Iowa Farmland Values UP 2% In 2017 – New ISU Survey

Dec 14, 2017 | Farmland Prices, Iowa Auctioneers, Iowa Farmland Prices, Iowa Land Auction Company

Jason Smith

Jason Smith

Auctioneer, Land Broker

Jason is an Auctioneer and Land Broker and the founder of DreamDirt, He is a lead farm real estate professional in the Midwest and has pioneered many modern methods of selling farmland. His experience in helping lead families to successful farmland transactions spans 2 decades.  

Email: jason@dreamdirt.com | Phone: (515) 537-6633

Every year in December we get one of the most significant reports on Iowa farmland values from Iowa State University.  After 3 straight years of decline, Iowa farmland values are up 2% in 2017 to $7326 per acre.  For those of us in the business of selling farmland, this isn’t a real surprise.  2017 has been a really good year to sell a good quality farm.  Farms of good quality or better have had stiff competition this year.

Iowa Farmland Prices

High-Quality Farmland was up 2.0% to $8933 an increase of $175 per acre.  Medium Quality Farmland was up 2.2% to $6,849 and Low-Quality Farmland was up 0.5% to $4,689 an increase of $24 from 2016.

Farmland sales in 2017 have definitely had a boost from low sales volume.  While it was a very busy year at DreamDirt many companies conducted far fewer auctions throughout the year than typical and sales volume statewide is 1/2 of what it was in 2012.  This low sales volume was not enough to satisfy demand around the state.  Iowa is a target for investors because many of our surrounding states have property tax rates which are much higher than Iowa and the quality of Iowa farmland and competitive rental market puts pressure on land sales that does not exist in surrounding states.

Reasonably low-interest rates have continued to play into farmland prices but we continue to see interest rates on the move which is a threat to farmland values.  At some point the market will begin to deduct value for interest payments and the seller will no longer benefit from the boost we currently see.  Those increased expenses will pull on land prices at some point with continued increases.

 

A few high points from the report include

• Land fell previous 3 years 8.9%, 3.9% and 5.9% First gain in 4 years.

•Lack of available land is driving this year’s increase in prices

• Stagnant farm income and increasing interest rates will put pressure on farmland prices in the future

• Only 4 counties reported lower land prices this year Fremont, Mills, Montgomery, and Page

• For the 5th year in a row, Scott County reported the highest land prices and Decatur reported the lowest land prices in Iowa.

• Dubuque County reported the largest dollar increase in value gaining $355 per acre

• Allamakee and Clayton Counties reported the largest percentage land value increase at 4.7%.

• Mills County had the highest decrease in value losing $25 per acre

• Of all 9 crop reporting districts in Iowa, only South Central Iowa reported a decrease in farmland values -1.6%

• The largest percentage increase in values by region was in East Central Iowa at 3.8% gain in farmland values

• The most positive factors influencing farmland prices was favorable interest rates, strong yields, and limited land supply.

Iowa Farmland Prices By Region

Region High Medium Low Average % Change
Northwest Iowa
Farmland
$10,829 $8,555 $6.216 $9,388 Up 1.6%
North Central Iowa
Farmland
$8,370 $7,218 $5,265 $7,802 Up 3.2%
Northeast Iowa
Farmland
$9,115 $7,236 $4,965 $7,543 Up 3.1%
West Central Iowa
Farmland
$8,881 $6,824 $4,684 $7,377 Up 0.3%
Central Iowa
Farmland
$9,568 $7,426 $4,993 $8,097 Up 3.3%
East Central Iowa
Farmland
$9,900 $7,674 $5,305 $8,218 Up 3.8%
Southwest Iowa
Farmland
$7,571 $5,756 $3,935 $6,085 No Change
South Central Iowa
Farmland
$5,908 $4,079 $2,824 $4,172 Down -1.6%
Southeast Iowa
Farmland
$9,471 $6,548 $3,768 $6,864 Up 2.2%

 

Iowa Farmland Prices County By County

 

