Unlocking the Value of Iowa Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - November 2024 Report
Welcome to Our Monthly Iowa Farmland Value Report
In this monthly report, we dive into Iowa farmland values, helping you understand the factors that determine what your farm is potentially worth. Our goal as auctioneers and farmland real estate agents is to provide you with up-to-date information, recent sales data, expert insights, and tips for maximizing the potential value of your farmland sale. Let us answer the questions you have about selling farmland in Iowa. Contact us today for a free consultation.
Understanding Iowa Farmland Values:
Rural Mainstreet Index (RMI) – November 2024 Update
Creighton University’s Rural Mainstreet Index (RMI) rose above growth neutral for the first time since July 2023, reaching 50.2 in November (up from 35.2 in October). This modest improvement reflects healthy crop yields and lower fuel costs, though weak commodity prices remain a significant concern. Over 80% of surveyed bankers cite low ag commodity prices as the greatest threat to farmers.
Iowa Highlights:
- RMI: Iowa’s RMI rose to 49.6 in November (up from 37.1 in October).
- Farmland Prices: The state’s farmland price index climbed slightly to 41.1 (from 38.6 in October).
- Hiring: Iowa’s new hiring index dipped to 49.3 (down from 52.4).
- Exports: Year-to-date agricultural and livestock exports fell 2.3% to $1.1 billion (down from $1.2 billion in 2023).
Farmland Prices:
Farmland prices across the region continued to decline, with the overall farmland price index improving slightly to 44.4 (up from October’s 38.5). Bankers anticipate a 2.7% decline in farmland prices over the next 12 months due to high input costs, elevated interest rates, and grain prices below breakeven levels.
Economic Challenges:
- Farm Equipment Sales: The index hit 14.6, its lowest since 2016, reflecting high borrowing costs and weak farm incomes.
- Banking Trends: Loan volumes and deposits decreased, influenced by higher interest rates.
- Confidence & Retail: The confidence index improved to 46.4 but remains below growth neutral. High debt levels and weaker farm incomes are affecting both retail and home sales.
This monthly survey of 10 agriculturally dependent states offers a real-time snapshot of the rural economy, highlighting ongoing challenges faced by farmers, particularly in Iowa.
For more detailed information, visit the Creighton University Rural Mainstreet Economy page.
Recent Farmland Sales Data
Let’s dive into the latest sales data, including county location, land size by acre amount, soil productivity ratings, and sale prices per acre and total price in the table below. By analyzing this data, you can get a clearer picture of how your property may be valued in the current market.
Current Average Price Per Acre of Farmland in Iowa
- In the month of November, a total of 14,592.15 acres of 80% of more tillable farmland was sold in Iowa by auction
- The current average per acre price for land in Iowa according to November Auction sales is $12,714 per acre
- The highest selling farm in Iowa in the month of November sold on the 8th in Mills County for $3,292,800.
- This farm was sold by the auction method for $11,200 per acre and was 294 acres of farmland which has a soil score rating of 72.5 CSR2 calculating to be $154/CSR point.
- The highest dollars per acre farm in Iowa that sold in the month of November went to a 51.27 acre tillable farm in Lyon County which sold for $24,250 per acre on November 13th, 2024 by auction.This farm has a 73.3 CSR2 which totals to be $331/CSR2.
- See full results from all tracts of farmland that sold in table at end of the page.
- See how these averages compared to last month and a year ago below in next section below to see trend line history.
Jason J Smith
Auctioneer & Land Broker
Jason is an experienced farmland broker and auctioneer with extensive experience in farmland sales across this Midwest. Jason has worked with hundreds of clients to create advantageous outcomes. If you are selling land schedule a consultation with Jason by calling or using the calendar.
