Iowa Farmland
Center for Agricultural and Rural Development
Iowa Farmland

Resources

in conjunction with Iowa State University Extension and Outreach

 

Questions or Media Contact – Dr. Rabail Chandio

  • Dr. Rabail Chandio, an assistant professor of Economics and extension economist at Iowa State University, is lead researcher of the ISU Land Value Survey. For questions regarding the survey and land value in general, please feel free to contact Dr. Chandio at rchandio@iastate.edu or call the office at 515-294-6181.

Upcoming Webinars

  • Dr. Chandio will present and discuss the recent farmland ownership trends in the Pro-Ag Outlook and Management Webinar. Registration is open.
  • Dr. Chandio will be discussing Iowa farmland values and ownership dynamics at the 34th Integrated Crop Management Conference on Dec 4-5, 2023. Registration is open.

Recent Analysis of Land Value Trends

Current Trends in Iowa Land Values

Expectations about Future Land Values

  • The Ag Economy Barometer led by Purdue University, a nationwide monthly agricultural producer survey, showed that farmland value index is up both for the short-term and long-term reflecting that the responders expect higher farmland values in the future.

Land Values in Other States

  • Across the Corn Belt and Great Plains, the land market saw consistent, yet more modest, increases. Many neighboring states also experienced recent large increases in land values, especially in surveys conducted in recent months despite the downward pressure from the commodity markets and rising interest rates.
    • The 2023 land value survey conducted by Purdue University reported a 7.3%, 5.8%, and 0.7% increase for Indiana’s statewide top-, medium-, and low-quality farmland values, respectively, from June 2022 to June 2023.
    • The quarterly AgLetter report by the Chicago Federal Reserve Bank issued in August 2023 indicated a 9% increase in Illinois, a 2% increase in Iowa, and 8% and 23% growth for Wisconsin and Indiana, respectively, for the period of July 1, 2022, to July 1, 2023. It also reported an overall 3% growth over the last quarter for the seventh district.
    • The quarterly Ag Credit Survey conducted by the Kansas City Federal Reserve Bank, published in August 2023, revealed that the values of non-irrigated cropland in western Missouri and Nebraska grew 17% and 5% from the previous year, respectively.
    • The Illinois Society of Professional Farm Managers and Rural Appraisers and University of Illinois reported in March 2023 that Illinois land values have seen an increase across all land classes with a sharp increase of 23% for excellent farmland tracts over the 2022 year.
    • The February 2023 Nebraska report indicated the average market value of dryland nonirrigated cropland increased by 13% compared to one year earlier.

Presentations on Land Values

Publications on Farmland Market

Soil Management and Land Valuation Conference

  • Details about the 2023 SMLV conference can be found here
  • 2023 marks the 95th anniversary of this longest-running conference at ISU
  • This year’s program examined several current issues in rural property management, appraisal, and sale/purchase, as well as agricultural policy. Current issues and their implications to soil management and land valuation were presented by leading experts in (1) agricultural policy and economy outlook, (2) panel discussion on soil health science, policy, and practice, (3) weather outlook and its impacts on agricultural production, (4) the threat of animal disease outbreaks and the government responses to them, and (5) legal updates on the federal and state law and tax changes affecting agriculture and land values.

Data Sources for Land Values

Publications Outlets on Land Values