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Real estate interest in farmland is sprouting, as land values are up 7% nationally year over year

Soaring land values, inflation concerns and a desire among real estate investors to diversify their portfolios is prompting new interest in farmland real estate.

U.S. farm real estate value is averaging $3,380 per acre this year, up $220 per acre, or 7%, from 2020, according to U.S. Department of Agriculture data from August. Since 2010, the value of farmland real estate has been rising annually, beyond a slight dip in 2016.

But the increases seen so far in 2021 represent the highest year-over-year jump seen since 2014.

Real estate values for farmland remain highest in the Midwest, averaging more than $5,000 per acre in places like the Corn Belt, which includes Illinois, Indiana, Iowa, Missouri and Ohio.

“The last six months have been an off-the-chart period for Midwest farmland,” said Bruce Sherrick, professor and director of the TIAA Center for Farmland Research at the University of Illinois. He said high-quality farmland in the Corn Belt is up 15% to 20% this year.

The growing value of farmland real estate — combined with plenty of capital looking at less mainstream, but potentially more stable, asset classes — is prompting a wave of inquiries about farmland real estate opportunities.

*Article Courtesy of Philadelphia Business Journal

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