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Jan. 4, 2021Ames, Iowa |  By: AP

Iowa average farmland value increases 1.7% in past year


AMES, Iowa (AP) - The annual Iowa Land Value Survey shows the value of Iowa farmland increased by an average of 1.7% in the past year despite severe weather, trade uncertainty and the coronavirus pandemic.

The survey was led by Iowa State University economics professor Wendong Zhang. It found the average value of an acre of farmland was $7,559.

That's an increase of $127 since 2019. Farmland value was aided by low interest rates, strong demand for land and billions of dollars in federal payments to farmers.