Land Values

Illinois farmland values increased 20% in the first half of 2021, marking only the fourth time there has been this size of positive change in values since 1970.

Farmland values have strengthened over the past 12 months, said F. Howard Halderman, president of Halderman Real Estate and Farm Management.

The past 18 months have been a roller-coaster in the ag economy, and farmers are feeling the whiplash.

Corn Belt cropland average per acre values increased by 8.3% from 2020 to 2021, according to a survey by the U.S. Department of Agriculture’s National Agricultural Statistics Service.

Farmland prices across Indiana have risen to all-time highs, according to the Purdue Farmland Value and Cash Rents Survey, which has been conducted since 1974.

Prairie State-wide data found slight increases in farmland values across most soil types in 2020. The Illinois Society of Professional Farm Managers and Rural Appraisers released the findings of its comprehensive data at the annual Farmland Values Survey and Conference.