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Iowa State University Releases 2018 Iowa Farmland Values "Survey"

By Jason Smith, CAI Auctioneer | Land Broker | Published January 07, 2019

Iowa Farmland Prices 2018

2018 End of Year Summary of Land Values in Iowa

For over a decade now I've been writing about Iowa farmland prices on the Internet and the ISU survey is always one of my particular favorites to cover. The days of Mike Duffy's lower tech but effective approach has been replaced with Wendong Zhang's more high tech and equally as effective approach.  I always begin by explaining that this Survey, while scientific is not necessarily based on actual farmland sales results.  Its not specific to auctions or listings of farmland.  The survey begins in early November of each yearand Iowa farm real estate brokers, auctioneers, appraisers and other stakeholders get an email which takes you through the process of estimating the values of farmland in counties you serve.  Each broker, auctioneer and appraiser I'm sure has a different method for determining the value of farmland in the counties they serve and those numbers are input to a website.  Beyond that I can not speak as to how the final results are calculated but at times I've had a peak into that process and it is a somewhat complex set of calculations that go beyond just adding the numbers up and reporting them.  I have a strong interest in farmland prices across the entire state of Iowa so its always been fun to learn about this process
.  

dollars and dirt farmland prices in iowaIt doesn't seem like it was that long ago but our Iowa Farmland Prices website Dollars And Dirt was launched 7 years ago now.  This was the very first website of its kind website to track farmland sales and prices across Iowa.  We've been collecting actual sales data and reporting those monthly along with regular reports on tends in farmland values across Iowa.  We also incorportate some of the ISU Survey results into the county pages of the website.  If you are researching farmland prices for any county in Iowa you can find the most recent sale results for all 99 Iowa Counties, average farmland prices, prices per CSR2 point along with a myraid of reports that show current trends in farmland values across Iowa.  Many people find our 12 month price per acre report to be very valuable in seeing the big picture.  We keep those reports right on the home page below the Iowa map if you are looking for them.  We update them around the 3rd day of each month so you can always keep up to date on the Iowa farmland market and have the most current information available.

Average Price Per Acre for Iowa Farmland

15 Year Snapshot of Iowa Farmland Prices and Value Changes
Year

Value per 

Acre

Dollars

Change

Percent

Change

2005 $2,914 $285 +10.8%
2006 $3,204 $290 +10%
2007 $3,908 $704 +22%
2008 $4,468 $560 +14.3%
2009 $4,371 $-97 -2.2%
2010 $5,064 $693 +15.9%
2011 $6,708 $1644 +32.5%
2012 $8,296 $1588 +23.7%
2013 $8,716 $420 +5.1%
2014 $7,943 $-773 -8.9%
2015 $7,633 $-310 -3.9%
2016 $7,183 $-450 -5.9%
2017 $7,326 $143 +2.0%
2018 $7,264 $-62 -0.8%

The average price of Iowa farmland fell in the 2018 farmland price survey this year to $7,264 per acre as of November 1, 2018. This is a decrease of $62 per acre from November 2017.  This represents a 0.8 percent decline in farmland values in Iowa from last years $7,326 per acre.  Considering the difficult farm economy that has persisted over the last few years the Iowa land market has held steady.  

The past 5 years have recorded 4 declines in farmland values and an increase only in 2017.  In 2013 the average price of an acre of farmland in Iowa was $8,716.  The 2018 survey 5 years later is down $1,452 in the previous 5 years.  

In comparison to 10 years ago we are still nearly $3000 per acre positive.  In 2008 the survey showed an average price of farmland at $4468 which is $2796 per acre less than the 2018 figure.  Farmland is worth $4350 per acre more than it was worth just 15 years ago.  

From an investment perspective its easy to see why long term ownership of farmland is a favorable asset.  We've often said that short term ownership carries a much greater risk but averaged over many years farmland always appreciates even though there are years when the value can walk backward.  

