News

UNL Survey Shows Nebraska Land Values Up for First Time Since 2014

Preliminary Results

The full report is expected to be published in early June Nebraska agricultural land values increased by 3% over the last year, to a statewide average of $2,650 per acre, according to preliminary results from the University of Nebraska-Lincoln’s Farm Real Estate Market Survey. This marks the first year-to-year increase since land values in the state peaked at $3,315 per acre in 2014.

Preliminary Results PDF

Highlights

  • Survey participants reported that economic forces providing
    stability in the market included the limited supply of land for sale,
    strong demand for purchases and disaster assistance payments over the
    last year.
  • Estimated dryland cropland values in the state rose between
    3% and 4%, while the values of gravity and center pivot irrigated
    cropland rose 2% and 3%, respectively. However, the Northwest and
    Southwest Districts saw declines between 2% and 5% for the two land
    classes.
  • Grazing land and hayland value estimates also rose between
    2% and 5% over the last year, with slight declines in two districts.
    Major cow-calf pair regions, including the Northwest, North and Central
    Districts, led the increase in market values, with growth between 6% and
    8%.
  • The survey also revealed a high degree of concern between many
    landlords and tenants when working to agree on an equitable rental rate,
    generally attributed to landlords facing high property taxes and
    producers facing low commodity prices.

Values by Region

Map of Nebraska depicting Average Value of Nebraska Farmland, February 1, 2020 and Percent Change From Year Earlier
Land Type $/Acre %Change
All Land Average 2,730 3
Center Pivot Irrigated Cropland 6,120 3
Gravity Irrigated Cropland 5,780 2
Dryland Cropland (Irrigation Potential) 4,140 3
Dryland Cropland (No Irrigation Potential) 3,165 4
Grazing Land (Tillable) 1250 5
Grazing Land (Nontillable) 830 4
Hayland 1,645 2

Source: University of Nebraska CropWatch

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