The value of an acre of farmland in Delaware County has dropped slightly.
The latest survey from Iowa State University shows the county’s farmland is valued at $8,467 – down a little over a hundred dollars from last year’s value of $8,575.
But most other counties in Iowa saw farmland values go up, with the statewide average increasing by two-point-three percent to $7,432 an acre.
Wendong Zhang conducts the annual survey.
Zhang says low dairy prices hurt the land values in the northeast district. The northwest district reported the highest overall land values at $9,352 an acre, while the south-central district reported the lowest overall at $4,487 an acre. Scott County reported the highest land values at $10,837 an acre, with Decatur County reporting the lowest at $3,586. It’s the seventh straight year Scott and Decatur have been the top and bottom county.
Zhang says there are two things he is watching that could impact land values in the coming year.
Zhang says the rate cut would be more positive news for landowners.
story courtesy of Radio Iowa