewide average of low, medium and high-quality farmland.
 
Statewide, Iowa’s high-quality farmland saw a decline in value of 0.1%. However, Zhang said that it’s important to note that number is more indicative of a flat market, rather than a decline, and that several factors have led to a recent rebound in the market.
 
“The rebound in recent months is due to strong government payments, interest rate cuts, limited land supply and recent commodity price rallies,” said Zhang, who is responsible for leading the annual survey.
 
However, he noted that when compared to high-quality land, it doesn’t take a substantial change in the dollar value of low-quality land to constitute a large percent increase in values.
 

*Land values by county

 

*Land values by district

 
 

*Land values by quality

 
 

*Factors influencing the land market

 
 
The Iowa State Land Value Survey is based on reports by agricultural professionals knowledgeable of land market conditions, such as appraisers, farm managers, agricultural lenders, and actual land sales, and is intended to provide information on general land value trends, geographical land price relationships, and factors influencing the Iowa land market.
The 2020 survey is based on 707 usable responses from 484 agricultural professionals. Sixty-seven percent of the 484 respondents answered the survey online.
 
CARD offers a web portal at https://www.card.iastate.edu/farmland/ that includes visualization tools, such as charts and interactive county maps, allowing users to examine land value trends over time at the county, district, and state level.
 
For over 60 years, the Center for Agricultural and Rural Development at Iowa State University has conducted innovative public policy and economic research on local, regional, and global agricultural issues, combining academic excellence with engagement and anticipatory thinking to inform and benefit society. 
 
Full details here
 

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