Dr. Michael Duffy, Iowa State University Extension Economist

Dr. Michael Duffy, Iowa State University Extension Economist

Iowa Land Value Survey2011

Statewide Average

$6,708up 32.5%up $1,644

High Grade Land

$8,198up 34.2%up $2,090

Medium Grade Land

$6,256up 31.5%up $1,498

Low Grade Land

$4,257up 26.8%up $900

Northwest

$8,338up 2.8%up $83

high $9,649med $7,708low $5,196

up 31.2%up $1983

North Central

$7,356up 28.0%up $1,610

high $8,601med $6,713low $4,900

Northeast

$6,602up 31.5%up $1,580

high $7,994med $6,290low $4,352

West Central

$7,419up 35.7%up $1,954

high $8,889med $6,981low $4,766

Central

$7,781up 31.9%up $1,880

high $9,332med $7,029low $4,848

East Central

$7,110up 30.5%up $1,664

high $8,675med $6,510low $4,671

Southwest

$5,905up 36.5%up $1,579

high $7,418med $5,553low $3,824

South Central

$3,407up 26.7%up $718

high $5,109med $3,353low $1,984

Southeast

$5,705up 32.8%up $1,409

high $7,721med $5,468low $3,335

AVERAGE VALUESall grades 1950−2011

19501954

19581962

19661970

19741978

19821986

19901994

19982002

20062010

$-

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

PERCENTAGE CHANGE from previous year, 1950−2011

%

%

%

%

%

%

%

%1950

19521954

19561958

19601962

19641966

19681970

19721974

19761978

19801982

19841986

19881990

19921994

19961998

20002002

20042006

20082010

-35

-25

-15

-5

5

15

25

35

AVERAGE VALUESadjusted for inflation

19501954

19581962

19661970

19741978

19821986

19901994

19982002

20062010

$-

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

PERCENTAGE CHANGE adjusted for inflation

19501952

19541956

19581960

19621964

19661968

19701972

19741976

19781980

19821984

19861988

19901992

19941996

19982000

20022004

20062008

2010-35.0%

-25.0%

-15.0%

-5.0%

5.0%

15.0%

25.0%

35.0%

Chart Title

2011 AVERAGE VALUES

PERCENTAGE CHANGE

POSITIVE FACTORSaffecting land values

Commodity Prices

Interest Rates Best available investment

Yields Good farm economy

Money available0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

86%

62%

14% 14% 13% 11%

NEGATIVE FACTORS affecting land values

Land pric

es too high

High input c

osts

Global eco

nomic co

nditions

Risk/v

olitality

in agric

ulture

Weath

er

US economic

conditions

Land Availa

bility

0%

5%

10%

15%

20%

25%

30%

35%

31%

25% 24%

19%

13% 12% 11%

WHO PURCHASED farmland

Investors 22%

Existing Farmers

74%

New Farmers 3%

Others1%

WHO PURCHASED farmland

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Farmers Investors New Farmers Other

SALES ACTIVITYrelative to previous year

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

0%

10%

20%

30%

40%

50%

60%

70%

More Less Same

sales activity from previous yearCHANGE IN

SUMMARY• 32.5% is highest percentage increase

ever reported

• $6,708 is all-time high inflation adjusted average value

• An interesting time, many factors to watch

• Not a time to panic

For more information, visitwww.extension.iastate.edu/topic/landvalue