March 2022 Iowa Farmland Values
Iowa farmland values continued their strong upward trend in early 2022, according to the REALTORS® Land Institute (RLI) Iowa Chapter’s March 2022 Land Trends and Values Survey. The results show a 14.1% statewide increase in farmland values from September 2021 to March 2022.
This increase follows an 18.8% gain from March 2021 to September 2021, resulting in a 32.9% year-over-year increase in Iowa farmland values. These gains reflect continued demand for quality farmland across the state.
March 2022 RLI Iowa Farmland Value Survey Results
The REALTORS® Land Institute – Iowa Chapter surveyed farmland specialists to estimate the average value of farmland as of March 1, 2022. Estimates reflect bare, unimproved land sold on a cash basis. Pastureland and timberland values were collected as supplemental information.
- Cropland values increased 14.1% statewide
- Pastureland values rose 12.3%
- Timberland values increased 11.2%
These results are consistent with record farmland auction prices being reported throughout many Iowa counties.
Factors Driving Iowa Farmland Values Higher
Survey respondents identified several key drivers influencing Iowa farmland values:
- Strong commodity prices (primary factor)
- Low interest rate environment
- Limited supply of farmland available for sale
The buyer composition for Iowa farmland includes:
- 65% Farmers
- 19% Local Investors
- 16% Non-Local Investors
Comparison to Iowa State University Farmland Data
Iowa State University reported an approximate 29% year-over-year increase in Iowa farmland values, supporting the strong growth reflected in the RLI survey.
About the RLI Iowa Land Trends & Values Survey
The REALTORS® Land Institute – Iowa Chapter has conducted its Land Trends and Values Survey every March and September since 1978. The survey is completed by professionals who specialize in farmland sales, management, appraisal, and development.
In addition to the survey, the RLI Farm and Ranch Multiple Listing Service provides valuable insight into Iowa farmland market activity.
Thinking About Selling Iowa Farmland?
With Iowa farmland values reaching historic levels, many landowners are considering their options.
Learn more about selling your farmland here
David Whitaker – Iowa Land Guy
