Iowa Farmland Values Reach and $8,716 Average!

Press Release – December 11, 2013

Iowa farmland values went up by an estimated 5.1 percent from 2012 to a $8,716 per acre average in 2013, according to the results of the Iowa Land Value Survey conducted in November.  Land values increased for the fourth year in a row.

“The 2013 land value survey shows a market in flux, with strong and weak price sales occurring at the same time,” said Michael Duffy, Iowa State economics professor and extension farm management economist who conducts the survey.  “The key question is if this shows the market is going to settle, if it is just pausing before another takeoff in values, or if the market has peaked and due for a correction.”

The Iowa land value survey was established in 1941 and is sponsored by the Iowa agriculture and by the Iowa State University Home Economics Experiment Station.  Only the state average and the district average are based directly on the Iowa State survey data. The county estimates are derived using a procedure that combines survey results with data from the U.S. Census of Agriculture.

The survey is based on reports by licensed real estate brokers and selected individuals considered knowledgeable of land market conditions. The 2013 survey is based on 476 usable responses providing 674 county land value estimates. The survey is intended to provide information on general land value trends, geographical land price relationships and factors influencing the Iowa land market. It is not intended to provide an estimate for any particular piece of property.

iowa farmland map

 

**All information & image is from the Iowa State University Extension and Outreach for informational purposes only.