The statewide all-land average value for the year ending Feb. 1, 2020, averaged $2,725 per acre, or about a 3% ($80 per acre) increase to the prior year’s value of $2,645 per acre. This marks the first year-to-year increase since land values in the state peaked at $3,315 per acre in 2014.
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Many cash rental rates in Nebraska were set prior to the economic shocks caused by COVID-19. The survey collection period for the Nebraska Farm Real Estate Report may partially reflect these rates and not account for possible adjustments. Landlords and tenants might consider amending contractual agreements to account for these shocks or consider the use of alternative lease arrangements.
Highlights
- The North, Northeast, Central, East, and Southeast Districts reported the highest rates of increase, ranging from 3% to 5% for the all-land average. These regions trended close to the improvement in value for the statewide average.
- Western regions of Nebraska, including the Northwest, Southwest, and Southern Districts, reported small regional average changes.
- Gravity and center pivot irrigated cropland noted smaller increases of 1% and 3% for the state-wide average, at $5,755 and $6,125 per acre.
- Dryland cropland having no irrigation potential and with irrigation potential average $3,165 and $4,140 per acre or 4% and 3% higher than the prior year.
- Grazing land, including tillable or non-tillable, noted 5% and 4% increases for state-wide averages of $1,240 and $830 per acre.
- In 2020, panel members noted 1031 tax exchanges, non-farmer investor interest in land purchases, and current interest rate levels as forces guiding higher market values. These forces were reported as slightly positive on impacting future land prior to the domestic outbreak of COVID-19.
Average Value of Nebraska Farmland, February 1, 2020 and Percent Change from Year Earlier

Average Value of Nebraska Farmland by Land Type
Land Type |
$/Acre |
%Change |
All Land Average |
2,725 |
3 |
Center Pivot Irrigated Cropland |
6,125 |
3 |
Gravity Irrigated Cropland |
5,755 |
1 |
Dryland Cropland (Irrigation Potential) |
4,140 |
3 |
Dryland Cropland (No Irrigation Potential) |
3,165 |
4 |
Grazing Land (Tillable) |
1240 |
5 |
Grazing Land (Nontillable) |
830 |
4 |
Hayland |
1,640 |
2 |
Due to the inherent limitations of this survey, the information in this report should not be used to set a specific rental rate or value a particular parcel of real property for sale or property taxes, security for a loan, and other related legal matters.
Central
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
3,180 |
3 |
Center Pivot Irrigated Cropland |
6,675 |
4 |
Gravity Irrigated Cropland |
5,805 |
-1 |
Dryland Cropland (Irrigation Potential) |
3,210 |
5 |
Dryland Cropland (No Irrigation Potential) |
2,845 |
3 |
Grazing Land (Tillable) |
1,875 |
7 |
Grazing Land (Nontillable) |
1,460 |
4 |
Hayland |
1,925 |
2 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
230 |
7 |
Gravity Irrigated Cropland |
205 |
5 |
Dryland Cropland |
91 |
8 |
Pasture |
35 |
11 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
54.70 |
Stockers (500-600 lb.) |
31.80 |
Counties: Buffalo, Custer, Dawson, Greeley, Hall, Howard, Sherman, Valley
East
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
6,495 |
5 |
Center Pivot Irrigated Cropland |
8,900 |
5 |
Gravity Irrigated Cropland |
7,725 |
2 |
Dryland Cropland (Irrigation Potential) |
6,550 |
7 |
Dryland Cropland (No Irrigation Potential) |
6,120 |
6 |
Grazing Land (Tillable) |
3,190 |
4 |
Grazing Land (Nontillable) |
2,405 |
7 |
Hayland |
2,965 |
-2 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
280 |
-2 |
Gravity Irrigated Cropland |
255 |
4 |
Dryland Cropland |
205 |
2 |
Pasture |
51 |
9 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
51.35 |
Stockers (500-600 lb.) |
37.45 |
Counties: Butler, Cass, Colfax, Dodge, Douglas, Hamilton, Lancaster, Merrick, Nance, Polk, Sarpy, Saunders, Seward, Washington, York
North
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
1,090 |
4 |
Center Pivot Irrigated Cropland |
3,950 |
1 |
Gravity Irrigated Cropland |
3,645 |
2 |
Dryland Cropland (Irrigation Potential) |
1,975 |
3 |
