A Look At Some Farms For Sale In Eastern Iowa [Gallery]
Land isn't cheap.
In fact according to Farms.com, on March 8th, a new 2022 record was set for farmland by the Whitaker Marketing Group.
The record: $23,000 for an acre of land.
In an article on the website, David Whitaker with Whitaker Marketing Group talked about the purchase.
There is a multitude of factors that impact farmland prices. Competitive bidding and utilizing the auction method of marketing is the way to sell your farmland in this market.
According to the USDA National Agricultural Statistics Service, there were 85,000 farms in Iowa in 2020. The total amount of land on these farms was 30.6 million.
We are also starting to see the price of this land go up.
Iowa State University Extension’s Farmland Value Survey recently reported a 29% increase to $9,751 per acre in average farmland values in Iowa. This is an increase of $2,192 from data released in November 2020.
All 99 counties in Iowa are seeing their highest land value since 1950. Allamakee and Clayton counties saw the largest percent increase in the state at 36.4%, while Keokuk County saw the lowest percent increase at 23.2%.
Up in Northeast Iowa, the average value per acre was $9,958, which is up $32.3% from 2020.
You can read more about the ISU land study here.
While this may sound discouraging, not all hope is lost.
If you're looking to buy land, there are some options for you out there. I went down a rabbit looking at what is available here in Eastern Iowa.
These plots are perfect if you're looking to extend your business, buy a new home, or even start a new operation.