Iowa farmland values again rise sharply

As commodity prices remain strong and farmers have cash to buy additional land, Iowa farmland values continue to post double-digit gains.

The value of good quality Iowa farmland soared 10.8 percent to an average $9,480 per acre over the last six months, according to data  released Thursday by the Iowa Farm and Land Chapter No. 2 of the Realtors Land Institute. Combined with a 12.8 percent increase between March 1, 2011, and Sept. 1, 2011, the average price of an acre of good Iowa farmland has soared 23.7 percent between March 1, 2011, and March 1, 2012.

The average value of good quality farmland in northwest Iowa rose 11.6 percent to $10,656 per acre between Sept. 1, 2011, and March 1, 2012. In east central Iowa, the value of an average acre of good farmland for corn production rose 9.4 percent to $9,480 over the last six months.

All nine Iowa crop reporting districts showed an increase.

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