Iowa Farmland Posts 9.4% Six-Month Gain
Mar 28, 2013
The value of Iowa farmland rose 9.4% from September to March, according to a survey of land professionals conducted by the Iowa Chapter of the REALTORS Land Institute. Combining that 9.4% gain with the 7.7% increase from March to September found in the September survey yields an increase of 17.1% for the year-long period ending March 1.
All nine Iowa crop reporting district showed an increase. The districts varied from a 6.7% rise in west central Iowa to a 12.6% increase in northeast Iowa for the September to March period.
The survey pegs the statewide value of an acre of high-quality cropland at $11,515 an acre; the average value of an acre of medium-quality cropland at $8,693 an acre; the average value of an acre of low-quality cropland at $5,864 an acre. The northwest crop reporting district reports an average value of $13,387 an acre for high-quality cropland, the highest average in the state. The south-central district reports the lowest average price for high-quality cropland at $8,480 an acre. Of the nine state crop reporting districts, the south central is the only district with a sub-$10,000-an-acre average for high-quality cropland.
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