Phone: 515-537-6633 Email: [email protected]
Current Farmland Prices in Iowa: A 12-Month Overview
Monthly Number of Acres Sold At Auction 80% or more Tillable Farms
Monthly Iowa Auction Results: Average Price Per CSR2 Point
Recently Sold Land in Iowa Price Results
Date | County | Type | Acres | $/Acre | Tillable | % Tillable | CSR2 | $/CSR2 | Total |
---|---|---|---|---|---|---|---|---|---|
11/1/2024 | Chickasaw | Tillable | 155.22 | $15,000 | 149.59 | 96.37 | 87.3 | $172 | $2,328,300 |
11/1/2024 | Sioux | Tillable | 75 | $23,400 | 72.5 | 96.67 | 97.5 | $240 | $1,755,000 |
11/1/2024 | Calhoun | Tillable | 154.1 | $13,600 | 149.31 | 96.89 | 83.5 | $163 | $2,095,760 |
11/1/2024 | Wright | Tillable | 155 | $12,900 | 152.11 | 98.14 | 83.7 | $154 | $1,999,500 |
11/1/2024 | Grundy | Tillable | 81.91 | $16,250 | 81.49 | 99.49 | 93.3 | $174 | $1,331,038 |
11/4/2024 | Polk | Development-Tillable | 33.77 | $12,000 | 28.12 | 83.27 | 66 | $182 | $405,240 |
11/4/2024 | Jasper | Tillable | 90.27 | $11,299 | 89.12 | 98.73 | 71.1 | $159 | $1,019,961 |
11/6/2024 | Webster | Tillable-CRP | 97.22 | $9,500 | 83.91 | 86.31 | 87.2 | $109 | $923,590 |
11/6/2024 | Clay | Tillable | 80 | $14,200 | 69.69 | 87.11 | 96.5 | $147 | $1,136,000 |
11/6/2024 | Butler | Tillable | 109.13 | $9,350 | 100.34 | 91.95 | 67.3 | $139 | $1,020,366 |
11/6/2024 | Clay | Tillable | 159.25 | $16,100 | 151.04 | 94.84 | 95.7 | $168 | $2,563,925 |
11/6/2024 | Fremont | Tillable | 100.6 | $9,975 | 95.6 | 95.03 | 93.6 | $107 | $1,003,485 |
11/6/2024 | Lee | Tillable | 80 | $14,500 | 76.04 | 95.05 | 61.7 | $235 | $1,160,000 |
11/6/2024 | Chickasaw | Tillable-Site | 11.53 | $14,000 | 11.05 | 95.84 | 76.3 | $183 | $161,420 |
11/6/2024 | Chickasaw | Tillable | 129.55 | $11,600 | 126.43 | 97.59 | 78.6 | $148 | $1,502,780 |
11/6/2024 | Humboldt | Tillable | 75 | $14,300 | 73.56 | 98.08 | 86 | $166 | $1,072,500 |
11/6/2024 | Clay | Tillable | 74 | $11,600 | 73.63 | 99.50 | 92 | $126 | $858,400 |
11/6/2024 | Cerro Gordo | Tillable-CRP | 64.85 | $10,991 | 64.85 | 100.00 | 81.9 | $134 | $712,766 |
11/7/2024 | Iowa | Tillable | 61.5 | $10,500 | 49.55 | 80.57 | 58.9 | $178 | $645,750 |
11/7/2024 | Clinton | Site-Tillable | 11 | $16,750 | 8.95 | 81.36 | 91.7 | $183 | $184,250 |
11/7/2024 | Clinton | Tillable | 105 | $11,300 | 96.96 | 92.34 | 83.9 | $135 | $1,186,500 |
11/7/2024 | Lyon | Tillable | 88.32 | $21,000 | 83.86 | 94.95 | 69.7 | $301 | $1,854,720 |
11/7/2024 | Humboldt | Tillable | 73 | $11,800 | 71.3 | 97.67 | 83.8 | $141 | $861,400 |
11/7/2024 | Clinton | Tillable | 76.3 | $10,300 | 75.3 | 98.69 | 75.6 | $136 | $785,890 |
11/7/2024 | Kossuth | Tillable | 80 | $6,400 | 79.79 | 99.74 | 53.8 | $119 | $512,000 |
11/8/2024 | Mills | Tillable | 294 | $11,200 | 259.87 | 88.39 | 72.5 | $154 | $3,292,800 |
