Farmland Values for Midwestern States
Ryan Milhollin
Assistant Professor, Agricultural Business and Policy Extension
The U.S. Department of Agriculture’s National Agricultural Statistics Service (USDA/NASS) conducts a survey of farm real estate values each year and calculates the average value per acre for each state. The following tables show these values for Missouri, neighboring states and the 48 contiguous states.
Table 1. Farm real estate (land and buildings) average value per acre, 1912–1991.
| Year | 48 contiguous states | Missouri | Iowa | Illinois |
|---|---|---|---|---|
| 1912 | $42 | $53 | $104 | $115 |
| 1913 | $43 | $54 | $108 | $119 |
| 1914 | $44 | $56 | $113 | $123 |
| 1915 | $43 | $55 | $121 | $121 |
| 1916 | $46 | $58 | $137 | $124 |
| 1917 | $49 | $61 | $143 | $131 |
| 1918 | $53 | $66 | $155 | $140 |
| 1919 | $58 | $72 | $171 | $153 |
| 1920 | $69 | $88 | $227 | $188 |
| 1921 | $65 | $83 | $210 | $181 |
| 1922 | $57 | $71 | $174 | $149 |
| 1923 | $56 | $69 | $168 | $146 |
| 1924 | $54 | $63 | $155 | $137 |
| 1925 | $54 | $61 | $149 | $137 |
| 1926 | $52 | $57 | $142 | $130 |
| 1927 | $50 | $55 | $132 | $118 |
| 1928 | $49 | $54 | $129 | $114 |
| 1929 | $49 | $54 | $128 | $113 |
| 1930 | $49 | $53 | $124 | $109 |
| 1931 | $44 | $46 | $109 | $96 |
| 1932 | $37 | $39 | $89 | $79 |
| 1933 | $30 | $32 | $65 | $65 |
| 1934 | $31 | $33 | $70 | $70 |
| 1935 | $32 | $33 | $73 | $72 |
| 1936 | $32 | $34 | $79 | $75 |
| 1937 | $33 | $34 | $79 | $79 |
| 1938 | $33 | $33 | $80 | $81 |
| 1939 | $32 | $31 | $78 | $80 |
| 1940 | $32 | $32 | $79 | $82 |
| 1941 | $32 | $32 | $79 | $83 |
| 1942 | $34 | $35 | $84 | $94 |
| 1943 | $38 | $39 | $91 | $98 |
| 1944 | $43 | $43 | $105 | $113 |
| 1945 | $47 | $48 | $111 | $121 |
| 1946 | $53 | $53 | $124 | $134 |
| 1947 | $60 | $59 | $138 | $153 |
| 1948 | $64 | $60 | $154 | $162 |
| 1949 | $66 | $64 | $158 | $170 |
| 1950 | $65 | $64 | $161 | $174 |
| 1951 | $75 | $75 | $188 | $204 |
| 1952 | $82 | $85 | $199 | $221 |
| 1953 | $83 | $82 | $194 | $226 |
| 1954 | $82 | $79 | $192 | $230 |
| 1955 | $85 | $82 | $203 | $234 |
| 1956 | $91 | $87 | $209 | $248 |
| 1957 | $97 | $94 | $221 | $275 |
| 1958 | $103 | $102 | $230 | $283 |
| 1959 | $111 | $110 | $248 | $311 |
| 1960 | $117 | $115 | $257 | $316 |
| 1961 | $118 | $120 | $242 | $306 |
| 1962 | $124 | $127 | $251 | $315 |
| 1963 | $130 | $132 | $256 | $332 |
| 1964 | $138 | $145 | $265 | $349 |
| 1965 | $146 | $155 | $279 | $372 |
| 1966 | $158 | $168 | $310 | $420 |
| 1967 | $168 | $186 | $346 | $449 |
| 1968 | $179 | $200 | $365 | $470 |
| 1969 | $188 | $217 | $382 | $493 |
| 1970 | $196 | $224 | $392 | $490 |
| 1971 | $204 | $236 | $392 | $494 |
| 1972 | $219 | $261 | $414 | $522 |
| 1973 | $246 | $294 | $466 | $567 |
| 1974 | $302 | $384 | $597 | $720 |
| 1975 | $340 | $396 | $719 | $846 |
| 1976 | $385 | $446 | $903 | $1,052 |
| 1977 | $474 | $548 | $1,259 | $1,458 |
| 1978 | $531 | $641 | $1,331 | $1,625 |
| 1979 | $628 | $726 | $1,550 | $1,858 |
| 1980 | $737 | $902 | $1,840 | $2,041 |
| 1981 | $819 | $990 | $1999 | $2,188 |
| 1982 | $823 | $945 | $1,889 | $2,023 |
| 1983 | $788 | $856 | $1,684 | $1,837 |
| 1984 | $801 | $875 | $1,518 | $1,845 |
| 1985 | $713 | $689 | $1,091 | $1,381 |
| 1986 | $640 | $648 | $873 | $1,232 |
| 1987 | $599 | $604 | $786 | $1,149 |
| 1988 | $632 | $640 | $947 | $1,262 |
| 1989 | $668 | $684 | $1,095 | $1,391 |
| 1990 | 683 | 701 | 1,090 | 1,405 |
| 1991 | 703 | 723 | 1,139 | 1,459 |
Table 2. Farm real estate (land and buildings) average value per acre, 1992 to present.
