USDA farmland values show Iowa up 1.9 percent, Illinois down

DES MOINES, Iowa (AP) — The latest farm real estate values are out and the U.S. Department of Agriculture says the average acre of farmland in Iowa rose 1.9 percent from a year ago to $8,000 an acre, returning to the same value posted in 2015.

Iowa is the only state in the five-state corn belt region which also includes Illinois, Indiana, Missouri and Ohio to see an increase in value. The USDA’s farm real estate value includes all land and buildings on farms. The report was released Thursday.

Midwest farmland values fell or leveled off in many states from 2015 to 2016 but Minnesota, Wisconsin and North Dakota also saw increases this year.

Illionissaw a 1.4 percent decrease to $7,300 an acre.

The national average is up 2.3 percent to $3,080 an acre.