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Cedar Rapids, Iowa 52401
Farmland value in Iowa rose by 7.8 percent between September 2020 and March 2021, according to a new survey from the Realtors Land Institute's Iowa chapter.
The survey asked farmland experts their opinions on the 'current status of the Iowa farmland market.”
Troy Louwagie from Hertz Real Estate Services in Mount Vernon said low interest rates, government support, relatively few farms for sale and concerns about inflation led to the 'pretty large jump.”
'Over history, we have not seen those types of increases,” Louwagie said.
'I could see it leveling out a little bit more going into this summer.”
Iowa's east-central region experienced a 7.3 percent increase, according to the RLI survey.
Louwagie said the relatively lower increase could 'possibly” be the result of the derecho.
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