Farmland Values in Iowa, North Dakota, and Minnesota Soar to $30,000 per Acre

SIOUX CITY, IA (trfnews.i234.me) A parcel of farmland hit $30,000 an acre in Iowa. A look at Minnesota and North Dakota values.
land prices hit 30 thousand dollars an acre for a 75 acre plot last fall in Iowa well that’s an anomaly uh land prices in Iowa are still high here’s a recent land survey from the Iowa State University this year’s survey results shows as of November 1st 2022 average Farmland values in Iowa stand at eleven thousand dollars a little shy of eleven thousand dollars five hundred dollars per acre which represents 17 percent increase over past year levels and that is following a remarkable run in 2021 a 29 increase so if you’re looking at how the land market compare with the land value history we started collection in 1940s the Blue Line shows we have a dramatic increase over the past two years and the nominal land values are stood at historical highs not only that even despite the high inflation we have experienced over the past two years the inflation the adjusted values Rose eight to nine percent this year as well which means that the red line shows the current inflation adjusted land values for Iowa actually a little past surpassed the previous peak in 2013 so both in the nominal terms and in inflation in the dusty terms Iowa farm and market is at an all-time high now here’s a look at USDA average Farmland numbers for North Dakota and Minnesota this is going to vary widely from different parts of the state but North Dakota the average Farm Real Estate Value two thousand fifty dollars per acre in 2022 up 13 Minnesota five thousand fifty dollars per acre in 2022 up fourteen percent I’m Neil Berg reporting for itrfnews.i234.me