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NW Iowa Land Values

Northwest Iowa farmland values dropped in 2023, according to the annual Iowa State University survey. The average value of an acre of farmland was down less than a percent, at 14,753 dollars. The northwest section was the only one of nine with a drop in value, but the average price was still higher than any other reporting district in Iowa. Sioux County had the highest per acre value, averaging just over 16,500 dollars. That was nearly the same as the 2022 survey rate. It was also the highest rate in the state. Plymouth County farmland value went up according to the survey, to 15,214 an acre, up 250 dollars from 2022. The three positive impacts affecting farmland values were limited land supply, strong yields, and a combination of cash on hand and credit availability. Negative factors in the survey included Interest rate hikes, falling commodity price,s and higher input costs.