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Growers Edge Farmland Value Index: Q1 2025

How are farmland values trending in your county?

Until now, getting a clear answer to that question has been tricky, thanks to the difficulty in aggregating so many data points and the fact that reliable sources like the National Agricultural Statistics Service (NASS) release data only once per year.

The Growers Edge Farmland Value Index (GEFVI) aims to fill the gap and provide farmers, investors, and others near-real-time data on the current value of their land. In this report, we show the top and bottom five counties by farmland value in each state, as of Q4 2024.

To provide some context for those numbers, we also show the five-year farmland value trend by state, both according to our data and that published by NASS.

Our values differ slightly from NASS values, for several reasons:

  1. To calculate our index numbers, we use valuations of benchmark farms in every county we cover. These farms are hypothetical properties consisting of 80 acres in the county in question with the county’s average soil rating. NASS numbers, on the other hand, are based on surveys.
  2. We emulate the appraisal process, using actual sales to create valuations for our benchmark farms. (For example, the sale of a property with poor soil can still be used as a comp without tanking subject valuation because we adjust for soil rating).
  3. Our numbers are updated quarterly (and more often in some cases), whereas NASS data is updated only once per year.

Today, the Growers Edge Farmland Value Index includes roughly 1,200 benchmark farms, though we plan to expand that as we develop the index and expand into additional states.

What’s Driving Farmland Values in Q1 2025?

Entering 2025, high interest rates and low commodity prices are wearing on farmers’ overall economic wellbeing, though high demand for land is offering at least some resistance to those forces.

Still, farmland values are, in most cases, down from their peak (Wisconsin is the exception). Many experts, too, believe prices will come down further in 2025. Purdue’s latest Farmer Sentiment report reflects this reality: farmers are less optimistic about value growth in the short term than they are in the long term.

Read on for state-by-state trendlines over the last five years, along with each state’s top and bottom five counties by land value as of Q1 2025.

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Farmland Values by State and County

View the complete data set informing these highlights here. Scroll for the full report or jump to your state:

Illinois: Current Farmland Value by County

Illinois saw a slowing of farm sales in 2023 and 2024 after a euphoric 2021 and 2022. Both the Growers Edge Farmland Valuation Index (GEFVI) and NASS show values peaking in early 2024 in Illinois. Per our data, IL land values are down 4.2 percent from that peak and up 2.1 percent from a dip in Q3.

Graph of NASS values vs. GEFVI values for IL, Q1 2020 – Q4 2024
Farmland values in IL, Q1 2020 – Q4 2024

As of Q4, 2024, the top five IL counties by average farmland value per acre are as follows:

Illinois Top 5 Counties
County Value / Acre, Q4 2024
Moultrie County $15,851.13
Morgan County $15,546.77
Douglas County $15,276.08
Warren County $15,179.11
Sangamon County $15,052.26

 

Illinois Bottom 5 Counties
County Value / Acre, Q4 2024
Cook County $5,446.08
Perry County $6,885.1
Johnson County $7,545.77
Lake County $7,559.39
Williamson County $,8133.02

Map of Illinois with top five counties by land value in green and bottom five by land value in red

Indiana: Current Farmland Value by County

As of June 2024, Indiana was seeing record-high land values (though many of the gains reportedly happened in the latter part of 2023). Values peaked in Q3 and fell 5.3 percent in Q4.

Graph of NASS values vs. GEFVI values for IN, Q1 2020 – Q4 2024
Farmland values in IN, Q1 2020 – Q4 2024

Here’s a look at the top and bottom five IN counties by current per-acre land value.

Indiana Top 5 Counties
County Value / Acre, Q4 2024
Hamilton County $18,327.17
Tipton County $17,701.26
Whitley County $16,377.09
Hancock County $16,069.66
Adams County $15,855.85

 

Indiana Bottom 5 Counties
County Value / Acre, Q4 2024
Perry County $6,658.32
Scott County $6,669.31
Harrison County $7,188.64
Crawford County $7,261.55
Lawrence County $8,215.81

Map of Indiana with top five counties by land value in green and bottom five by land value in red

Iowa: Current Farmland Value by County

The GEFVI shows that Iowa farmland values have fallen 2.8 percent from their 2022 peak (and 1.7 percent QoQ). This contrasts slightly with the NASS data, which show climbing values since 2022 and a slightly lower current value per acre today.

