USDA: Farmland Values Dip in 2016
DES MOINES, Iowa -- U.S. 2016 farmland values have dropped slightly from a year ago, according to the USDA.
In its latest figures of farmland values, the governmental agency estimates the average U.S. farmland at $3,010 per acre, a $10 per acre drop from 2015.
This is the first drop, since 2009, in average farm real estate values.
Around the Midwest, Kansas and Nebraska saw the biggest drops (7.4% and 3.3%) respectively in per acre value at $1,880 (KS) and $2,950 (NE).
Iowa’s per acre value dropped 1.9% at $7,850 vs. 2015. The report pegged the Illinois per acre loss at 1.3% totaling $7,400.
Indiana and Minnesota per acre land values remained unchanged.
In Oklahoma, land values jumped up the most at 5.9% and are now worth $1,800 per acre.