2020 Nebraska Farm Real Estate Report

Path through corn field.

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.

Download 2020 Nebraska Farm Real Estate Report

Download Full Report

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.

Webinar

A webinar covering Nebraska agricultural land values, trends and outlook, will be held on July 16.
Register here

Contact

Jim Jansen
402-261-7572
jjansen4@unl.edu

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
Map of Nebraska depicting 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

Download Full Report