Dryland Cropland (No Irrigation Potential) |
1,515 |
1 |
Grazing Land (Tillable) |
1,105 |
6 |
Grazing Land (Nontillable) |
660 |
6 |
Hayland |
1,170 |
3 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
195 |
5 |
Gravity Irrigated Cropland |
170 |
3 |
Dryland Cropland |
52 |
3 |
Pasture |
26 |
6 |
Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
61.45 |
Stockers (500-600 lb.) |
34.95 |
Counties: Arthur, Blaine, Boyd, Brown, Cherry, Garfield, Grant, Holt, Hooker, Keya Paha, Logan, Loup, McPherson, Rock, Thomas, Wheeler
Northeast
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
5,370 |
3 |
Center Pivot Irrigated Cropland |
7,390 |
2 |
Gravity Irrigated Cropland |
6,700 |
3 |
Dryland Cropland (Irrigation Potential) |
5,765 |
2 |
Dryland Cropland (No Irrigation Potential) |
5,495 |
4 |
Grazing Land (Tillable) |
3,220 |
3 |
Grazing Land (Nontillable) |
2,045 |
3 |
Hayland |
3,065 |
1 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
290 |
4 |
Gravity Irrigated Cropland |
260 |
2 |
Dryland Cropland |
215 |
5 |
Pasture |
63 |
8 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
57.80 |
Stockers (500-600 lb). |
38.55 |
Counties: Antelope, Boone, Burt, Cedar, Cuming, Dakota, Dixon, Knox, Madison, Pierce, Stanton, Thurston, Wayne
Northwest
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
685 |
1 |
Center Pivot Irrigated Cropland |
2,460 |
-4 |
Gravity Irrigated Cropland |
2,135 |
-5 |
Dryland Cropland (Irrigation Potential) |
695 |
2 |
Dryland Cropland (No Irrigation Potential) |
610 |
-5 |
Grazing Land (Tillable) |
520 |
4 |
Grazing Land (Nontillable) |
430 |
5 |
Hayland |
715 |
1 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
140 |
-3 |
Gravity Irrigated Cropland |
105 |
-5 |
Dryland Cropland |
28 |
2 |
Pasture |
12 |
9 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
37.90 |
Stockers (500-600 lb.) |
23.10 |
Counties: Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan, Sioux
South
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
3,620 |
2 |
Center Pivot Irrigated Cropland |
6,465 |
5 |
Gravity Irrigated Cropland |
5,450 |
2 |
Dryland Cropland (Irrigation Potential) |
3,495 |
1 |
Dryland Cropland (No Irrigation Potential) |
2,980 |
3 |
Grazing Land (Tillable) |
1,835 |
-2 |
Grazing Land (Nontillable) |
1,380 |
3 |
Hayland |
1,905 |
-4 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
220 |
7 |
Gravity Irrigated Cropland |
205 |
8 |
Dryland Cropland |
76 |
4 |
Pasture |
37 |
10 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
47.10 |
Stockers (500-600 lb.) |
31.70 |
Counties: Adams, Franklin, Furnas, Gosper, Harlan, Kearney, Phelps, Webster
Southeast
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
4,865 |
4 |
Center Pivot Irrigated Cropland |
7,680 |
3 |
Gravity Irrigated Cropland |
6,235 |
6 |
Dryland Cropland (Irrigation Potential) |
5,330 |
1 |
Dryland Cropland (No Irrigation Potential) |
4,435 |
7 |
Grazing Land (Tillable) |
2,920 |
6 |
Grazing Land (Nontillable) |
2,055 |
4 |
Hayland |
2,730 |
3 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
265 |
6 |
Gravity Irrigated Cropland |
230 |
5 |
Dryland Cropland |
165 |
6 |
Pasture |
48 |
4 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
50.45 |
Stockers (500-600 lb.) |
35.95 |
Counties: Clay, Fillmore, Gage, Jefferson, Johnson, Nemaha, Nuckolls, Otoe, Pawnee, Richardson, Saline, Thayer
Southwest
Average Value of Farmland by Land Type
Land Type |
$/Acre |
% Change |
All Land Average |
1,550 |
-1 |
Center Pivot Irrigated Cropland |
3,990 |
-3 |
Gravity Irrigated Cropland |
3,570 |
-4 |
Dryland Cropland (Irrigation Potential) |
1,545 |
-3 |
Dryland Cropland (No Irrigation Potential) |
1,415 |
-2 |
Grazing Land (Tillable) |
925 |
5 |
Grazing Land (Nontillable) |
750 |
2 |
Hayland |
1,290 |
3 |
Average Cash Rental Rates by Land Type
Land Type |
$/Acre |
% Change |
Center Pivot Irrigated Cropland |
185 |
5 |
Gravity Irrigated Cropland |
160 |
3 |
Dryland Cropland |
37 |
-3 |
Pasture |
20 |
5 |
Average Monthly Cash Rental Rates for Pasture
Land Type |
$/Month |
Cow-Calf Pairs |
49.90 |
Stockers (500-600 lb.) |
33.20 |
Counties: Chase, Dundy, Frontier, Hayes, Hitchcock, Keith, Lincoln, Perkins, Red Willow
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