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LAND VALUES<br />
Matt Heonig<br />
Peoples Company<br />
its pace in 2023,<br />
values are still<br />
strong, particularly<br />
for high-quality<br />
ground, experts<br />
agreed.<br />
“If it’s flat and<br />
black, there is still<br />
potential to set<br />
those new land<br />
records,” Hoenig<br />
said.<br />
Many of the<br />
factors behind the<br />
large surge in Iowa land values in 2022<br />
supported the increase in 2023 as well,<br />
said Rabail Chandio, an agricultural<br />
economist at Iowa State University.<br />
“Interest rates were lower through the<br />
first half of the year, commodity prices<br />
were still elevated, crop yields were a<br />
positive surprise despite the weather<br />
challenges throughout the growing season,<br />
cash and credit availability remained<br />
Riley Sieren<br />
Peoples Company<br />
ample and allowed<br />
farmers to stay<br />
aggressive in the<br />
land market, and<br />
investor demand<br />
grew stronger<br />
nudged by inflation<br />
concerns and lack<br />
of alternative investment<br />
options,”<br />
said Chandio, who<br />
presented the Center<br />
for Agricultural<br />
and Rural Development<br />
(CARD) annual land values survey<br />
results at the end of last year.<br />
The value of farmland in Eastern Iowa,<br />
including Cedar, Johnson, Muscatine<br />
and Scott counties, increased 0.7% to an<br />
average price of $12,678. Louisa County,<br />
which is part of the south east reporting<br />
district, saw the biggest jump in the state,<br />
“If it’s flat and<br />
black, there is still<br />
potential to set<br />
those new land<br />
records.”<br />
— MATT HOENING<br />
LET US FIX IT<br />
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eifarmer.com SPRING 2024 | EASTERN IOWA FARMER 71
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