Iowa Farm Income Appears Higher, but Farm Value Decline

The Iowa Farm Costs and Returns report compares income and cost data for 600 Iowa producers

September 23, 2019, 1:38 pm | Alejandro Plastina

AMES, Iowa – The “2018 Iowa Farm Costs and Returns” analysis is now available, and despite a slight increase in net farm income last year, farmers saw another year of tight margins and a decrease in total farm assets and net farm worth.
The average accrual net farm income (adjusted for inventory changes and accrued expenses) increased by 6% in 2018, to $58,832.
“It wasn’t a huge increase in income, but at least we didn’t see a decline,” said Alejandro Plastina, assistant professor and extension economist at Iowa State University. “However, the rate of return on assets remains very low, compared to historical averages.”
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