Iowa farmland brings over $26,000 per acre

Here’s a quick look at five farmland transactions that transpired in December 2023 across the Midwest. Prices ranged from $15,300 to $26,200 per acre. 

43.6 acres in Boone and Polk counties, Iowa

Date: Dec. 20, 2023

Sale price: $26,200 

Three tracts located just south of Madrid, Iowa, were brought to public auction in late December. Sold via the buyer’s choice auction method, tract 1 was the first to sell, at 43.6 acres for $26,200 per acre. Future development opportunities helped bring in the final price. Tracts 2 and 3 were sold for $15,900 per acre. All three tracts were highly tillable, with strong Corn Suitability Rating Index (CSR2)values.

40 acres in Douglas County, Illinois

Date: Dec. 14, 2023

Sale price: $24,150 per acre

Productivity Index (PI): 141.3

Located 1.5 miles east of Tuscola, Illinois, 120 acres were sold at public auction in two separate tracts. Tract 1 consisted of 80 acres that were 99% tillable, with a PI of 139.4, selling for $22,500 per acre. Tract 2 consisted of 40 acres that were also 99% tillable, with a PI of 141.3, bringing $24,150 per acre.

77.8 acres in Butler County, Iowa

Date: Dec. 1, 2023

Sale price: $21,000 per acre

CSR2: 86.4

Located just east of Allison, Iowa, this tract was 99% tillable, well tiled, and boasted a large field drive accessing Highway 3. The CSR2 on the tract came in at $243 per point.

165.4 acres in Renville County, Minnesota

Date: Dec. 21, 2023

Sale price: $17,136

Crop Productivity Index (CPI): 94.3 and 92.3

Both tracts in this public auction were 82.7 acres, selling for $16,800 per acre with a 2% buyer’s premium, putting the sale price up to $17,136 per acre. Tract 1 was 99% tillable, with a CPI of 94.3, and tract 2 was also 99% tillable, with a CPI of 92.3.

77 acres in Lincoln County, South Dakota

Date: Dec. 6, 2023

Sale price: $17,000

PI: 76.8

This 98% tillable tract is located 4.5 miles north of Canton, South Dakota, and just a few miles from the Iowa-South Dakota border along Lyon County, Iowa. With marketing opportunities in both states, the location made the farm an ideal investment opportunity or addition to a farming operation. 

118 acres in Lafayette County, Missouri

Date: Dec. 11, 2023

Sale price: $15,300

National Commodity Crop Productivity Index (NCCPI): 82.7

Located between Dover and Waverly, Missouri, and a few miles south of the Missouri River, this 118-acre tract, with 101.7 tillable acres, sold at public auction in December. Yield history showed strong corn and soybean yields of 228 bushels per acre and 67 bushels per acre, respectively.

Produced in partnership with American Farmland Owner (AFO). AFO aims to help landowners make informed decisions for their farmland while ensuring the prosperity of American agriculture.