Nebraska Ag Land Values Increase For First Time Since 2014

LINCOLN-(Mar. 11)-Nebraska agricultural land increased 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.

The results mark the first year-to-year increase since land values in the state peaked at $3,315 in 2014.

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 Farm Real Estate Market Survey is an annual survey of land professionals, including appraisers, farm and ranch managers, and agricultural bankers. Results from the survey are divided by land class and agricultural statistic districts. Land values and rental rates presented in the report are averages of survey participants’ responses by district. Actual land values and rental rates may vary depending upon the quality of the parcel and local market for an area. Preliminary land values and rental rates are subject to change as additional surveys are returned.