Graph of NASS values vs. GEFVI values for IA, Q1 2020 – Q4 2024
Farmland values in IA, Q1 2020 – Q4 2024

The top five IA counties by average farmland value per acre are below:

Iowa Top 5 Counties
County Value / Acre, Q4 2024
Sioux $15,975.84
Lyon $15,585.07
Delaware $14,780.18
Sac $13,548.55
O’Brien $13,534.38

 

As expected, these counties are largely (with the exception of Delaware) in the northwest of the state, known for its rich soil.

The bottom five counties are:

Iowa Bottom 5 Counties
County Value / Acre, Q4 2024
Lucas County $5,736.45
Decatur County $5,826.22
Ringgold County $5,833.46
Appanoose County $5,968.21
Taylor County $6,086.73

Map of Iowa with top five counties by land value in green and bottom five by land value in red

Minnesota: Current Farmland Value by County

While NASS data shows farmland values flat in Minnesota for most of 2024, GEFVI data show a Q2 peak, followed by two quarters of decline (by 8.35 percent from the peak and 3.95 percent from Q3 to Q4).

Graph of NASS values vs. GEFVI values for MN, Q1 2020 – Q4 2024
Farmland values in MN, Q1 2020 – Q4 2024

Here’s a closer look at MN counties where farmland values are highest and lowest.

Minnesota Top 5 Counties
County Value / Acre, Q4 2024
Rock County $12,732.95
Nobles County $12,114.4
Mower County $11,365.84
Jackson County $11,361.59
Renville County $11,113.01

 

Minnesota Bottom 5 Counties
County Value / Acre, Q4 2024
St. Louis County $2,256.67
Cook County $2,321.08
Lake County $2,368.39
Lake of the Woods County $2,405.08
Koochiching County $2,526.12

Map of Minnesota with top five counties by land value in green and bottom five by land value in red

Missouri: Current Farmland Value by County

Missouri’s farmland values peaked in Q3 2024 after two years of more or less steady growth; however, they fell by 8.61 percent in Q4.

Graph of NASS values vs. GEFVI values for MO, Q1 2020 – Q4 2024
Farmland values in MO, Q1 2020 – Q4 2024

Top and bottom MO counties by current farmland value are below.

Missouri Top 5 Counties
County Value / Acre, Q4 2024
Lafayette County $12,569.43
Lincoln County $11,028.9
Scott County $10,778.83
Carroll County $10,619.58
Shelby County $10,236.98

 

Missouri Bottom 5 Counties
County Value / Acre, Q4 2024
Pulaski County $3,812.88
Douglas County $3,933.87
Cedar County $3,938.57
Carter County $4,010.57
Maries County $4,037.38

Map of Missouri with top five counties by land value in green and bottom five by land value in red

Nebraska: Current Farmland Value by County

Farmland values in Nebraska trended downward throughout 2024 after a high point in Q1. Values fell 9.14 percent from their early-year high and 2.33 percent from Q3.

Graph of NASS values vs. GEFVI values for NE, Q1 2020 – Q4 2024
Farmland values in NE, Q1 2020 – Q4 2024

Here’s a look at top and bottom farmland values by NE county.

Nebraska Top 5 Counties
County Value / Acre, Q4 2024
Sarpy County $13,349.25
Cass County $12,374.4
Douglas County $12,142.12
Otoe County $12,131.01
Seward County $12,013.62

 

Nebraska Bottom 5 Counties
County Value / Acre, Q4 2024
Arthur County $3,348.45
Grant County $3,348.45
Hooker County $3,348.45
Thomas County $3,348.45
Dundy County $3,368.13

Map of Nebraska with top five counties by land value in green and bottom five by land value in red

North Dakota: Current Farmland Value by County

After peaking in Q2 2023 and making a slight climb from Q3 2023 to Q3 2024, land values in North Dakota were down 7.17 percent QoQ in Q4.

