Iowa sets 2022 record farmland sale price

38 acres of land sells for US$23,000/acre.

By Andrew Joseph, Farms.com

A new 2022 record price for Iowa farmland was set on March 8, 2022 by the Whitaker Marketing Group.

The record-setter was for 38 acres of farmland sold in Sioux County as a single tract of land for US$23,000 per acre (~CDN$29,300) or $24,498.60 (~CDN$31,200) per tillable acre.

"There are a multitude of factors that impact farmland prices," said David Whitaker of Whitaker Marketing Group. "Competitive bidding and utilizing the auction method of marketing is the way to sell your farmland in this market."

He added that the market is still trending upward. "Markets are emotion, and the emotion is strong towards farmland."

There are 35.7 million acres of farmland in Iowa, and it is estimated that 10 percent of it changes hands each year.