IA Farmland values increased by about 15% in 2010

Ag/Outdoor, News

August 4th, 2011 by Ric Hanson

Tom Olsen, Iowa State University Extension Farm Management Specialist, spoke to a
crowd of 48 area landowners, tenants and agriculture professionals during the
Farmland Leasing Meeting on Wednesday, August 3, 2011 at the Guthrie Activity Center
in Guthrie Center. Olsen presented current leasing information including the latest
land value survey and cash rent survey. The program was organized and sponsored by
the Guthrie County Extension Office.

Iowa farmland values increased by at least 15 percent during 2010.  ISU Extension
research indicates that the average age of farmland owners continues to rise.
Fifty-five percent of Iowa's farmland is owned by people over the age of 65, while
28 percent of the land is owned by individuals over age 75. The research found that
children and surviving spouses of farmers are less likely to continue operating the
farm themselves. That's a major reason why farmland leasing continues to increase.