FARMLAND VALUES INCH HIGHER
REGIONAL -- After having fallen in each of the three previous years, the average value of an acre of farmland in Iowa saw an increase in 2017. The average statewide value of an acre of farmland is now estimated to be $7,326. This represents an increase of 2.0 percent, or $143 per acre, from the 2016 estimate.
Shelby County saw a slight increase in farmland values from $7,693 to $7,726 per acre, or less than one percent at 0.42 percent. All counties surrounding Shelby County also saw minimal value increases (see table).
Land values were determined by the 2017 Iowa State University Land Value Survey, which was conducted in November by the Center for Agricultural and Rural Development at Iowa State University and Iowa State University Extension and Outreach. Results from the survey are consistent with results by the Federal Reserve Bank of Chicago, the Realtors Land Institute, and the U.S. Department of Agriculture. Dr. Wendong Zhang, Assistant Professor of Economics at Iowa State University, led the annual survey.
The $7,326 per acre estimate, and 2.0 percent increase in value, represents a statewide average of low-, medium-, and high-quality farmland. The survey also reports values for each land quality type, crop reporting district (district hereafter), and all 99 counties individually.
Read this story and the entire paper for only $1 online
Search back issues, email stories, flip through pages and skim headlines just as you would with a newspaper in your hands.
Create an account and buy a paper anytime you want for only $1 per issue Or buy a year subscription for $39.95