Statewide Iowa — A new report finds many Iowa farmers are having to shell out more money to cover a significant increase in land rent rates this year.
Iowa State University Extension ag economist Wendong Zhang says it’s the first big boost in rental rates in eight years.
Better crop and land prices, along with lower interest rates and government payments were all factors, he says, in generating the land rent rate increase. Zhang says the rates vary based on the region.
The 2021 cash rent survey is based on more than 13-hundred responses from Iowa producers and landowners.