(Le Mars) — After three years of declines, land values have rebounded, according to an annual survey conducted by Iowa State University. Iowa land values increased two percent during 2017, and according to Iowa State University Agricultural economist, Dr. Wendong Zhang, land across the state saw either a modest increase or no change. Only south central Iowa had
a loss of land value. The survey results were released on Tuesday. The average price for land across the state is at $7,326 per acre which is $143 more per acre than what was reported last year. Northwest Iowa’s farmland saw an increase of 1.6 percent over last year. Sioux and O’Brien Counties are among
the counties with the highest value for farmland at $10,202 in Sioux County, and $10,354 in O’Brien County. Only Scott County, located in east central Iowa at Davenport, had higher priced land at $10,497 average per acre. Plymouth County average farmland value is at $9,156 per acre. Zhang says lower
quality land saw smaller increases in average land value.
The Iowa State Ag Economists offers his reasons for the small increase in land values.
Zhang makes that claim, based on what he says, farm income doesn’t show signs of huge improvements in the near future.
According to the land value survey, Decatur, Wayne, and Appanoose Counties, located in south central Iowa, have the lowest average farmland at just over $3,000 an acre.