Graph of NASS values vs. GEFVI values for NE, Q1 2020 – Q4 2024
Farmland values in NE, Q1 2020 – Q4 2024

Below are top and bottom ND counties by farmland value.

North Dakota Top 5 Counties
County Value / Acre, Q4 2024
Cass County $6,337.26
Traill County $5,540.46
Richland County $4,826.46
Stutsman County $4,409.51
Sargent County $4,401.53

 

North Dakota Bottom 5 Counties
County Value / Acre, Q4 2024
Grant County $2,251.22
McKenzie County $2,292.02
Rolette County $2,367.09
Stark County $2,399.27
Ramsey County $2,403.43

Map of North Dakota with top five counties by land value in green and bottom five by land value in red

Ohio: Current Farmland Value by County

Ohio is seeing similar trends to the rest of our covered area: land values peaked in Q3 2023 and have since fallen 11.47 percent (9.25 percent between Q3 and Q4 this year).

Graph of NASS values vs. GEFVI values for OH, Q1 2020 – Q4 2024
Farmland values in OH, Q1 2020 – Q4 2024

One additional hiccup for some Ohio farmers will be increased property taxes in 2025, thanks to adjustments in Current Agricultural Use Value (CAUV) taking effect. These adjustments rely on seven-year calculations, meaning high commodity prices from 2021 and 2022 are pulling up averages.

Here’s a look at OH’s top and bottom five counties by current land value.

Ohio Top 5 Counties
County Value / Acre, Q4 2024
Wayne County $14,783.21
Allen County $13,350.79
Hardin County $13,280.42
Morrow County $12,681.41
Logan County $12,625.74

 

Ohio Bottom 5 Counties
County Value / Acre, Q4 2024
Monroe County $4,912.72
Vinton County $5,137.93
Jefferson County $5,600.32
Belmont County $5,634.21
Noble County $5,868.55

Map of Ohio with top five counties by land value in green and bottom five by land value in red

South Dakota: Current Farmland Value by County

Statewide, farmland values in South Dakota ticked down 8.42 percent in Q4, after peaking in Q4 2022.

Graph of NASS values vs. GEFVI values for SD, Q1 2020 – Q4 2024
Farmland values in SD, Q1 2020 – Q4 2024

Here’s a look at top- and bottom-performing SD counties by current land value.

South Dakota Top 5 Counties
County Value / Acre, Q4 2024
Lincoln County $18,115.71
Minnehaha County $15,844.74
Moody County $15,747.47
Union County $12,602.95
Hanson County $12,469.64

 

South Dakota Bottom 5 Counties
County Value / Acre, Q4 2024
Custer County $4,806.96
Harding County $4,911.32
Todd County $5,033.17
Ziebach County $5,244.22
Butte County $5,367.32

Map of South Dakota with top five counties by land value in green and bottom five by land value in red

Wisconsin: Current Farmland Value by County

Following trends in much of the region, total Wisconsin farmland sales slowed in 2024 from previous years. Values, however, were up 17.77 percent.

Graph of NASS values vs. GEFVI values for WI, Q1 2020 – Q4 2024
Farmland values in WI, Q1 2020 – Q4 2024

Below are top- and bottom-performing WI counties by farmland value. 

Wisconsin Top 5 Counties
County Value / Acre, Q4 2024
Outagamie County $14,502.34
Fond du Lac County $13,315.14
Calumet County $13,030.34
Kenosha County $12,956.88
Lafayette County $12,736.82

 

Wisconsin Bottom 5 Counties
County Value / Acre, Q4 2024
Douglas County $3,224.16
Burnett County $3,257.82
Washburn County $3,305.69
Price County $4,517.74
Sawyer County $4,851.6

Map of Wisconsin with top five counties by land value in green and bottom five by land value in red

Get Real-Time Data on the Value of Your Land

While farmland values overall are trending down in Q1 2025, there’s plenty of variation at the county level and certainly from one parcel to the next. To get a near-real-time view of your land’s current value, visit Range.Ag, where you can get calculations based on satellite imagery, soil type, past production, and more.
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