A New Collaboration with FarmlandFinder: Quarterly Update on Iowa Farmland Supply and Prices
I am excited to join Steven Brockshus at FarmlandFinder in launching this joint collaboration between Iowa State University Extension and Outreach and FarmlandFinder. Starting from Q1, 2021, we will launch a quarterly CARD report offering updates on Iowa farmland supply and price trends. I think this quarterly update, built on ISU-FarmlandFinder Research Collaboration Agreement 136585, provides timely and important ground-truth information on the Iowa land market, especially critical land supply information. More details could be found on the CARD website.
2020 ISU Land Value Survey
The 2020 ISU Land Value Survey shows a 1.7% increase in average Iowa farmland values from November 2019 to November 2020. The average statewide value of an acre of farmland is now estimated at $7,559. This modest rise is the third increase in Iowa farmland values over the past six years, and a second consecutive rise. The 2020 land value still represents a 13% decline from the 2013 peak in nominal land values, or a 22% drop in inflation-adjusted values.
The recent increase is largely attributable to record-level federal ad hoc payments, drastic cuts in interest rates by the Federal Reserve, recent surges in agricultural exports and commodity prices, and limited land supply.
2017 Iowa Farmland Ownership & Tenure Survey Paper Copy Available for Order ($5 Only)
The new, 60-page 2017 Iowa Farmland Ownership and Tenure Survey report is available for order at the Extension Store for only $5 each paper copy. This is a unique survey across the nation which provides statistically representative information on many aspects of land ownership, tenure and transitions in Iowa. For example, the survey finds that 60% of Iowa land is owned by people 65 years or older, 82% of Iowa land is owned free of debt, and 29% of all acres is primarily owned for family or sentimental reasons.