Iowa cropland values increase, but may level off soon

MUSCATINE, Iowa (KCRG) - The Iowa Farm and Land Chapter #2 Realtors Land Institute reported a 2.8% increase in cropland values on a statewide average for the Marc 2022 to September 2022 time period.

In our East Central district of Iowa, high-quality cropland is selling at $16,182 per acre, or at the second highest rate in the state. This is up slightly from the value reported in March 2022. Timber is selling at an average of $4,246per acre.

But experts say the rising interest rates and input prices for the 2023 crop will make it difficult for the market to support higher land values.

“The survey just confirms my feelings that the rapid rise in land values is slowing. The rapid rise in interest rates and crop input costs are certainly a large factor in this.” said Eric Schlutz, ALC, Realtor, and manager of the Ruhl & Ruhl Realtors Muscatine Office.

Values of farmland are estimated as followed as of September 1st, 2022:

High-Quality Crop Land

• Iowa East Central - $16,182 per acre
• Iowa Northeast - $14,964 per acre
• Iowa Southeast - $14,051 per acre

Medium-Quality Crop Land

• Iowa East Central - $12,703 per acre
• Iowa Northeast - $11,804 per acre
• Iowa Southeast - $9,956 per acre

Low-Quality Crop Land

• Iowa East Central - $9,143 per acre
• Iowa Northeast - $8,433 per acre
• Iowa Southeast - $6,368 per acre

% Change in Tillable Cropland

• Iowa East Central - +3.8%
• Iowa Northeast - +1.5%
• Iowa Southeast - +3.4%

Non-Tillable Pasture

• Iowa East Central -$4,282 per acre
• Iowa Northeast - $4,182 per acre
• Iowa Southeast - $3,888 per acre

Timber

• Iowa East Central - $4,246 per acre
• Iowa Northeast - $4,145 per acre
• Iowa Southeast - $3,373 per acre

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