Nebraska agricultural land values increased by 3% over the last year, to a statewide average of $2,650 per acre, according to preliminary results from the University of Nebraska-Lincoln’s Farm Real Estate Market Survey. This marks the first year-to-year increase since land values in the state peaked at $3,315 per acre in 2014.
*Survey participants reported that economic forces providing stability in the market included the limited supply of land for sale, strong demand for purchases and disaster assistance payments over the last year.
*Estimated dryland cropland values in the state rose between 3% and 4%, while the values of gravity and center pivot irrigated cropland rose 2% and 3%, respectively. However, the Northwest and Southwest Districts saw declines between 2% and 5% for the two land classes.
*Grazing land and hayland value estimates also rose between 2% and 5% over the last year, with slight declines in two districts. Major cow-calf pair regions, including the Northwest, North and Central Districts, led the increase in market values, with growth between 6% and 8%.
*The survey also revealed a high degree of concern between many landlords and tenants when working to agree on an equitable rental rate, generally attributed to landlords facing high property taxes and producers facing low commodity prices.
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