The value of Iowa tillable farmland declined 1.2% from March to September, according to the Iowa Chapter of the Rural Land Institute’s most recent survey. Following a slight decline from September 2024 to March 2025 yields an annual decrease of 2.2%.
After rapid gains in values in 2021in to 2023 and weakness in early 2024, the land market has continued a sideways trend from March 2024 through much of 2025.
Looking at results on a crop district basis finds the northwest district down 0.6% for the six-month period and down 1.8% on an annual basis. The north central district is down 1.7% and 3.8%, respectively. The northeast is down 0.9% and 1.0% annually. The west central district is off 1.6% and down 3.2% for the year.
The central district records the deepest annual decline at a negative 2.8% and 4.2% for the year. The east district reports a 1.1% six-month decline and a 2.6% annual decrease. The southwest district reports a 0.2% six-month slide and a slim 0.7% decline for the year. Similarly, the south central lists a 0.6% six-month decrease and a 0.4% annual decline. That district reported a slim 0.2% rise in the previous six months. The southeast district notches a 0.8% slippage and an annual loss of 1.5%.
Rebecca Frantz and Matt Vegter, Hertz Real Estate Services, Nevada, Iowa, who conducted the survey, note factors supporting farmland values are a lack of inventory, expectations for an above average crop for most of Iowa along with strong cattle prices. They report survey respondents are curious to see how the farmland market will respond to the seasonal increase in farms for sale through the fall and winter months.
Contrary to the trend in tillable acres, pastureland values rose 3.3% the past six months. That follows a 0.3% decline marked by the prior survey. The northeast district led gains with a 6.8% surge to an average value of $5,242 an acre. The west central follows with a 5.7% boost to $5,007 an acre. The central district marks a 5,2% rise at $4,656 an acre.
The southwest district shows a 4.5% rise. The northwest is up 3.8% and the north central reports a 2.5% increase.
The slimmest gains are reported by the south and southeast districts. The east central is up 0.8% at $5,368 an acre. The south central follows with a 0.6% rise at $4,677 an acre and the southeast is unchanged at $4,775 an acre.
Timberland values followed the trend in tillable acres with a decline of 0.8%. That’s after posting a 1.2% gain the previous six months. Three districts are unchanged to slightly higher. Six are negative. The southeast is unchanged, the south central is up 0.2% and the west central is up 0.6%.
The highest timberland value is reported out of the south central district at $4,809 an acre. That is followed by the east central at $4,743 an acre, which is down 1.1% from the prior six months. The lowest average value is reported in the north central district at $3,768. It is down 0.9% from the previous report. That is followed by the central district’s $4,346 – which is down 2.1% from earlier.