2021 Preliminary Results
The full report is expected to be published in early June
The market value of agricultural land in Nebraska increased by 6% over the prior year to an average of $2,895 per acre, according to the 2021 Nebraska Farm Real Estate Market Survey. This improvement marks the second consecutive gain in the market value of agricultural land in Nebraska since 2019.
Results are published by region and land type below.
Contact
Jim Jansen
402-261-7572
jjansen4@unl.edu
Highlights
- Land industry professionals responding to the annual survey attributed the rise in Nebraska farm real estate values to current interest rate levels, crop prices, and COVID-19 disaster assistance payments provided to operators across the sate.
- Operators faced an exceptional amount of risk and uncertainty when navigating production decisions during the height of the COVID-19 pandemic. Lower interest rates and disaster assistance payments provided stability to an industry facing an economic shutdown and disruptions of supply chains.
- The estimated market value of center pivot irrigated cropland rose by about 8% across the state.
- Dryland cropland without irrigation potential reported an increase of about 7%.
- Dryland cropland with irrigation potential showed a renewed interest with higher commodity prices. This land class indicated a 6% increase for the state.
- Improvements in grazing land and hayland market values range around 3% to 5%.
- Cropland and grazing land rental rates in 2021 were higher than those reported in the prior year. Reports by survey participants indicate higher crop prices are a driving force for the higher rates.
| Land Type | $/Acre | %Change |
|---|---|---|
| All Land Average | 2,895 | 6 |
| Center Pivot Irrigated Cropland | 6,610 | 8 |
| Gravity Irrigated Cropland | 6,095 | 6 |
| Dryland Cropland (Irrigation Potential) | 4,390 | 6 |
| Dryland Cropland (No Irrigation Potential) | 3,380 | 7 |
| Grazing Land (Tillable) | 1,300 | 5 |
| Grazing Land (Nontillable) | 860 | 4 |
| Hayland | 1,695 | 3 |
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
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 3,395 | 7 |
| Center Pivot Irrigated Cropland | 7,270 | 9 |
| Gravity Irrigated Cropland | 6,180 | -6 |
| Dryland Cropland (Irrigation Potential) | 3,575 | 11 |
| Dryland Cropland (No Irrigation Potential) | 3,080 | 8 |
| Grazing Land (Tillable) | 1,965 | 5 |
| Grazing Land (Nontillable) | 1,490 | 2 |
| Hayland | 1,980 | 3 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 235 | 2 |
| Gravity Irrigated Cropland | 215 | 5 |
| Dryland Cropland | 98 | 8 |
| Pasture | 37 | 6 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 58.85 |
Counties: Buffalo, Custer, Dawson, Greeley, Hall, Howard, Sherman, Valley
East
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 6,850 | 5 |
| Center Pivot Irrigated Cropland | 9,545 | 7 |
| Gravity Irrigated Cropland | 8,110 | 5 |
| Dryland Cropland (Irrigation Potential) | 6,835 | 4 |
| Dryland Cropland (No Irrigation Potential) | 6,485 | 6 |
| Grazing Land (Tillable) | 3,380 | 6 |
| Grazing Land (Nontillable) | 2,575 | 7 |
| Hayland | 3,070 | 4 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 290 | 4 |
| Gravity Irrigated Cropland | 260 | 2 |
| Dryland Cropland | 220 | 7 |
| Pasture | 53 | 3 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 55.20 |
Counties: Butler, Cass, Colfax, Dodge, Douglas, Hamilton, Lancaster, Merrick, Nance, Polk, Sarpy, Saunders, Seward, Washington, York
North
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 1,160 | 6 |
| Center Pivot Irrigated Cropland | 4,285 | 8 |
| Gravity Irrigated Cropland | 3,790 | 4 |
| Dryland Cropland (Irrigation Potential) | 2,115 | 7 |
| Dryland Cropland (No Irrigation Potential) | 1,650 | 9 |
| Grazing Land (Tillable) | 1,180 | 7 |
