7 Fast Facts About Iowa Farmland

June 29, 2018 04:00 AM
 
The changing characteristics of farmland ownership and leases can create opportunities for farmers looking to expand their operations.

The changing characteristics of farmland ownership and leases can create opportunities for farmers looking to expand their operations. Iowa State University just released the 2017 Iowa Farmland Ownership and Tenure Survey.

Wendong Zhang and Alejandro Plastina, both assistant professors of economics at ISU presented the findings, as well as historical perspectives. 

Here are seven facts to consider and trends to watch.

1. 82% of Iowa farmland is owned debt-free.

Iowa Farmland: Method of finance

2. Of the 30 million acres of farmland in Iowa, 47% is owner controlled and 53% is leased.

Iowa Farmland: Lease vs. Owned

3. More than half of all land in Iowa has been owned by the same owner for over 20 years, and 20% has been owned by the same owner for over 40 years.

Iowa Farmland: Years owned

4. Cash rental agreements comprise more than 80% of all Iowa farmland leases.

Iowa Farmland Lease by Type

5. Leasing relationships on 60% of Iowa farmland have been in place for less than 10 years, while the remaining 40% include leasing relationships that have been in place for over a decade. 

Iowa - Leasing Relationship Length

6. In 1982, only 1% of Iowa farmland was owned in trust. In 2017, 20% is owned in a trust.

Iowa Farmland - Ownership Type

7. Around 35% of Iowa farmland is owned by owners with no farming experience, while 23% of land is owned by retired farmers.

Iowa Farmland - Ownership Status

The Iowa Farmland Ownership and Tenure Survey compiled by Iowa State University is the first and only consistent data collection of land ownership and tenure in the nation. The 2017 survey included responses from 535 farmland owners.

Back to news


Comments

 
Spell Check

Bob
cooper, IA
6/29/2018 12:53 PM
 

  As an Iowa farmer i can tell you that when the bottom dropped thanks to Jimmy Carter the only people who survived were people who were willing to go bare bones. Patch fence, patch equipment, no frills, treat every dollar like it was your last. But then when there was opportunity you took it. We bought 300 acres of what had been 3 thousand dollar an acre land. Alot of people were mad because they thought we paid too much and they were hoping to buy the land themselves for 200 an acre. We went from crops to cattle and rented some out for cash flow. When we got more solid we kept our efficient ways and currently rent about half the land for 2/3 of the money we paid for it, every year. I went to the bank once about 10 years ago to see what an operating loan cost and he about fell off his chair when he found that we had never borrowed a dime on almost a 900 acre operation. Our "new " pickup is still a 1984 and thats the way we like it. Make short term decisions with long term vision.

 
 

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close