11/8/2024 | Hancock | Tillable | 75 | $14,000 | 66.74 | 88.99 | 82.3 | $170 | $1,050,000 |
11/8/2024 | Hancock | Tillable-Hay | 80 | $13,200 | 71.66 | 89.58 | 84.7 | $156 | $1,056,000 |
11/8/2024 | Wright | Tillable | 148 | $8,500 | 134.73 | 91.03 | 81.4 | $104 | $1,258,000 |
11/8/2024 | Hancock | Tillable | 78 | $13,600 | 71.47 | 91.63 | 85.2 | $160 | $1,060,800 |
11/8/2024 | Hamilton | Tillable | 85 | $12,300 | 78.89 | 92.81 | 81 | $152 | $1,045,500 |
11/8/2024 | Sioux | Tillable | 103.05 | $13,700 | 97.79 | 94.90 | 75.2 | $182 | $1,411,785 |
11/8/2024 | Wright | Tillable | 76 | $10,600 | 72.26 | 95.08 | 78.7 | $135 | $805,600 |
11/8/2024 | Hancock | Tillable | 80 | $14,500 | 76.54 | 95.68 | 85.9 | $169 | $1,160,000 |
11/8/2024 | Hardin | Tillable | 118 | $10,000 | 115.84 | 98.17 | 76.7 | $130 | $1,180,000 |
11/9/2024 | Marion | Tillable | 61 | $17,700 | 55.45 | 90.90 | 85.2 | $208 | $1,079,700 |
11/9/2024 | Marion | Tillable | 90 | $18,100 | 86.88 | 96.53 | 90.8 | $199 | $1,629,000 |
11/11/2024 | Lyon | Tillable | 59.95 | $18,600 | 58.5 | 97.58 | 68.2 | $273 | $1,115,070 |
11/11/2024 | Lyon | Tillable | 99.48 | $17,700 | 97.65 | 98.16 | 72.5 | $244 | $1,760,796 |
11/12/2024 | Adair | Tillable-CRP | 102.91 | $6,700 | 88.58 | 86.08 | 62.8 | $107 | $689,497 |
11/12/2024 | Plymouth | Tillable | 80 | $10,000 | 73 | 91.25 | 54.3 | $184 | $800,000 |
11/12/2024 | Osceola | Tillable | 80 | $17,800 | 74.94 | 93.68 | 90.5 | $197 | $1,424,000 |
11/12/2024 | Fremont | Tillable | 57.73 | $8,755 | 54.74 | 94.82 | 66.5 | $132 | $505,426 |
11/12/2024 | Humboldt | Tillable | 184 | $10,500 | 177 | 96.20 | 83.1 | $126 | $1,932,000 |
11/12/2024 | Palo Alto | Tillable | 80 | $11,000 | 78.09 | 97.61 | 84.4 | $130 | $880,000 |
11/12/2024 | Calhoun | Tillable | 144.01 | $14,300 | 143.16 | 99.41 | 84.7 | $169 | $2,059,343 |
11/12/2024 | Clinton | Tillable | 151.35 | $12,444 | 151.35 | 100.00 | 76 | $164 | $1,883,399 |
11/12/2024 | Washington | Tillable | 74.1 | $13,700 | 74.1 | 100.00 | 77.4 | $177 | $1,015,170 |
11/12/2024 | Fremont | Tillable | 80 | $7,725 | 80.58 | 100.73 | 74.5 | $104 | $618,000 |
11/13/2024 | Adams | Tillable | 237.47 | $6,300 | 189.75 | 79.90 | 66.3 | $95 | $1,496,061 |
11/13/2024 | Adams | Tillable | 159.25 | $6,750 | 130.25 | 81.79 | 69.8 | $97 | $1,074,938 |
11/13/2024 | O'Brien | Tillable-CRP | 153 | $10,500 | 134.75 | 88.07 | 92.7 | $113 | $1,606,500 |
11/13/2024 | Union | Tillable | 335.09 | $8,400 | 300.24 | 89.60 | 78.5 | $107 | $2,814,756 |
11/13/2024 | Adams | Tillable | 200 | $6,600 | 183 | 91.50 | 56.9 | $116 | $1,320,000 |
11/13/2024 | Lyon | Tillable | 45.41 | $23,500 | 43.23 | 95.20 | 70.3 | $334 | $1,067,135 |
11/13/2024 | Adams | Tillable | 238.9 | $10,000 | 227.58 | 95.26 | 73.7 | $136 | $2,389,000 |
