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.

Year48 contiguous statesMissouriIowaIllinois
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
19906837011,0901,405
19917037231,1391,459

Table 2. Farm real estate (land and buildings) average value per acre, 1992 to present.

Year48 statesMissouriIowaIllinoisKentuckyTennesseeArkansasOklahomaKansasNebraska
1992$713$734$1,153$1,536$998$1,130$815$482$460$517
19937367741,2121,5481,0771,245880496463514
19947988251,2801,6701,1401,250927517503550
19958448801,3501,8201,2501,340983547535580
19968879501,4501,9001,3001,5301,010547553610
19979261,0101,6001,9801,3501,6501,070570565620
19989741,0701,7002,1301,4501,8101,150610577645
19991,0301,1501,7602,2201,5501,9501,220625600675
20001,0901,2301,8002,2601,6502,1001,290640625710
20011,1501,3001,8502,2901,7502,2001,350655645735
20021,2101,3801,9202,3501,8302,3001,410680665760
20031,2701,4702,0102,4301,9002,4001,480705685775
20041,3401,5602,2002,5601,9802,4701,640750700810
20051,6101,7502,6403,2102,4502,7901,850900810910
20061,8301,9102,9103,5902,6702,9702,0009708701,030
20072,0102,1703,3704,0202,7403,2502,2401,0809801,140
20082,1702,3003,9504,5502,8503,4502,4201,1501,0201,330
20092,0902,1603,7804,4502,8003,2602,3401,1501,0101,320
20102,1502,2704,3504,7202,7803,4602,4001,2001,0601,470
20112,3002,4205,4105,3902,7503,5102,4401,2601,2401,840
20122,5202,7106,5306,2102,8403,5202,6201,3701,5102,420
20132,7302,8507,7007,1003,0203,5702,7001,4501,7502,800
20142,9403,0508,3207,4803,2103,6202,8301,5502,0603,100
20153,0003,2307,6707,4303,3703,6903,0201,6302,0503,010
20162,9903,2207,3707,3003,5403,7703,0001,6901,9102,890
20173,0303,1207,3507,1603,6803,8403,1101,7501,8902,820
20183,1003,3807,2707,2803,7703,9203,1601,8001,8502,750
20193,1603,4007,1907,2803,8203,9903,3201,8701,9602,850
20203,1603,4007,0707,4003,9204,1003,3501,8901,9002,790
20213,3803,7007,7407,9004,0004,2603,3902,0202,1003,100

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.

Original author: Robert J. Bevins