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2013. Iowa Land Value Survey. Dr. Michael Duffy, Iowa State University Extension Economist. Statewide Average. $8,716. up 5.1% up $420. High Grade Land. $10,828. up 6.3% up $646. Medium Grade Land. $ 8,047. up 3.5% up $ 274. Low Grade Land. $ 5,298. up 3.5% up $ 179. - PowerPoint PPT Presentation
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Dr. Michael Duffy, Iowa State University Extension Economist
Iowa Land Value Survey2013
Statewide Average
$8,716up 5.1%up $420
High Grade Land
$10,828up 6.3%up $646
Medium Grade Land
$8,047up 3.5%up $274
Low Grade Land
$5,298 up 3.5%up $179
Northwest
$10,960 up 2.8%up $83
high $12,824 med $9,918 low $6,845
down 3.9%down $445
North Central
$9,818 up 2.7%up $258
high $11,159 med $8,824 low $6,421
Northeast
$9,161 up 7.5%up $638
high $11,423 med $8,573 low $5,670
West Central
$9,449 up 2.5%up $233
high $11,591med $8,725low $5,926
Central
$9,877 up 5.5%up $512
high $11,803med $8,930low $5,918
East Central
$9,327up 10.8%up $906
high $11,631med $8,567low $5,449
Southwest
$7,531 up 7.4%up $517
high $9,591med $7,137low $4,592
South Central
$4,791 up 11.2%up $483
high $7,150med $4,715low $2,843
Southeast
$6,994 up 13.3%up $822
high $9,785med $6,605low $3,651
AVERAGE VALUESall grades 1950−2013
19501954
19581962
19661970
19741978
19821986
19901994
19982002
20062010
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
PERCENTAGE CHANGE from previous year, 1951−2013
-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 $9,000
$10,000
Inflation adj values
PERCENTAGE CHANGE adjusted for inflation
-35%
-25%
-15%
-5%
5%
15%
25%
35%
2013 AVERAGE VALUES
PERCENTAGE CHANGE
POSITIVE FACTORSaffecting land values
Intere
st ra
tes
Commodity pric
es
Good farm
economy
Land availa
bility
Cash availa
bleYields
Strong demand
-10%
0%
10%
20%
30%
40%
50%
60%
56%
37%
24%
15% 14% 13%11%
NEGATIVE FACTORS affecting land values
Low commodity prices
Weather Poor yields Govt programs Uncertainty Long term interest rates
0%
10%
20%
30%
40%
50%
60%
70%
80%
76%
21%
13% 11% 10% 10%
WHO PURCHASED farmland
Investors 18%
Existing Farmers
78%
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
2012
2013
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
2012
2013
0%
10%
20%
30%
40%
50%
60%
70%
More Less Same
sales activity from previous yearCHANGE IN
More – 9% Less – 59%Same – 33%
More – 16%Less – 53% Same – 31%
More – 16%Less – 48%Same – 36%
More – 8%Less – 71%Same – 20%
More – 20% Less – 45%Same – 35%
More – 18% Less – 40%Same – 41%
More – 15%Less – 47%Same – 38%
More – 20%Less – 43%Same – 37%
More – 19%Less – 29%Same – 52%
SUMMARY• 5.1% increase is 9th out of last 10 years
• Except for 2009 first single digit increase since 2003
• Rate of increase slowed throughout the year mimicking drop in crop prices
• NW Iowa showed actual declines in value
• Gross farm income will be the factor to watch for future directions
For more information, visit
www.extension.iastate.edu/topic/landvalue
