The new survey by Iowa State University Extension shows a slight increase in the average farmland value after three straight years of declines.
Iowa State University economist Wendong Zhang says a limited supply of available farmland is the main reason for the two percent increase in land values as the farm economy remains sluggish. The average statewide value of an acre of farmland is estimated at $7,236 or $143 more for an acre compared to last year. Commodity prices remain low and Zhang says a full recovery of the ag economy will take some time.
Land values in area counties showed modest increases… in Buena Vista County, up 1.9-percent to $9,171. In Sac County, up 1.6-percent to $9,005. In Ida County, up one percent to $8,256… and in Pocahontas County, up 2.7-percent to $8,616.