Iowa’s farmland values saw an overall decrease this year.
According to the Iowa State University Farmland Value Survey, Iowa’s overall average farmland value is $7,264, which is a 0.8-percent decrease compared to 2017. Locally, Dallas County saw the largest drop of $191 per acre to $7,573. Greene County’s farmland value decreased by $172 per acre to $7,696. Guthrie County had the smallest decline of $114 per acre to $6,748. Seventy of the 99 counties in Iowa reported a decline in farmland values for 2018.
The factors from the survey respondents that led to the modest decline in overall farmland values were lower commodity prices, higher interest rates, and in some respects the trade disruptions. However, respondents also pointed out limited land supply, strong yields, and low interest rates as positive factors in the land market.
This is the fourth time in the last five years that Iowa’s farmland values had an overall decrease in the average price per acre. To see the full report, click the link below.