Farmland Values Are Leveling Off in Dubuque and the Tri-States

Here’s the deal: I grew up on a farm, but sometimes the lingo still escapes me. When that happens, it’s easy to miss out on information that actually matters: especially in an agriculture-heavy region like ours. The Tri-State area and the Midwest as a whole do a lot of the heavy lifting when it comes to agriculture: hogs, cattle, corn, soybeans, and everything in between. So, when there’s news about farmland values, it’s worth breaking it down in plain English for everyone, because trust me it affects you more than you may know.

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According to Farmers National Company’s January 2026 Regional Land Values Report, the farmland market is entering a new phase. After several years of steady price increases, land values are leveling off. That doesn’t mean prices are crashing, it simply means the market is catching its breath. Hopefully this slight pause won't lead to stagnation.

The report comes from Farmers National Company, one of the country’s largest land management and real estate firms, with insight from Colton Lacina, the company’s senior vice president of real estate operations, along with regional land experts across the Midwest.

So what’s happening? In short, buyers are being more careful. Lower commodity prices, higher input costs, and tighter profit margins have farmers and investors taking a closer look before they commit. Land is still valuable, but it has to make sense financially as farmers look to cut their risks.

It’s a lot like renting more ground. A farmer might want to add acres, but before signing the lease, they’re looking hard at seed costs, fertilizer prices, fuel, and what the crop might actually bring at market. If the numbers don’t add up, they're passing, even if they liked the farm.

Here’s how that plays out locally. In Iowa, high-quality farms continue to sell well, but lower-quality ground is often sitting longer or failing to meet seller expectations. Fewer farmers are wanting ground for CRP. In Illinois, farmland values softened slightly in late 2025, the first dip in several years. That's largely due to cautious bidding and more price sensitivity. Wisconsin is seeing mixed results, with productive farmland holding strong while properties with more non-tillable acres face softer demand; this is a real issue in our hillier, craggier section of driftless Wisconsin.

Across the Tri-State area, the takeaway is simple: location and quality matter more than ever. Good ground still brings interest. Marginal ground will need realistic pricing to move. Whether you’re buying, selling, or just paying attention, understanding what’s happening close to home is key. Land values, taxes, and every day expenses shape how our wallets will look tomorrow.