Spike in Iowa Farmland Values

Iowa farmland averaged $9,400 an acre this year, according to the USDA’s 2022 Land Values Summary. One Iowa appraisal company reported top Iowa farmland values of up to $25,000 an acre. Across the Midwest, Iowa was tops, followed by Illinois at $8,900 an acre, Indiana at $8,000 an acre, and Kansas at $2,630 an acre. From January through July, some 70,000 acres of Iowa farmland were sold, approximately 30,000 more than the same time span in 2021. Extreme drought slowed the momentum this summer; the USDA report showed that half of the state’s topsoil was considered short to very short of moisture. Rising interest rates and market uncertainty will also likely slow farmland purchases going into 2023. Read more HERE.