The new Iowa State University Land Value Survey shows a small drop from last year. Iowa State University economist Wendong Zhang says values dropped just under one percent (.08)
Zhang says farmland prices peaked in 2013 at a just above 87-hundred dollars an acre ($8.716).
Zhang says he has been asked repeatedly in the last five years if there is a possibility of another collapse in values like was seen in the 1980’s. He says he is not concerned.
Scott and Decatur counties held onto the highest and lowest farmland value spots for the sixth straight year. Decatur County had a value of three-thousand-488 dollars ($3,488) an acre. That’s an increase of eight dollars. Scott County reported a value of ten-thousand-537 ($10,537) dollars, which was an increase of 40 dollars an acre.
