Iowa Farmland Cash Rental Rates Up Ten-Percent
May 25, 2022 1:15pm
The latest Iowa State University Extension survey of farmland cash rental rates shows an increase by an average of more than ten percent (10.3) in 2022.
Economist Alejandro Plastina says there still seems to be room for more of an increase based on the price of land and commodities...(audio clip below :18 )
The survey is conducted every year in February and April.
The U-S-D-A survey is based on individual contracts. The 256 dollars an acre rate in this survey is the third consecutive increase -- and largest uptick in cash rents since 2013 went rates hit 270 dollars.
The cash rental rate for District 1, which includes Buena Vista County, is at 270-dollars, up 28 dollars from the previous year. District 1 also includes Cherokee, Clay, and Pocahontas county.
The cash rental rate for District 2, which includes Calhoun, Ida, and Sac counties, is at 261 dollars, an increase of 23 dollars.
Plastina believes the rate will go up again, based on what he's seeing...(audio clip below :16 )
The average cash rents increased by similar percentages across different types of land quality.
(thanks to Radio Iowa for contributing)
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