AMES, Iowa – Some of the most expensive farmland in Iowa is in Scott County.
The value of Iowa acres continues to soar and are reaching the highest levels ever.
Iowa State University’s annual Land Value Survey shows the average acre is up 24% in value over last year. That’s a 64% spike in the past three years.
The Iowa State survey found the most expensive acres in eastern Iowa are in Scott County where the average price per acre is just over $11,000. Only far northwest Iowa saw a higher average price.
Prices in other area counties are near the state average:
SCOTT COUNTY $11,039 per acre
MUSCATINE COUNTY $8112 per acre
LOUISA COUNTY $7681 per acre
CLINTON COUNTY $7246 per acre
DES MOINES COUNTY $7237 per acre
JACKSON COUNTY $7003 per acre
Iowa State economist Mike Duffy says that growth is not sustainable for much longer. But he says he’s not sure if the bubble will burst or if land prices will just settle at the higher plateau.
The average price for an acre of Iowa farmland is now almost $8300 an acre.