A new government report finds the average price to rent Iowa farmland has gone up slightly this year.
According to the USDA.’s Agricultural Statistics Service, rental rates are averaging $260 an acre in Iowa this year for corn and soybean ground. That’s about five bucks an acre higher than last year. The most expensive farmland in the state is in Grundy County, where the average rental rate is $322 an acre. The cheapest is in Appanoose County, where rent was $149 per acre on average. Find the stats for all 99 Iowa counties here
The USDA report concludes the average price to rent pasture land in Iowa is $50 an acre.
An Iowa State University Extension survey released in April concluded farmland rental prices statewide had declined “moderately” from 2013. It was the first reported decrease in rental rates for corn and soybean fields since 1999. A retired ISU economist said the decrease was due to lower commodity prices for the crops that will be grown on that rented ground.
The ISU and USDA reports did find the same average rate of $260 an acre for row crop rentals.