11/13/2024 | Lyon | Tillable | 96.35 | $22,700 | 92 | 95.49 | 75 | $303 | $2,187,145 |
11/13/2024 | Taylor | Tillable | 156 | $8,500 | 151.45 | 97.08 | 69.6 | $122 | $1,326,000 |
11/13/2024 | Lyon | Tillable | 51.27 | $24,250 | 50.35 | 98.21 | 73.3 | $331 | $1,243,298 |
11/13/2024 | Floyd | Tillable | 159.26 | $7,061 | 157.69 | 99.01 | 76 | $93 | $1,124,535 |
11/13/2024 | Taylor | Tillable | 195.8 | $12,200 | 194.77 | 99.47 | 75.1 | $162 | $2,388,760 |
11/13/2024 | Floyd | Tillable | 159.28 | $9,109 | 159.28 | 100.00 | 80.5 | $113 | $1,450,882 |
11/14/2024 | Jackson | Tillable | 29.68 | $8,800 | 26.69 | 89.93 | 32.8 | $268 | $261,184 |
11/14/2024 | Jackson | Tillable | 40 | $15,000 | 36.74 | 91.85 | 54.3 | $276 | $600,000 |
11/14/2024 | Worth | Tillable | 82.59 | $12,700 | 76.22 | 92.29 | 79.8 | $159 | $1,048,893 |
11/14/2024 | Jackson | Tillable | 37.98 | $11,500 | 35.79 | 94.23 | 37.5 | $307 | $436,770 |
11/14/2024 | O'Brien | Tillable | 40 | $7,200 | 38.06 | 95.15 | 81.3 | $89 | $288,000 |
11/14/2024 | Buena Vista | Tillable | 71.57 | $14,000 | 68.3 | 95.43 | 91.7 | $153 | $1,001,980 |
11/14/2024 | Dickinson | Tillable | 162.08 | $12,900 | 157.09 | 96.92 | 84.5 | $153 | $2,090,832 |
11/14/2024 | Clay | Tillable | 60.215 | $15,250 | 58.5 | 97.15 | 94.8 | $161 | $918,279 |
11/14/2024 | Chickasaw | Tillable | 145.74 | $9,600 | 145.74 | 100.00 | 73.2 | $131 | $1,399,104 |
11/14/2024 | O'Brien | Tillable | 79.5 | $16,200 | 79.5 | 100.00 | 95.6 | $169 | $1,287,900 |
11/14/2024 | Sioux | Tillable | 40.61 | $18,500 | 40.61 | 100.00 | 91.7 | $202 | $751,285 |
11/15/2024 | Page | Tillable | 69.97 | $8,700 | 57.64 | 82.38 | 69.1 | $126 | $608,739 |
11/15/2024 | Keokuk | Tillable | 80 | $12,200 | 71 | 88.75 | 73.2 | $167 | $976,000 |
11/15/2024 | Sioux | Tillable | 75.18 | $18,700 | 69.5 | 92.44 | 91.3 | $205 | $1,405,866 |
11/15/2024 | Keokuk | Tillable | 157 | $14,500 | 147 | 93.63 | 71.2 | $204 | $2,276,500 |
11/15/2024 | Story | Tillable | 186.42 | $14,200 | 182.7 | 98.00 | 87.3 | $163 | $2,647,164 |
11/15/2024 | Sioux | Tillable | 80.84 | $21,750 | 79.83 | 98.75 | 95.3 | $228 | $1,758,270 |
11/15/2024 | Story | Tillable-Wind Turbine | 171.15 | $13,700 | 169.4 | 98.98 | 87.7 | $156 | $2,344,755 |
11/15/2024 | Allamakee | Tillable-Organic | 47.25 | $10,000 | 47.25 | 100.00 | 60.2 | $166 | $472,500 |
11/15/2024 | Keokuk | Tillable | 77 | $18,800 | 77 | 100.00 | 85.4 | $220 | $1,447,600 |
11/16/2024 | Cass | Tillable-Wind Turbine | 150 | $9,200 | 121.1 | 80.73 | 62.3 | $148 | $1,380,000 |
11/16/2024 | Cass | Tillable | 76 | $8,700 | 62.4 | 82.11 | 66.7 | $130 | $661,200 |
11/16/2024 | Cass | Tillable | 152 | $6,500 | 130.2 | 85.66 | 56.7 | $115 | $988,000 |
