Rental rates decrease at slower rates than property value

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CEDAR RAPIDS, Iowa (KCRG) - Iowa's county cash rent and land value details are out from the USDA's National Agriculture Statistics Service.

Cash rents have fallen on average since 2017, but only by a dollar, now at $230 per acre. The highest cash rent in the state was in Scott County at $277 dollars per acre, while Clarke County had the lowest at $136 per acre.

The average cash rent has fallen about 11% since its height in 2014, when it averaged $260 dollars an acre in Iowa.

But those rent rates have been falling at a much slower rate than property values. Iowa cropland value in 2019, averages $7,260 an acre, down $180 from 2017. Cropland prices also fell from a height in 2014, but by much more than rent, it went down 17%, from $8,750 dollars an acre.