The latest information regarding land values in Iowa show a major increase and Jim Jenson, ISU Extension Farm Management Specialist says the average value of farmland in the entire state of Iowa has reached an historic level. The average value of farmland last year in Iowa was just over $5000 and this year the value has reached over $6700, an increase of 32 and a half percent. Jensen says the major factors for the increase are the higher prices for corn and soybeans as well as low interest rates in the last year.
The average rate in Washington County increased 28.2 percent resulting in a value of almost $7200. Jensen notes the rate for higher quality ground is increasing at a faster rate than lower quality ground across the entire state. To see more information about the land values, look here.