After several years of modest gains and losses, the average value of an acre of Iowa farmland skyrocketed 29% in 2021, according to the 2021 Iowa State University Land Value Survey. The nominal value of an acre of farmland is now higher than at any point since Iowa State University began surveying values in 1941, and is 12% higher than the previous peak in 2013; although the current value in inflation-adjusted terms is still lower than that for 2012 and 2013.
Wendong Zhang, associate professor, announced the findings of the annual survey conducted by the Center for Agricultural and Rural Development at a press conference Dec. 14.
The last time farmland values increased more than 25% was in 2011, when values rose 32.5%. “Surging ethanol demand and high commodity prices were two of the significant factors driving the increase in 2011,” said Zhang. “The increase this year is in part due to much stronger commodity prices thanks to higher exports, stronger than expected crop yields, and strong ad hoc COVID-19 related government payments."
CARD offers a web portal at https://www.card.iastate.edu/farmland/ that includes visualization tools, such as charts and interactive county maps, allowing users to examine land value trends over time at the county, district, and state level.
This story covered by:
Radio Iowa, Dec. 14
Successful Farming, Dec. 14
Iowa Farmer Today, Dec. 14
Telegraph Herald, Dec. 14
Des Moines Register, Dec. 15
KCCI, Dec. 15
WOW-TV, Dec. 15
WQAD, Dec.15
The Gazette, Dec. 15
WOI-TV, Dec. 16
St. Joseph Post, Dec. 16
KCAU, Dec. 16
WNAX, Dec. 17
KIEM, Dec. 17
Sioux City Journal, Dec. 19
Guttenberg Press, Jan. 12