9% Rise in Average Iowa Cash Rent
The statewide average cash rent in Iowa rose 9% for 2023, according to an annual survey conducted by Iowa State University (ISU) Extension. This year’s update on cash rents pegged the statewide average at $279 an acre, up $23 and 9% from last year’s $256. This year’s average takes out the previous high of $270 set in 2013 and is the fourth consecutive rise since the low of $219 set in 2019.
According to the survey, conducted by ISU Extension Economist Alejandro Plastina, the highest crop district cash rent average is reported out of northeast Iowa, district 3, at $307 an acre. This is $28, or 10%, higher than 2022 when that crop district also posted the highest district-wide average. Crop district 1, northwest Iowa, follows with an average of $302 an acre, up $32, or 12%, from the previous year. District 4, west central, is third highest at $298 followed by district 5, central, at $292.
As usual, the three southern districts report the lowest averages with district 8, south central, the lowest at $227. This is up $24, or 12%, from the previous year.
On a county basis, Delaware County reports the highest average cash rent at $339 an acre. It is followed by Dubuque County at $338 an acre. Cherokee County reports a county average of $337 followed by Scott County at $331 an acre.
The lowest county average is $187 reported out of Lucas and Monroe Counties with Appanoose and Wayne Counties listing an average of $193 an acre. These were the only counties with an average below $200 an acre.