Historically well cared for quality farmland has always apprecaited.  This chart of farmland prices in Iowa from the Iowa Land Value survey shows exact that.  In the past 15 years 5 of the years showed a decline in value while 10 of the years showed an increase.  For this time period it still results in a positive appreciation.  

Learn What Your Farmland is Worth Quickly

 

Farmland Prices in Iowa by District

We still see the highest average farmland prices in Northwest Iowa at $9,311 average per acre and the lowest farmland prices in south central Iowa at $4,329 per acre average.  Interesting to note that that the district with the lowest price per acre also saw the largest gain in farmland values this year at 3.8% value gained.  The largest drop in 2018 farmland prices was next door in southeast Iowa which lost 3.6% according to the survey.

farmland values in iowa 2019

 Comparative Iowa Land Values 2017-2018 By Crop Reporting District

State Average

$7,264

$7,326

-$62

-0.8%

District Name

2018 $/acre

2017 $/acre

2017-2018 $ change

2017-2018 % change

Northwest Iowa  Iowa Farmland Prices

$9,311

$9,388

-$77

-0.8%

North Central Iowa Farmland Prices

$7,789

$7,802

-$13

-0.2%

Northeast Iowa Farmland Prices

$7,543

$7,543

$0

0.0%

West Central Iowa Farmland Prices

$7,413

$7,377

$36

0.5%

Central Iowa Farmland Prices

$7,899

$8,097

-$198

-2.4%

East Central Iowa Farmland Prices

$8,004

$8,218

-$214

-2.6%

Southwest Iowa Farmland Prices

$6,060

$6,058

$3

0.0%

South Central Iowa Farmland Prices

$4,329

$4,172

$158

3.8%

Southeast Iowa Farmland Prices

$6,619

$6,864

-$245

-3.6%

 Iowa farmland prices by county

County by County Average Iowa Farmland Values in 2018

A report about Iowa farmland values would not be complete without a full breakdown by individual counties.  Below is the data from the survey that shows each specific land values in each Iowa County from the survey.  For very detailed information on land values and sales results from each county in Iowa visit www.DollarsAndDirt.com 

