(Atlantic) The annual ISU Farmland survey shows a slight increase in Iowa Farmland values statewide since 2019.
In Atlantic, Peter Smith, President and Certified Appraiser for Smith Land Service, said the average statewide value of an acre of Iowa farmland is $7,559, an increase of 1.7-percent, or $127.00 per acre. The 1.7-percent increase in value represents a statewide average of low-, medium-, and high-quality farmland.
Smith says the largest increase showed up in the Northeast, West Central, South Central, and southeast districts with a 5% to 8% or more increase in value.
Smith said while much of the state experienced a slight increase in farmland values, southwest Iowa showed a slight decrease in value, with a 0.8 percent decrease in Cass County.
According to the USDA’s Economic Research Service, farm payments will increase by 107% in 2020, mostly due to supplemental and ad hoc disaster assistance for COVID-19 relief. They also project farm income to increase by 43.1% in 2020.
Southwest Iowa average farmland values:
Harrison, $7,376, +0.8%
Shelby, $7,878, -0.1%
Audubon, $7,789, +0.9%
Guthrie, $7,080, +1.2%
Adair, $5,634, -0.5%
Cass, $6,825, -0.8%
Pottawattamie, $7,907, -0.5%
Mills, $7,238, -2.5%
Montgomery, $6,042, -0.2%
Adams, $4,966, +1.7%
Taylor, $4,557, +2.9%
Page, $5,509, -0.3%
Fremont, $6,577, +0.5%
