Northwest Iowa — Farmland values continue to increase across the state of Iowa, with some of the most valuable land in the state located here in northwest Iowa. That’s according to the latest Land Trends and Values Survey conducted by the REALTORS® Land Institute – Iowa Chapter.
The estimates in the survey are for bare, unimproved farmland, with a sale price on a cash basis. The results of the survey show a statewide average increase of cropland values of 2.0% for the March 2017 to September 2017 period. Combining this increase with the 0.9% increase reported in March of this year, indicates a statewide average increase of 2.9% from September 1, 2016 to September 1, 2017. The survey shows the first full year statewide increase in land values since 2013, indicating some current stability.
The largest increase in farmland value shown in the survey is in east Central Iowa, where land values increased 3.6-percent in the last six months. The smallest was in south central Iowa, where land values declined 0.5-percent over the past six months, being the only area of the state to see a decline in farmland value.
Here in northwest Iowa, the average value of farmland increased 1.9-percent in the past six months, and is currently the highest valued farmland in the state at an average value of $10,962 per acre. South central Iowa has the lowest average farmland value at just $6,938 an acre, according to the survey.
The Iowa Chapter of REALTORS® Land Institutes farmland value survey has been conducted in March and September each year since 1978.