Iowa farmland brings in $23,700 per acre

Here’s a quick look at five farmland transactions that transpired in 2023 across Iowa, Missouri, and Illinois. Prices ranged from $18,500 to $23,700 per acre. 

39.4 acres in Sioux County, Iowa

Date: Nov. 21, 2023  

Sale price: $23,700 per acre

Corn Suitability Rating (CSR2): 90.1

Located five miles north of Orange City, a 39.4-acre cropland farm with 38.8 tillable acres sold at $267 per CSR2. This property was located near several grain elevators, which made it an attractive location for an add-on tract to any farming operation.

57.4 acres in Harrison County, Iowa

Date: Nov. 13, 2023

Sale price: $22,500 per acre

CSR2: 90.4

On the outskirts of Dunlap in Harrison County, Iowa, three tracts were sold at public auction. Tract 1 was a flat, 57.4-acre cropland farm with Kennebec and Dockery-Quiver silt loam soils and a CSR2 of 90.4. This tract brought the highest per acre at $22,500 or $249 per CSR2. Tract 2 was a bit more cut up, but was also a flat 54-acre farm with Kennebec and Dockery-Quiver silt loam soils and a CSR2 of 90. This brought in a higher price per CSR2 at $254 and $20,900 per acre. Tract 3 of this auction was a 172.64-acre farm with cropland and recreational opportunities, selling for $14,000 per acre.

95 acres in Carroll County, Missouri

Sale price: $20,000 per acre

Date: Nov. 17, 2023

Along the Missouri River in western Carroll County, a 692-acre cropland farm sold in four tracts. Tracts 1 (120 acres) and 2 (95 acres) were both located in levee districts with a low chance of flooding. Tract 3 (436.4 acres) had private levee protection with a slight risk of flooding and featured a headquarters building site. Tract 4 (40 acres) was not levee-protected and had the greatest risk of flooding. Tract 1 sold for $11,200 per acre, tract 2 for a whopping $20,000 per acre, tract 3 for $9,500 per acre, and tract 4 for $8,800 per acre.

53 acres in McDonough County, Illinois 

Sale price: $18,500 per acre 

Date: Nov. 21, 2023

National Commodity Crop Productivity Index (NCCPI): 142.3

A 106-acre cropland farm located 8 miles west of Bushnell sold at public auction. While both tracts sold well, tract 1 took the high bid with 53 acres selling for $18,500 per acre. That tract was 100% tillable with primarily Sable and Osco soils. Tract 2 was also entirely tillable and included 53 acres of Osco and Sable soils with an NCCPI of 141.6, selling for $15,900 per acre.

Two 80.4-acre tracts in Warren County, Illinois

Sale price: $22,700 per acre 

Date: Nov. 10, 2023

Productivity Index (PI): 144.7

Within five days of each other, Warren County, Illinois, had two large auctions. On Nov. 10, two 80.4-acre tracts were offered, selling together for $22,700 per acre. The farm featured Sable and Muscatine silt loam at a 2% slope. The second sale had a total of five tracts, four of which were cropland with the top tract selling for $20,200 an acre.

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.