News

Nebraska farmland values down three percent

Nebraska ag land values declined by three percent over the last year, according to preliminary results from the UNL Farm Real Estate Market Survey.

The statewide average is 2,650 dollars per acre, down nearly 20 percent from the peak in 2014. Values range from 8,455 for center pivot irrigated cropland in eastern Nebraska to 415 for non-tillable grazing land in northwest Nebraska.

Grazing land experienced the greatest decline in values, at four percent, led by steep drops in the central district of the state. While statewide values declined for all types of land, a small number of areas saw an increase. Most notable was the 6-percent increase in hayland values in the eastern district of Nebraska.

With a few exceptions, rental rates were also down, led by a ten percent drop in center pivot irrigated cropland in the north district.

Survey respondents indicated trade and property tax policies were two of the largest factors contributing to the decline in land values.