The annual Iowa State University survey on farmland values in Iowa has good news again. I-S-U economist Michael Duffy directs the survey and says the values increased three-point-seven percent, the second straight increase. The average value of an acre of land increased to 19-hundred-and-26 dollars. Farmland hit its highest value in 1981 at two-thousand-147 dollars an acre. Duffy says land values went up in all 99 Iowa counties.Southwest Iowa saw the largest increase in value, driven by investor demand. Duffy says there were a couple of notable changes in land value.The average value for “low quality” land hit the highest level ever, while the average value of land in southwest Iowa exceeded the one thousand dollar an acre figure for the first time in 20 years. Duffy says the low quality land appeared to be more appealing to investors, because they could get more acres for their buck.He says the low quality land is seen as a better investment for people looking for scenic land. Duffy says low interest rates drove a lot of the increase in the value of land as people bought more land for business and pleasure.Fremont, Mills, Montgomery and Page counties in southwest Iowa, along with Jones and Scott counties in eastern Iowa saw the largest increase in value at seven-point-one percent. Dickinson, Lyon, O’Brien and Osceola counties in northwest Iowa saw the lowest increase at one-point-two percent. For a complete listing of the survey, surf to:www.extension.iastate.edu/.
Iowa's Radio News Network
