The downturn in the agriculture economy continues to impact the state with the latest evidence another drop in the price of farmland in the annual Iowa State University Extension survey. Wendong Zhang conducts the survey.
The three years of falling prices come after the peak in 2013 when it took 87-hundred-13 dollars ($8,713) to buy an average acre of land. Zhang says one key factor is driving the downward trend.
The most expensive farmland was in eastern Iowa’s Scott County at 10-thousand-335 dollars an acre. Two counties in northwest Iowa were right behind, with O’Brien County at 10-thousand-194 dollars and Sioux County at 10-thousand-66 dollars an acre. The least expensive farmland was in Decatur County in south-central Iowa at three-thousand-443 dollars.
