Hamilton County witnessed a 28.5 percent increase in its land value for 2021. The Iowa State University Land Value survey was released on Tuesday morning. The value soared to $11,821 per acre this year compared with $9,198 per acre in 2020. This is a change of $2,623 over the past year. Two of the reasons for the increase is due to surging ethanol demand and high commodity prices. Iowa State University associate professor of economics said that the increase this year is due to much stronger commodity prices thanks to higher exports,stronger than expected crop yields and strong ad hoc COVID-19 related government payments. The nominal value of an acre of farmland is now higher than at any point since Iowa State University began its survey in 1941. The average value of farm land in Iowa skyrocketed to 29 percent this year.
The average land values for surrounding counties in 2021 include Boone County at $11,177 per acre, Franklin at $10,406, Hardin County at $10,960, Story County at $11,467 per acre, Webster County at $11,323 per acre and Wright County at $11,535 per acre. There is more information at https://www.card.iastate.edu/farmland/isu-survey/2021/