Iowa State University Extension Economist Iowa Land Value Survey 2013 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

$10,960 Northwest high $12,824 med $9,918 up 2.8% low $6,845 up $83 down 3.9% down $445

$9,818 North Central high $11,159 med $8,824 up 2.7% low $6,421

Northeast $9,161 high $11,423 med $8,573 low $5,670 up 7.5% up $638

West Central $9,449 high $11,591 med $8,725 low $5,926 up 2.5% up $233

Central $9,877 high $11,803 med $8,930 low $5,918 up 5.5% up $512

$9,327 East Central high $11,631 med $8,567 up 10.8% low $5,449

Southwest $7,531 high $9,591 med $7,137 low $4,592 up 7.4% up $517

$4,791 South Central high $7,150 med $4,715 up 11.2% low $2,843

Southeast $6,994 high $9,785 med $6,605 low $3,651 up 13.3% up $822

AVERAGE VALUES all grades 1950−2013

PERCENTAGE CHANGE from previous year, 1951−2013

AVERAGE VALUES adjusted for inflation

PERCENTAGE CHANGE adjusted for inflation

2013 AVERAGE VALUES

PERCENTAGE CHANGE

POSITIVE FACTORS affecting land values

NEGATIVE FACTORS affecting land values

WHO PURCHASED farmland

WHO PURCHASED farmland

SALES ACTIVITY relative to previous year

CHANGE IN sales activity from previous year More – 16% Less – 53% Same – 31% More – 9% Less – 59% Same – 33% More – 20% Less – 43% Same – 37% More – 20% Less – 45% Same – 35% More – 18% Less – 40% Same – 41% More – 15% Less – 47% Same – 38% More – 8% Less – 71% Same – 20% More – 16% Less – 48% Same – 36% 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