County Name

2018 $/acre

2017 $/acre

2017 - 2018 $ change

2017 - 2018% change

Adair County Iowa Farmland Prices 

$5,527

$5,535

-$9

-0.16%

Adams County Iowa Farmland Prices

$4,778

$4,763

$15

0.32%

Allamakee County Iowa Farmland Prices

$5,298

$5,456

-$158

-2.90%

Appanoose County Iowa Farmland Prices

$3,656

$3,647

$9

0.24%

Audubon County Iowa Farmland Prices

$7,525

$7,590

-$65

-0.86%

Benton County Iowa Farmland Prices

$7,994

$8,146

-$152

-1.87%

Black Hawk County Iowa Farmland Prices

$8,936

$8,841

$96

1.08%

Boone County Iowa Farmland Prices

$8,174

$8,440

-$266

-3.15%

Bremer County Iowa Farmland Prices

$8,501

$8,402

$99

1.18%

Buchanan County Iowa Farmland Prices

$8,249

$8,153

$96

1.18%

Buena Vista County Iowa Farmland Prices

$9,114

$9,171

-$57

-0.62%

Butler County Iowa Farmland Prices

$7,867

$7,806

$62

0.79%

Calhoun County Iowa Farmland Prices

$8,692

$8,905

-$214

-2.40%

Carroll County Iowa Farmland Prices

$8,458

$8,482

-$24

-0.28%

Cass County Iowa Farmland Prices

$6,713

$6,737

-$24

-0.35%

Cedar County Iowa Farmland Prices

$8,386

$8,407

-$20

-0.24%

Cerro Gordo County Iowa Farmland Prices

$7,773

$7,703

$69

0.90%

Cherokee County Iowa Farmland Prices

$8,685

$8,692

-$6

-0.07%

Chickasaw County Iowa Farmland Prices

$7,393

$7,317

$76

1.04%

Clarke County Iowa Farmland Prices

$4,039

$4,029

$10

0.25%

Clay County Iowa Farmland Prices

$8,593

$8,648

-$55

-0.64%

Clayton County Iowa Farmland Prices

$6,735

$6,936

-$201

-2.90%

Clinton County Iowa Farmland Prices

$7,361

$7,403

-$42

-0.57%

Crawford County Iowa Farmland Prices

$7,813

$7,870

-$57

-0.72%

Dallas County Iowa Farmland Prices

$7,573

$7,764

-$192

-2.47%

Davis County Iowa Farmland Prices

$4,723

$4,752

-$29

-0.61%

Decatur County Iowa Farmland Prices

$3,488

$3,480

$8

0.24%

Delaware County Iowa Farmland Prices

$8,575

$8,703

-$128

-1.47%

Des Moines County Iowa Farmland Prices

$7,159

$7,244

-$85

-1.18%

Dickinson County Iowa Farmland Prices

$8,267

$8,220

$47

0.58%

Dubuque County Iowa Farmland Prices

$7,744

$7,951

-$207

-2.60%

Emmet County Iowa Farmland Prices

$8,352

$8,410

-$58

-0.69%

Fayette County Iowa Farmland Prices

$7,929

$8,000

-$71

-0.89%

Floyd County Iowa Farmland Prices

$7,742

$7,512

$230

3.06%

Franklin County Iowa Farmland Prices

$7,599

$7,750

-$151

-1.95%

Fremont County Iowa Farmland Prices

$6,423

$6,400

$23

0.36%

Greene County Iowa Farmland Prices

$7,696

$7,868

-$172

-2.19%

Grundy County Iowa Farmland Prices

$8,708

$8,816

-$108

-1.23%

Guthrie County Iowa Farmland Prices

$6,748

$6,862

-$114

-1.67%

Hamilton County Iowa Farmland Prices

$8,576

$8,861

-$285

-3.22%

Hancock County Iowa Farmland Prices

$7,675

$7,772

-$97

-1.25%

Hardin County Iowa Farmland Prices

$7,871

$8,133

-$262

-3.22%

Harrison County Iowa Farmland Prices

$7,115

$7,174

-$59

-0.82%

Henry County Iowa Farmland Prices

$6,617

$6,696

-$79

-1.18%

Howard County Iowa Farmland Prices

$6,697

$6,631

$66

0.99%

Humboldt County Iowa Farmland Prices

$8,273

$8,555

-$282

-3.29%

Ida County Iowa Farmland Prices

$8,195

$8,256

-$61

-0.74%

Iowa County Iowa Farmland Prices

$7,114

$7,278

-$164

-2.26%

Jackson County Iowa Farmland Prices

$6,741

$6,855

-$114

-1.66%

Jasper County Iowa Farmland Prices

$7,438

$7,583

-$145

-1.91%

Jefferson County Iowa Farmland Prices

$5,378

$5,442

-$64

-1.19%

Johnson County Iowa Farmland Prices

$8,676

$8,769

-$92

-1.05%

Jones County Iowa Farmland Prices

$7,431

$7,485

-$54

-0.72%

Keokuk County Iowa Farmland Prices

$6,320

$6,431

-$111

-1.73%

Kossuth County Iowa Farmland Prices

$8,063

$8,326

-$263

-3.16%

Lee County Iowa Farmland Prices

$6,506

$6,539

-$34

-0.51%

Linn County Iowa Farmland Prices

