Indiana Farmland Prices

How much is an acre of farmland worth in Indiana?

The average acre of cropland in the region was worth $6,360 in 2019, compared with $6,700 in 2015, according to the annual Land Values report..

What is the life expectancy of a farmer?

57.5 yearsAverage age of U.S. farmer climbs to 57.5 years. USDA NASS releases Census of Agriculture, which tells the story of American agriculture.

What states give free land?

No state actually gives out free land, but there are cities that are offering free land. Most of these cities are located in the following states: Kansas, Nebraska, Minnesota, Colorado, Iowa and Texas.

How is fair market value of farmland determined?

In 2014, the USDA published a document showing the average market price for farmland in each state. Once you have located the acreage for the property you are valuing, you can multiply the acreage by the value of farmland in that state, which will provide you with the market value of that particular parcel.

What is a good price per acre?

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2019, up $60 per acre (1.9 percent) from 2018. The United States cropland value averaged $4,100 per acre, an increase of $50 per acre (1.2 percent) from the previous year.

How much is an acre of wooded land worth?

Land Clearing Prices by Lot SizeAcreageCost Range¼ acre$125 – $1,400½ acre$250 – $2,8001 acre$500 – $5,6002 acres$1,000 – $11,2003 more rows•Aug 12, 2020

Will farmland prices continue to rise?

The Federal Reserve Bank of Chicago noted in its quarterly letter that agricultural land values increased 6% in 2020, the largest gain since 2012. Its survey of bankers found that 58% think land values will continue to rise through at least March, and 42% expect then to be stable.

Are farmland prices falling?

California saw the largest increase in agricultural land values in 2019, jumping 7% or $650 per acre from 2018. … Average land values in Iowa have dropped 14% since 2014. In fact, over the last five years, Iowa has seen the steepest decline in agricultural land values – dropping $1,130 per acre or 14%.

What is the average age of a farmer in Indiana?

55.5 years oldIndiana is the tenth largest farming state in the nation. There are just over 94,000 farmers in Indiana. The average age of an Indiana farmer is 55.5 years old.

Is farmland a good investment 2020?

As a result, farmland is a red-hot investment right now, and, according to Marketwire, has appreciated at a rate 2% higher than inflation since the 1950s. Historically, farmland also offers higher total returns than many other types of real estate investments, and also exhibits a much lower level of risk.

Where is the cheapest land for sale?

Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.

Where is the cheapest land per acre?

The Cheapest Per Acre In Gerlach, Nevada you can get land as cheap as $157 per acre. With that kind of a price tag, you know there has to be a catch… The first catch – to get that kind of rate you would have to consider buying in bulk.

What does 1 acre of land look like?

As all farmers and real estate agents know, an acre is defined as an area one furlong long by 4 rods wide. … Basically if you can picture a football field, that’s pretty close to an acre in size. Officially, it is 43,560 square feet, and a football field is 48,000 square feet.

How much does farmland cost in Indiana?

Nearly two-thirds of Indiana’s 23 million acres are farmlands. Five of the state’s 92 counties have more than 90% of their land area in farm uses (see Figure 1).

How much is an acre of land worth in 2020?

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2020, no change from 2019. The United States cropland value averaged $4,100 per acre, no change from the previous year.

How much is wooded acre worth in Indiana?

Sale price averaged $1,632 per acre and ranged from $819 to $2,637 (Figure 2). The bare land average value of $712 per A and was estimated by subtracting the allocated timber value from the allocated timber value.

What are the top 3 agricultural products in Indiana?

In terms of revenue generated, Indiana’s top five agricultural products are corn for grain, soybeans, hogs, dairy products, and chicken eggs.

What crop is Indiana known for?

cornThe Hoosier State is 10th nationally in total agricultural production and in the top five for crop production, thanks to the abundance of corn and soybeans. It’s also ranked fifth in the nation for swine production and third for poultry.

Is farmland a good investment?

As an investment, farmland is best characterized as a type of real estate investment. Like “traditional” real estate, farmland can earn money in two ways. First, farmland can be leased to farmers who will use the land to grow crops. Investors can earn money from ongoing lease payments.

How much does 1 acre of land cost in NC?

Over the last 20 years, the price of farmland per acre in north carolina has risen by an average of 2.8% per year to $4,180 per acre as of 2019.

How do you calculate price per acre?

Calculating cost per acre is a straightforward process….This involves adding up all the numbers you have and dividing by the total number of values present.Add together the total “cost per acre” dollar amounts you have located. … Count the total number of “cost per acre” dollar amounts you found.More items…