Group estimates Iowa crop land at $11,515 an acre
April 29th, 2013 by Ric Hanson
DES MOINES, Iowa (AP) — A real estate agents group estimates high quality crop land in Iowa is worth $11,515 an acre. The Realtors Land Institute, made up of people specializing in farm and land sales, management and appraisal, say the average value is up 9.4 percent from September 2012. The Des Moines Register reports northwest Iowa had the most expensive land, at $13,387 an acre.
Those surveyed were asked to estimate average values as of March 2013. The soaring prices are due largely to high prices for commodities, such as corn and soybeans, that have put farmers in position to buy land as well as low interest rates.