| Year | 48 states | Missouri | Iowa | Illinois | Kentucky | Tennessee | Arkansas | Oklahoma | Kansas | Nebraska |
|---|---|---|---|---|---|---|---|---|---|---|
| 1992 | $713 | $734 | $1,153 | $1,536 | $998 | $1,130 | $815 | $482 | $460 | $517 |
| 1993 | 736 | 774 | 1,212 | 1,548 | 1,077 | 1,245 | 880 | 496 | 463 | 514 |
| 1994 | 798 | 825 | 1,280 | 1,670 | 1,140 | 1,250 | 927 | 517 | 503 | 550 |
| 1995 | 844 | 880 | 1,350 | 1,820 | 1,250 | 1,340 | 983 | 547 | 535 | 580 |
| 1996 | 887 | 950 | 1,450 | 1,900 | 1,300 | 1,530 | 1,010 | 547 | 553 | 610 |
| 1997 | 926 | 1,010 | 1,600 | 1,980 | 1,350 | 1,650 | 1,070 | 570 | 565 | 620 |
| 1998 | 974 | 1,070 | 1,700 | 2,130 | 1,450 | 1,810 | 1,150 | 610 | 577 | 645 |
| 1999 | 1,030 | 1,150 | 1,760 | 2,220 | 1,550 | 1,950 | 1,220 | 625 | 600 | 675 |
| 2000 | 1,090 | 1,230 | 1,800 | 2,260 | 1,650 | 2,100 | 1,290 | 640 | 625 | 710 |
| 2001 | 1,150 | 1,300 | 1,850 | 2,290 | 1,750 | 2,200 | 1,350 | 655 | 645 | 735 |
| 2002 | 1,210 | 1,380 | 1,920 | 2,350 | 1,830 | 2,300 | 1,410 | 680 | 665 | 760 |
| 2003 | 1,270 | 1,470 | 2,010 | 2,430 | 1,900 | 2,400 | 1,480 | 705 | 685 | 775 |
| 2004 | 1,340 | 1,560 | 2,200 | 2,560 | 1,980 | 2,470 | 1,640 | 750 | 700 | 810 |
| 2005 | 1,610 | 1,750 | 2,640 | 3,210 | 2,450 | 2,790 | 1,850 | 900 | 810 | 910 |
| 2006 | 1,830 | 1,910 | 2,910 | 3,590 | 2,670 | 2,970 | 2,000 | 970 | 870 | 1,030 |
| 2007 | 2,010 | 2,170 | 3,370 | 4,020 | 2,740 | 3,250 | 2,240 | 1,080 | 980 | 1,140 |
| 2008 | 2,170 | 2,300 | 3,950 | 4,550 | 2,850 | 3,450 | 2,420 | 1,150 | 1,020 | 1,330 |
| 2009 | 2,090 | 2,160 | 3,780 | 4,450 | 2,800 | 3,260 | 2,340 | 1,150 | 1,010 | 1,320 |
| 2010 | 2,150 | 2,270 | 4,350 | 4,720 | 2,780 | 3,460 | 2,400 | 1,200 | 1,060 | 1,470 |
| 2011 | 2,300 | 2,420 | 5,410 | 5,390 | 2,750 | 3,510 | 2,440 | 1,260 | 1,240 | 1,840 |
| 2012 | 2,520 | 2,710 | 6,530 | 6,210 | 2,840 | 3,520 | 2,620 | 1,370 | 1,510 | 2,420 |
| 2013 | 2,730 | 2,850 | 7,700 | 7,100 | 3,020 | 3,570 | 2,700 | 1,450 | 1,750 | 2,800 |
| 2014 | 2,940 | 3,050 | 8,320 | 7,480 | 3,210 | 3,620 | 2,830 | 1,550 | 2,060 | 3,100 |
| 2015 | 3,000 | 3,230 | 7,670 | 7,430 | 3,370 | 3,690 | 3,020 | 1,630 | 2,050 | 3,010 |
| 2016 | 2,990 | 3,220 | 7,370 | 7,300 | 3,540 | 3,770 | 3,000 | 1,690 | 1,910 | 2,890 |
| 2017 | 3,030 | 3,120 | 7,350 | 7,160 | 3,680 | 3,840 | 3,110 | 1,750 | 1,890 | 2,820 |
| 2018 | 3,100 | 3,380 | 7,270 | 7,280 | 3,770 | 3,920 | 3,160 | 1,800 | 1,850 | 2,750 |
| 2019 | 3,160 | 3,400 | 7,190 | 7,280 | 3,820 | 3,990 | 3,320 | 1,870 | 1,960 | 2,850 |
| 2020 | 3,160 | 3,400 | 7,070 | 7,400 | 3,920 | 4,100 | 3,350 | 1,890 | 1,900 | 2,790 |
| 2021 | 3,380 | 3,700 | 7,740 | 7,900 | 4,000 | 4,260 | 3,390 | 2,020 | 2,100 | 3,100 |
Missouri county values
MU Extension publication G403, Missouri Farmland Values reports average market value per acre of farmland and buildings for individual Missouri counties. This data is reported in the U.S. Census of Agriculture, which is conducted every five years. Methods for estimating land value in intervening years are documented in this publication.