Iowa Farmland Cash Rental Rates 2023

Average Farmland Cash Rent Prices In Iowa By County And Quality

Iowa Farmland cash rental rates showed an increase in this year’s Iowa Farmland Cash Rental Survey by Iowa State University. The survey was responded by farm operators, landowners, farm managers, realtors, auctioneers, agricultural lenders and other farm professionals. Iowa’s cash rent prices have been increasing steadily since 2018, and is currently at $279/acre for the state average.  Crop reporting districts 1 and 3 in northwest and northeast Iowa were the only 2 of 9 districts to report $300+ farmland rents for 2023.  District 9 reported the smallest difference only increasing $12 from 2022 prices.  The northern districts of Iowa was responsible for most of the gains in farmland rents.  District 1 in Northwest Iowa gained $32 per acre coming in at $302 this year while district 2 reported average farmland cash rents that were $24 above the 2022 level.  We saw a $29 increase in district 3, $22 gain in district 4, $21 in district 5, $18 in district 6, $22 gain in district 7, and $24 increase for district 8. View the graphs below to see prices per county in Iowa and the difference in low, medium, and high quality land cash rent average prices. Curious what you should be charging for cash rent? Learn more about how our cash rent auctions work here. 

Average Farmland Cash Rental Rates per County in Iowa

On a county by county basis farmland rents were up from 2022. Delaware County topped the chart this year with an average farmland lease rate of $339 per acre.  Monroe and Lucas Counties tied for the lowest farmland lease rates at $187 per acre in 2023.  Here are the numbers breaking down the farmland lease rates by county, quality of farmland, the district each county is located in, each district’s average farmland cash rent price, and cash rent per CSR2 rating.

What is a Fair Price to Charge Farm Tenant Cash Rent in Iowa?

Should you charge the county average price? How do you know if your farm is low, medium or high quality farmland? Prime Iowa farmland that’s flat, black, tiled, 80+ CSR2, and has good access would produce the higher rental rates. If your farm lacks certain qualities you may likely need to charge a discounted rate with your farmer. The negotiation is up to you and take what you know from this survey but we have seen prices almost doubled compared to the survey’s results with cash rent auction prices. We often get calls about what to charge for farmland rent and if current lease amount is too low or too high. We are always available to visit with you if you have questions about renting a farm. Give us a call or send us an email today! 

If you are considering selling a farm and don’t know what to do contact us at DreamDirt.  We provide a free farmland market analysis and consultation that can help you understand the quality and value of your farm.