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The average acre of Iowa cropland has increased in value 0.1% for the period September 2019 to March, 2020, the Realtors Land Institute - Iowa Chapter reports in its March 2020 Land Trends and Values Survey, released March 25.
According to the survey of farmland realtors, average-quality cropland throughout the state is valued at $7,119 per acre in March – up from $7,111 per acre in September. Values reported by survey participants in September 2019 were up 0.8%. Thus, in the last year, the state’s cropland has increased 0.9%.
However, the statewide value of high-quality cropland decreased, from $9,482 to $9,448, according to the RLI.
The southeast district of Iowa saw the largest increase with 1.8%, while the state’s South Central District saw the largest decrease at 1.3%.
Survey participants cite several factors influencing farmland values. These include:
Negative factors include continued trade uncertainty and low commodity prices that strain net farm incomes.
Here are more details, according to RLI – Iowa Chapter:
District
High-Quality Cropland - March 2020
Medium-Quality Cropland - March, 2020
Low-Quality Cropland - March, 2020
% Change in Value in Last 6 Months
Central
$10,113
$7,219
$4,437
-0.3%
East Central
$10,181
$7,598
$4,984
-0.2%
North Central
$9,182
$7,529
$5,238
-0.1%
Northeast
$9,793
$7,470
$4,800
0.3%
Northwest
$11,519
$8,796
$5,680
-0.6%
South Central
$6,961
$4,788
$3,282
-1.3%
Southeast
$10,089
$6,941
$4,614
1.8%
Southwest
$7,826
$6,056
$4,139
-0.3%
West Central
$9,675
$7,607
$5,064
1.0%
State
$9,482
$7,111
$4,693
0.1%