Northwest Iowa — Cash rent prices for northwest Iowa farmland is down an average of $11 an acre from 2015 to 2016, according to a report released by Iowa State University Extension and Outreach.
The northwest Iowa District 1, which is comprised of Lyon, Osceola, Dickinson, Emmet, Sioux, O’Brien, Clay, Palo Alto, Plymouth, Cherokee, Buena Vista and Pocahontas counties saw the average cost of cash rent on an acre of farmland drop from $259 in 2015 to $248 this year. The highest cash rent paid in this area within the last 5 years was in 2013, when farmland commanded cash rent averages of $283 an acre.
The highest cash rent prices this year are in the northeast corner of the state, where the average cash rent per acre is $250, edging out northwest Iowa by just $2 an acre. The lowest cash rent prices are in south central Iowa, where farmland is commanding just $183 an acre of cash rent.
The cash rental rate information in the ISU report comes from a survey of farmers, landowners, agricultural lenders, and professional farm managers.
To view the complete report, click here.