$8,720

$8,748

-$28

-0.32%

Louisa County Iowa Farmland Prices

$7,432

$7,507

-$75

-0.99%

Lucas County Iowa Farmland Prices

$3,810

$3,801

$9

0.24%

Lyon County Iowa Farmland Prices

$9,454

$9,400

$54

0.58%

Madison County Iowa Farmland Prices

$6,067

$6,079

-$12

-0.20%

Mahaska County Iowa Farmland Prices

$6,622

$6,703

-$80

-1.20%

Marion County Iowa Farmland Prices

$6,536

$6,570

-$33

-0.51%

Marshall County Iowa Farmland Prices

$7,471

$7,676

-$205

-2.68%

Mills County Iowa Farmland Prices

$7,285

$7,259

$26

0.36%

Mitchell County Iowa Farmland Prices

$7,931

$7,696

$235

3.06%

Monona County Iowa Farmland Prices

$6,416

$6,516

-$99

-1.53%

Monroe County Iowa Farmland Prices

$4,836

$4,868

-$32

-0.65%

Montgomery County Iowa Farmland Prices

$5,938

$5,917

$21

0.36%

Muscatine County Iowa Farmland Prices

$7,847

$7,872

-$26

-0.33%

O'Brien County Iowa Farmland Prices

$10,413

$10,354

$60

0.58%

Osceola County Iowa Farmland Prices

$9,122

$9,069

$52

0.58%

Page County Iowa Farmland Prices

$5,420

$5,400

$20

0.36%

Palo Alto County Iowa Farmland Prices

$8,082

$8,244

-$162

-1.97%

Plymouth County Iowa Farmland Prices

$9,087

$9,156

-$68

-0.75%

Pocahontas County Iowa Farmland Prices

$8,384

$8,616

-$232

-2.69%

Polk County Iowa Farmland Prices

$7,534

$7,723

-$189

-2.45%

Pottawattamie County Iowa Farmland Prices

$7,760

$7,777

-$17

-0.22%

Poweshiek County Iowa Farmland Prices

$7,125

$7,287

-$162

-2.22%

Ringgold County Iowa Farmland Prices

$4,117

$4,106

$12

0.29%

Sac County Iowa Farmland Prices

$8,981

$9,005

-$24

-0.26%

Scott County Iowa Farmland Prices

$10,537

$10,497

$40

0.38%

Shelby County Iowa Farmland Prices

$7,656

$7,726

-$69

-0.90%

Sioux County Iowa Farmland Prices

$10,200

$10,202

-$2

-0.02%

Story County Iowa Farmland Prices

$8,382

$8,652

-$271

-3.13%

Tama County Iowa Farmland Prices

$7,510

$7,667

-$157

-2.05%

Taylor County Iowa Farmland Prices

$4,332

$4,318

$14

0.33%

Union County Iowa Farmland Prices

$4,883

$4,869

$14

0.29%

Van Buren County Iowa Farmland Prices

$5,033

$5,061

-$28

-0.56%

Wapello County Iowa Farmland Prices

$5,391

$5,459

-$68

-1.25%

Warren County Iowa Farmland Prices

$6,560

$6,588

-$28

-0.43%

Washington County Iowa Farmland Prices

$8,194

$8,339

-$144

-1.73%

Wayne County Iowa Farmland Prices

$3,711

$3,702

$9

0.24%

Webster County Iowa Farmland Prices

$8,251

$8,526

-$275

-3.22%

Winnebago County Iowa Farmland Prices

$7,105

$7,194

-$90

-1.24%

Winneshiek County Iowa Farmland Prices

$6,791

$6,856

-$65

-0.94%

Woodbury County Iowa Farmland Prices

$6,646

$6,746

-$100

-1.48%

Worth County Iowa Farmland Prices

$7,222

$7,158

$64

0.89%

Wright County Iowa Farmland Prices

$8,361

$8,645

-$284

-3.29%

 Selling Farmland in Iowa

 iowa farm land values in countyOur report here can lead you to believe farmland has a price tag.  In reality most farms are sold by professionals that understand the market, the buyers and the value of your farm.  If you are considering selling farmland in Iowa we can help you achieve a top of the market offer.  We offer multiple services that expose your farmland to a nationwide audience that starts with your neighbor across the fence to areas all across the nation.  We want to help you ensure you get the most money for your farm when its time to sell.  You can reach us Auctioneer | Land Broker Jason Smith, CAI at 515-537-6633 or Auctioneer | Land BrokerTom Bradley 515-202-7887 or email us at info@dreamdirt.com and learn how we can help you.  

<--- If you prefer to start with an estimate of the value of your land, click this link and use our Land Value Calculator at DreamDirt.  

 

 

 

 

 

 

 

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