Iowa farmland values rose 29.0% in one year—but that increase describes the Iowa State University survey estimate as of November 1, 2021, not today’s market. The survey put the statewide average at $9,751 per acre. Iowa State’s latest survey, released December 9, 2025, reported $11,549 per acre, up 0.7% from 2024 in nominal terms.
What the 29% figure measures
Iowa State University’s 2021 Land Value Survey estimated the average value of Iowa farmland at $9,751 per acre as of November 1, 2021, a 29.0% nominal increase from November 2020. The result was a record in nominal dollars and 12% above the previous nominal peak in 2013. Iowa State’s 2021 survey overview and survey results report those figures.
“Nominal” means the dollar amount is not adjusted for inflation. In 2015 dollars, the 2021 estimate was $8,367 per acre—21% higher than the inflation-adjusted 2020 estimate, but still below the inflation-adjusted values for 2012 and 2013. So the 2021 record applies to the unadjusted dollar value, not to purchasing-power-adjusted farmland values.
Why values climbed in 2021
The survey overview cited substantially higher commodity prices, low interest rates, stronger-than-expected crop yields, robust federal ad hoc payments and limited land supply as conditions supporting the increase, even as sales activity rose. These are the survey’s explanations of contributing conditions, not a measured breakdown of how much each factor added to the 29% gain.
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What the latest Iowa State survey says
The latest Iowa State survey located for this article is its 2025 survey, released December 9, 2025. It estimated statewide farmland at $11,549 per acre, an increase of 0.7%, or $83, from 2024. Adjusted for inflation, the estimate was $8,475 per acre in 2015 dollars, down 1.8%. The statewide picture was relatively stable, but county results varied. Iowa State’s 2025 survey page provides the statewide figures.
The 2025 overview attributed downward pressure to lower commodity prices, high interest rates, rising input costs and trade uncertainty. Limited supply, strong yields, available cash and credit, and demand supported values. It reported nominal declines in 39 of Iowa’s 99 counties, all below 5%; after inflation adjustment, values fell in 78 counties. Northeast (+4.1%), East Central (+3.4%) and Northwest (+2.9%) had the largest district increases, while North Central (-2.6%) and Central (-2.0%) had the largest decreases. These are survey estimates, not a count or summary of individual property sales. The 2025 overview includes the county and district comparisons.
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On small changes, Iowa State assistant professor and extension economist Rabail Chandio said: “Changes of that size often reflect variation across counties and crop reporting districts rather than a consistent statewide trend.” The university’s 2025 news release attributes the statement to Chandio.
How Iowa State estimates farmland values
The annual Iowa State Land Value Survey began in 1941 and estimates values for all 99 counties. It asks informed respondents—including licensed real estate brokers, farm managers, appraisers, agricultural lenders and selected knowledgeable individuals—to estimate the value of an average-sized farm in each county as of November 1. The 2025 survey category includes cropland, pasture, Conservation Reserve Program (CRP) land and timberland. Iowa State’s survey FAQ explains the methodology.
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Because it is an opinion survey, its average is not a census of completed transactions, an appraisal of a particular parcel or a guaranteed sale price. A specific farm’s value can differ with location, land quality and other property characteristics. Use the statewide figure as a broad indicator, not as a substitute for parcel-level valuation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare farmland-value figures
Before drawing conclusions from two estimates, check that they refer to comparable measurements:
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- Date: Distinguish the date the value is estimated from the year a survey is released. The 2021 figure is an estimate as of November 1, 2021.
- Dollar basis: Separate nominal dollars from inflation-adjusted values, and note the adjustment’s base year. Iowa State presents inflation-adjusted comparisons in 2015 dollars.
- Geography and land category: A statewide average is not a county estimate, district result, land-quality category or parcel valuation.
- Method and definition: Iowa State’s respondent estimates are not directly interchangeable with other series. For example, USDA asks producers about the current market value of land they operate, while Iowa State asks for a typical county average. Respondent groups and definitions also differ among Iowa State, USDA, the Chicago Fed and REALTORS Land Institute.
- Evidence type: A survey estimate and a recorded auction or sale price answer different questions; one should not be presented as the other.
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