The Iowa State University Farmland value survey shows a record price once again, but the increase is less than last year. I-S-U’s Rabail Chandio oversees the survey, and says the average price for an acre is $11,835.
The single digit increase comes after two straight years where land values went up by double-digits.
She says the current land value trend appears to be following what happened about ten years ago when land values rose, and then there were minor adjustments without a crash in the market.
Chandio says the slowdown led to one of the nine land districts seeing a drop in overall values for the first time in several years.
Chandio says it appears the southern district was lagging a little behind the others in their increases, and that could be why they are showing the higher values in this report.
In Kossuth County, average land values went up nearly $200 to $13,754 an acre in 2023. Emmet County was the only county in the area that saw a decrease in land values in 2023, dropping an average of $49.
