A survey shows that Iowa farmland values have increased since March. | Pixabay
A survey shows that Iowa farmland values have increased since March. | Pixabay
A semi-annual survey was performed by real estate agents, and it showed how rapidly the farmland values are climbing up in Iowa. Over the period of past six months, the tillable farmland value in Iowa has risen by 18.8%, Successful Farming reported.
"The value of Iowa cropland jumped nearly 19% between March and September of this year, according to the most recent survey of farmland professionals conducted by the Iowa Chapter of the Realtors Land Institute." Twitter user Esteban Moscariello tweeted Oct. 1.
The Iowa Chapter of the Realtors Land Institute surveys its members twice a year, Successful Farming reported.
In March, the average value per acre was $10,221, the Associated Press reported. As of Oct. 2, the state's average value per acre is $12,182. Some of the major contributors to this rise are favorable commodity prices, low interest rates and people's expectations of "fairly good" crop yields in the fall, according to Realtors Land Institute officials.
The year-over-year increase totaled 26.6% in Iowa, the AP reported. Two other survey reports, one by Farm Credit Services of America and The Chicago Federal Reserve Bank of Chicago's August farmland survey, support the results shown by Realtors Land Institute, Successful Farming reported.
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