11/18/2024 | Sioux | Tillable | 48.24 | $16,000 | 45.73 | 94.80 | 86 | $186 | $771,840 |
11/19/2024 | Plymouth | Tillable | 75.09 | $10,600 | 66.19 | 88.15 | 63.2 | $168 | $795,954 |
11/19/2024 | Plymouth | Tillable | 99.61 | $9,200 | 91.59 | 91.95 | 55.3 | $166 | $916,412 |
11/19/2024 | Hancock | Tillable | 114 | $13,056 | 106.92 | 93.79 | 83.8 | $156 | $1,488,384 |
11/19/2024 | Plymouth | Tillable | 56.72 | $12,000 | 54.04 | 95.28 | 54 | $222 | $680,640 |
11/19/2024 | Story | Tillable | 76 | $12,600 | 73.47 | 96.67 | 79.7 | $158 | $957,600 |
11/19/2024 | Plymouth | Tillable | 76.73 | $9,750 | 74.5 | 97.09 | 58.3 | $167 | $748,118 |
11/19/2024 | Calhoun | Tillable | 80 | $17,500 | 77.76 | 97.20 | 86 | $203 | $1,400,000 |
11/19/2024 | Union | Tillable | 39.75 | $7,100 | 39.14 | 98.47 | 66.8 | $106 | $282,225 |
11/19/2024 | Winneshiek | Tillable | 156 | $14,000 | 155.67 | 99.79 | 83.1 | $168 | $2,184,000 |
11/20/2024 | Pottawattamie | Tillable | 80 | $11,900 | 68.02 | 85.03 | 70.2 | $170 | $952,000 |
11/20/2024 | Pottawattamie | Tillable | 182 | $12,600 | 159.54 | 87.66 | 62.9 | $200 | $2,293,200 |
11/20/2024 | Pottawattamie | Tillable | 125 | $16,300 | 118.46 | 94.77 | 73.9 | $221 | $2,037,500 |
11/20/2024 | Pottawattamie | Tillable | 160 | $12,700 | 152.47 | 95.29 | 54.8 | $232 | $2,032,000 |
11/20/2024 | Grundy | Tillable | 151.39 | $12,600 | 145.54 | 96.14 | 89.8 | $140 | $1,907,514 |
11/20/2024 | Worth | CRP | 115 | $8,900 | 111.2 | 96.70 | 80 | $111 | $1,023,500 |
11/21/2024 | Monroe | Tillable | 31 | $8,100 | 27.61 | 89.06 | 51.1 | $159 | $251,100 |
11/21/2024 | Cerro Gordo | Tillable | 80 | $7,550 | 75.48 | 94.35 | 64.9 | $116 | $604,000 |
11/21/2024 | Chickasaw | Tillable-CRP | 57.13 | $9,000 | 54 | 94.52 | 78.7 | $114 | $514,170 |
11/21/2024 | Chickasaw | CRP | 35 | $5,775 | 33.4 | 95.43 | 52.3 | $110 | $202,125 |
11/21/2024 | O'Brien | Tillable | 80 | $16,200 | 77.46 | 96.83 | 92.9 | $174 | $1,296,000 |
11/21/2024 | Kossuth | Tillable | 156.36 | $10,500 | 152.37 | 97.45 | 73.8 | $142 | $1,641,780 |
11/21/2024 | O'Brien | Tillable | 80 | $16,100 | 78.45 | 98.06 | 92.5 | $174 | $1,288,000 |
11/21/2024 | Buena Vista | Tillable | 154 | $14,000 | 151.3 | 98.25 | 85.7 | $163 | $2,156,000 |
11/21/2024 | Chickasaw | Tillable | 77.55 | $10,325 | 76.9 | 99.16 | 84.9 | $122 | $800,704 |
11/21/2024 | Muscatine | Tillable | 148.91 | $16,800 | 148.91 | 100.00 | 90 | $187 | $2,501,688 |
11/21/2024 | Chickasaw | Tillable | 31.77 | $9,325 | 32.2 | 101.35 | 68.7 | $136 | $296,255 |
11/22/2024 | Polk | Tillable | 116 | $14,700 | 98.5 | 84.91 | 83.6 | $176 | $1,705,200 |
11/22/2024 | Ida | Tillable | 120 | $13,100 | 108.13 | 90.11 | 74 | $177 | $1,572,000 |
11/22/2024 | Hardin | Tillable | 160 | $10,600 | 146.13 | 91.33 | 85.7 | $124 | $1,696,000 |
