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2018 Iowa State University Land Value Survey: Overview

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Abstract

Farmland represents over 80 percent of all U.S. farm assets, and is arguably often a farmer's single largest investment item, a major source of collateral, and a key component of the farmer's debt portfolio. Since 1950, the Iowa State University Land Value Survey has been the only data source that provides a county-level land value estimate for each of the 99 counties in Iowa. The 2018 Iowa State University Land Value Survey reported a 0.8 percent decrease to $7,264 per acre in average Iowa farmland values from November 2017 to November 2018. This modest drop is the fourth decline in Iowa farmland values over the past five years and represents a 17 percent decline from the 2013 peak in nominal land values, or a 24 percent drop in inflation-adjusted values. The recent decline is largely attributable to lower commodity prices, higher interest rates, and to some extent the trade disruptions. On the other hand, the magnitude of this decline is still very modest and overall the land market is largely stable. In general, the results from the 2018 Iowa State University Land Value Survey echo results from other surveys, which all showed relatively stable farmland market trends. Key Words: Land Values, Iowa, Land Ownership, Interest Rate, Farm Income, Ag Credit, Commodity Prices, Expert Opinion Survey JEL Codes: Q15, Q13, Q14, Q18 Citation suggestion: Zhang, W. 2018. "2018 Iowa State University Land Value Survey: Overview." Iowa State University Extension and Outreach, CARD working paper #18-WP 586.

Suggested Citation

  • Wendong Zhang, 2018. "2018 Iowa State University Land Value Survey: Overview," Center for Agricultural and Rural Development (CARD) Publications 18-wp586, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:18-wp586
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    Citations

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    Cited by:

    1. Edward J. Balistreri & Wendong Zhang & John Beghin, 2020. "The State-level Burden of the Trade War: Interactions between the Market Facilitation Program and Tariffs," Center for Agricultural and Rural Development (CARD) Publications apr-winter-2020-1, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Jerome Dumortier & Amani Elobeid, 2020. "Implications of a US Carbon Tax on Agricultural Markets and GHG Emissions from Land-use Change," Center for Agricultural and Rural Development (CARD) Publications apr-winter-2020-4, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    3. Chad Hart & Lee L. Schulz, 2020. "The Phase One Trade Deal: Projections and Implications," Center for Agricultural and Rural Development (CARD) Publications apr-winter-2020-3, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    4. Alejandro Plastina, 2020. "New Farm Bill, New Decisions, New Tools," Center for Agricultural and Rural Development (CARD) Publications apr-winter-2020-2, Center for Agricultural and Rural Development (CARD) at Iowa State University.

    More about this item

    Keywords

    land values; iowa; land ownership; interest rate; farm income; ag credit; commodity prices; expert opinion survey jel codes: q15; q13; q14; q18 citation suggestion: zhang; w. 2018. "; 2018 iowa state university land value survey: overview."; iowa state university extension and outreach; card working paper #18-wp 586.;
    All these keywords.

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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