Download the full farmland values report 

Iowa Average Farmland Values 2017 County By County

Iowa
County Name
2017
$ per Acre
2106
$ per acre
$ Change % Change
Adair $5,535 $5,530 $5 0.09%
Adams $4,763 $4,758 $5 0.11%
Allamakee $5,456 $5,211 $245 4.70%
Appanoose $3,647 $3,609 $38 1.06%
Audubon $7,590 $7,530 $60 0.80%
Benton $8,146 $7,922 $225 2.83%
Black Hawk $8,841 $8,599 $242 2.81%
Boone $8,440 $8,168 $272 3.32%
Bremer $8,402 $8,139 $264 3.24%
Buchanan $8,153 $7,913 $240 3.03%
Buena Vista $9,171 $8,996 $175 1.94%
Butler $7,806 $7,596 $210 2.76%
Calhoun $8,905 $8,655 $250 2.89%
Carroll $8,482 $8,342 $140 1.68%
Cass $6,737 $6,731 $6 0.09%
Cedar $8,407 $8,278 $129 1.55%
Cerro Gordo $7,703 $7,504 $199 2.66%
Cherokee $8,692 $8,577 $114 1.33%
Chickasaw $7,317 $7,084 $233 3.29%
Clarke $4,029 $3,991 $38 0.95%
Clay $8,648 $8,482 $165 1.95%
Clayton $6,963 $6,625 $311 4.70%
Clinton $7,403 $7,225 $177 2.45%
Crawford $7,870 $7,784 $86 1.10%
Dallas $7,764 $7,577 $188 2.48%
Davis $4,752 $4,693 $59 1.26%
Decatur $3,480 $3,443 $36 1.06%
Delaware $8,703 $8,379 $324 3.87%
Des Moines $7,244 $7,145 $99 1.39%
Dickinson $8,220 $8,093 $127 1.57%
Dubuque $7,951 $7,615 $335 4.41%
Emmet $8,410 $8,248 $162 1.97%
Fayette $8,000 $7,694 $306 3.97%
Floyd $7,512 $7,323 $189 2.58%
Franklin $7,750 $7,538 $213 2.82%
Fremont $6,400 $6,422 -$22 -0.34%
Greene $7,868 $7,666 $202 2.64%
Grundy $8,816 $8,552 $264 3.09%
Guthrie $6,862 $6,773 $88 1.31%
Hamilton $8,861 $8,589 $271 3.16%
Hancock $7,772 $7,565 $207 2.73%
Hardin $8,133 $7,883 $249 3.16%
Harrison $7,174 $7,147 $27 0.37%
Henry $6,696 $6,604 $92 1.39%
Howard $6,631 $6,419 $212 3.30%
Humboldt $8,555 $8,307 $248 2.98%
Ida $8,256 $8,167 $89 1.09%
Iowa $7,278 $7,123 $156 2.19%
Jackson $6,855 $6,624 $232 3.50%
Jasper $7,583 $7,441 $142 1.91%
Jefferson $5,442 $5,367 $75 1.39%
Johnson $8,769 $8,636 $133 1.54%
Jones $7,485 $7,296 $190 2.60%
Keokuk $6,431 $6,335 $96 1.52%
Kossuth $8,326 $8,103 $223 2.75%
Lee $6,539 $6,459 $80 1.23%
Linn $8,748 $8,578 $170 1.98%
Louisa $7,507 $7,393 $114 1.54%
Lucas $3,801 $3,761 $40 1.06%
Lyon $9,400 $9,254 $145 1.57%
Madison $6,079 $6,050 $29 0.48%
Mahaska $6,703 $6,610 $92 1.40%
Marion $6,570 $6,490 $80 1.23%
Marshall $7,676 $7,474 $203 2.72%
Mills $7,259 $7,283 -$25 -0.34%
Mitchell $7,696 $7,503 $193 2.58%
Monona $6,516 $6,463 $52 0.81%
Monroe $4,868 $4,807 $61 1.27%
Montgomery $5,917 $5,937 -$20 -0.34%
Muscatine $7,872 $7,752 $120 1.55%
O’Brien $10,354 $10,194 $160 1.57%
Osceola $9,069 $8,929 $140 1.57%
Page $5,400 $5,419 -$19 -0.34%
Palo Alto $8,244 $8,054 $191 2.37%
Plymouth $9,156 $9,057 $99 1.09%
Pocahontas $8,616 $8,388 $227 2.71%
Polk $7,723 $7,520 $203 2.70%
Pottawatamie $7,777 $7,777 $1 0.01%
Poweshiek $7,287 $7,134 $153 2.14%
Ringgold $4,106 $4,084 $22 0.54%
Sac $9,005 $8,858 $147 1.66%
Scott $10,497 $10,335 $162 1.57%
Shelby $7,726 $7,693 $33 0.42%
Sioux $10,202 $10,066 $136 1.35%
Story $8,652 $8,376 $276 3.30%
Tama $7,667 $7,455 $212 2.85%
Taylor $4,318 $4,315 $3 0.07%
Union $4,869 $4,842 $27 0.55%
Van Buren $5,061 $4,999 $62 1.25%
Wapello $5,459 $5,384 $76 1.41%
Warren $6,588 $6,504 $84 1.30%
Washington $8,339 $8,214 $125 1.52%
Wayne $3,702 $3,664 $39 1.06%
Webster $8,526 $8,265 $261 3.15%
Winnebago $7,194 $7,003 $191 2.73%
Winneshiek $6,586 $6,592 $263 3.99%
Woodbury $6,746 $6,691 $55 0.83%
Worth $7,158 $6,973 $185 2.66%
Wright $8,645 $8,395 $251 2.99%

 

The Iowa land values survey is not designed to help you identify the value of your farmland in Iowa but can give you an average for the area where you own a farm.  Your farm may be worth more or less and we can help you more accurately determine the potential value of your farmland.  Get a free custom market analysis for your farm today and learn what it will sell for by listing or auction.  Our Iowa Auctioneers are ready to help you achieve a top of market offer on your farmland.  Contact us today 855-376-3478

farmland prices in iowa

State Up To Date On Iowa Farmland Prices

Get updates throughout the year on farmland prices at www.DollarsAndDirt.com where we post current Iowa farmland prices as they happen so you get the most current and fresh information.

Each month we update Dollars And Dirt with the newest sale information making it the most current and comprehensive website dedicated to farmland prices in Iowa.  You’ll find rental averages, price per acre averages, price per CSR point and much more.  New farmland auction results are being added continuously so when you are considering selling farmland in Iowa keep an eye out there for the latest and most current information available.

 

Current County By County Iowa Farmland Prices Available Now At DollarsAndDirt.com

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