11/22/2024 | Sioux | Tillable | 50.44 | $16,800 | 47.82 | 94.81 | 86.2 | $195 | $847,392 |
11/22/2024 | Hancock | Tillable | 87.46 | $16,000 | 84.28 | 96.36 | 86.3 | $185 | $1,399,360 |
11/22/2024 | Ida | Tillable | 160 | $16,750 | 154.38 | 96.49 | 83.1 | $202 | $2,680,000 |
11/22/2024 | Ida | Tillable | 154 | $12,600 | 149.67 | 97.19 | 76.9 | $164 | $1,940,400 |
11/22/2024 | Black Hawk | Tillable | 74.06 | $15,200 | 72 | 97.22 | 80.3 | $189 | $1,125,712 |
11/22/2024 | Ida | Tillable | 80 | $15,250 | 78.76 | 98.45 | 78.4 | $195 | $1,220,000 |
11/25/2024 | Plymouth | Pasture | 64.79 | $10,000 | 56.85 | 87.75 | 59.9 | $167 | $647,900 |
11/25/2024 | Plymouth | Tillable | 90.1 | $14,000 | 80.56 | 89.41 | 75.6 | $185 | $1,261,400 |
11/25/2024 | Clinton | Tillable | 160 | $9,800 | 144.13 | 90.08 | 58 | $169 | $1,568,000 |
11/25/2024 | Plymouth | Tillable | 119.16 | $11,750 | 114 | 95.67 | 65.1 | $180 | $1,400,130 |
11/25/2024 | Plymouth | Tillable | 110.76 | $13,250 | 106.59 | 96.24 | 73.4 | $181 | $1,467,570 |
11/26/2024 | Hardin | Tillable-Farmstead | 80 | $11,000 | 72.87 | 91.09 | 85 | $129 | $880,000 |
11/26/2024 | Hardin | Tillable | 20 | $10,500 | 18.64 | 93.20 | 86.6 | $121 | $210,000 |
11/26/2024 | Howard | Tillable | 160 | $15,600 | 151.8 | 94.88 | 89.4 | $174 | $2,496,000 |
11/26/2024 | Kossuth | Tillable | 80 | $10,800 | 75.91 | 94.89 | 88.1 | $123 | $864,000 |
11/26/2024 | Dallas | Tillable | 167.04 | $13,939 | 159 | 95.19 | 81.2 | $172 | $2,328,371 |
11/26/2024 | Hardin | Tillable | 40 | $12,600 | 38.32 | 95.80 | 78.1 | $161 | $504,000 |
11/26/2024 | Kossuth | Tillable-CRP | 140 | $18,000 | 136.02 | 97.16 | 77.2 | $233 | $2,520,000 |
11/26/2024 | Lyon | Tillable | 40 | $18,700 | 38.9 | 97.25 | 90.8 | $206 | $748,000 |
11/26/2024 | Pocahontas | Tillable | 117 | $9,250 | 114.8 | 98.12 | 83 | $111 | $1,082,250 |
11/26/2024 | Fremont | Tillable | 77.58 | $11,800 | 76.95 | 99.19 | 87.4 | $135 | $915,444 |
11/26/2024 | Fremont | Tillable | 154.34 | $10,000 | 154.22 | 99.92 | 75.6 | $132 | $1,543,400 |
11/26/2024 | Fremont | Tillable-Irrigation | 154.3 | $10,900 | 154.3 | 100.00 | 81.4 | $134 | $1,681,870 |
11/27/2024 | Lyon | Tillable | 58.91 | $19,900 | 58.3 | 98.96 | 88.2 | $226 | $1,172,309 |
11/29/2024 | Jefferson | Tillable | 44.5 | $9,100 | 40.12 | 90.16 | 64.3 | $142 | $404,950 |
11/29/2024 | Jefferson | Tillable | 141.5 | $10,650 | 136.59 | 96.53 | 68.1 | $156 | $1,506,975 |
Totals/Averages | 14592.145 | $12,714 | 13763.36 | 94.41 | 76.92624113 | $166 | $179,743,597 |
Navigating the Selling Process:
Tips for Selling Your Farm in Iowa
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Assessing Your Farm’s Worth:
Iowa Land Market Analysis Appraisal Technique
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