Ames, Iowa — The recently-released Iowa State Extension land value survey gives some insight into what happens when farmland is sold in the state. Iowa State University extension economist Wendong Zhang oversees the survey.
Zhang says the 2015 information keeps with the trends seen through the years in land sales. He says it continues to be tough to try and get land to start a new farm operation.
Part of the problem is the cost of land. The average value of farm ground in the state fell by 310 dollars in 2015, but still averages seven-thousand-633 dollars an acre.
I-S-U extension has put together a new website that combines the findings of the U-S-D-A, Federal Reserve Bank of Chicago, and Realtors Land Institute in determining the land values.
You can see the new tool at www.card.iastate.edu/farmland.