The average value of an acre of Iowa cropland rose 0.1% for the six-month period ending in March, according to the semi-annual survey conducted by the Iowa Chapter of the Realtors Land Institute (RLI). That increase combined with the 0.8% increase reported in September 2019 indicates a statewide average increase of 0.9% from March 1, 2019 to March 1, 2020, RLI says.
Crop reporting districts were consistent with less than a 1% change in most districts. The southeast district saw the largest increase with 1.8% while the south-central district saw the largest decrease at 1.3%.
Major factors supporting farmland values today cited by survey respondents include a tight supply of quality farms on the market, MFP Payments, low interest rates, and above average yields in many areas. Major negative factors include continued trade uncertainty and low commodity prices that are straining net farm incomes.
Iowa Cropland Values by Crop Districts/Land Classification