RLI Iowa Chapter Announces Results of September 2022 Land Trends and Values Survey
The REALTORS® Land Institute - Iowa Chapter announced the results of our September 2022 Land Trends and Values Survey. Participants in the survey are specialists in farmland and are asked for their opinions about the current status of the Iowa farmland market. Survey participants were also asked to estimate the average value of farmland as of September 1, 2022. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information.
The results of the September survey show a 2.8% increase on a statewide average for the March 2022 to September 2022 time period. This is following the September 2021 to March 2022 time period that showed a 14.1% increase, giving us a year-over-year increase of 16.9% for the State of Iowa. After double-digit increases the last two surveys, the market appears to be leveling off. Rising interest rates and higher input prices for the 2023 crop are making it increasingly difficult for the market to support higher land values.
The range of survey results by Crop Reporting District went from unchanged in North Central to the largest increase of 4.6% in the South Central District. Timber and Pasture acres showed slight gains as well with a 3.9% increase in Timberland values and a 3.1% increase in Pastureland values across the state.
REALTORS® Land Institute – Iowa Chapter’s farmland value survey has been conducted in March and September since 1978. For more information go to www.rlifarmandranch.com.
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