In a tough year for farmers with delayed planting due to heavy rains and farm bankruptcies at their highest level since 2011, farmland value in Iowa grew 2.3%. According to Iowa State University, that increase is due to favorable interest rates, strong yields, and limited land supply. Statewide, the value of an acre of farmland is now estimated to be $7,432. However, that increase barely exceeds inflation.

The largest percent increase was seen in Boone and Story counties with a 5.4% increase. There were 17 counties that saw a decline in land values, the lowest of which were in Clay and Allamakee counties at a 2.2% loss. In the last year, Washington County’s value rose to $8,593, a 4.9% increase.