| Grazing Land (Nontillable) | 690 | 5 |
| Hayland | 1,200 | 3 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 210 | 8 |
| Gravity Irrigated Cropland | 180 | 6 |
| Dryland Cropland | 57 | 11 |
| Pasture | 28 | 8 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 63.15 |
Counties: Arthur, Blaine, Boyd, Brown, Cherry, Garfield, Grant, Holt, Hooker, Keya Paha, Logan, Loup, McPherson, Rock, Thomas, Wheeler
Northeast
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 5,755 | 7 |
| Center Pivot Irrigated Cropland | 8,145 | 10 |
| Gravity Irrigated Cropland | 7,325 | 9 |
| Dryland Cropland (Irrigation Potential) | 6,200 | 8 |
| Dryland Cropland (No Irrigation Potential) | 5,765 | 5 |
| Grazing Land (Tillable) | 3,245 | 1 |
| Grazing Land (Nontillable) | 2,120 | 4 |
| Hayland | 3,230 | 5 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 305 | 5 |
| Gravity Irrigated Cropland | 280 | 8 |
| Dryland Cropland | 225 | 5 |
| Pasture | 66 | 4 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 60.75 |
Counties: Antelope, Boone, Burt, Cedar, Cuming, Dakota, Dixon, Knox, Madison, Pierce, Stanton, Thurston, Wayne
Northwest
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 715 | 4 |
| Center Pivot Irrigated Cropland | 2,560 | 4 |
| Gravity Irrigated Cropland | 2,245 | 5 |
| Dryland Cropland (Irrigation Potential) | 760 | 9 |
| Dryland Cropland (No Irrigation Potential) | 635 | 4 |
| Grazing Land (Tillable) | 540 | 4 |
| Grazing Land (Nontillable) | 440 | 7 |
| Hayland | 775 | 8 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 150 | 7 |
| Gravity Irrigated Cropland | 115 | 10 |
| Dryland Cropland | 30 | 9 |
| Pasture | 13 | 10 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 39.60 |
Counties: Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan, Sioux
South
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 3,805 | 5 |
| Center Pivot Irrigated Cropland | 6,885 | 6 |
| Gravity Irrigated Cropland | 5,735 | 5 |
| Dryland Cropland (Irrigation Potential) | 3,605 | 3 |
| Dryland Cropland (No Irrigation Potential) | 3,070 | 3 |
| Grazing Land (Tillable) | 1,990 | 8 |
| Grazing Land (Nontillable) | 1,465 | 6 |
| Hayland | 1,925 | 1 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 235 | 7 |
| Gravity Irrigated Cropland | 210 | 2 |
| Dryland Cropland | 83 | 10 |
| Pasture | 38 | 4 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 49.80 |
Counties: Adams, Franklin, Furnas, Gosper, Harlan, Kearney, Phelps, Webster
Southeast
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 5,230 | 8 |
| Center Pivot Irrigated Cropland | 8,380 | 9 |
| Gravity Irrigated Cropland | 6,710 | 8 |
| Dryland Cropland (Irrigation Potential) | 5,655 | 6 |
| Dryland Cropland (No Irrigation Potential) | 4,935 | 11 |
| Grazing Land (Tillable) | 2,985 | 2 |
| Grazing Land (Nontillable) | 2,135 | 4 |
| Hayland | 2,800 | 3 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 280 | 6 |
| Gravity Irrigated Cropland | 240 | 4 |
| Dryland Cropland | 170 | 3 |
| Pasture | 49 | 1 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 54.80 |
Counties: Clay, Fillmore, Gage, Jefferson, Johnson, Nemaha, Nuckolls, Otoe, Pawnee, Richardson, Saline, Thayer
Southwest
| Land Type | $/Acre | % Change |
|---|---|---|
| All Land Average | 1,600 | 3 |
| Center Pivot Irrigated Cropland | 4,170 | 5 |
| Gravity Irrigated Cropland | 3,775 | 6 |
| Dryland Cropland (Irrigation Potential) | 1,620 | 5 |
| Dryland Cropland (No Irrigation Potential) | 1,440 | 2 |
| Grazing Land (Tillable) | 950 | 3 |
| Grazing Land (Nontillable) | 755 | 1 |
| Hayland | 1,310 | 2 |
| Land Type | $/Acre | % Change |
|---|---|---|
| Center Pivot Irrigated Cropland | 195 | 5 |
| Gravity Irrigated Cropland | 170 | 6 |
| Dryland Cropland | 42 | 12 |
| Pasture | 22 | 7 |
| Land Type | $/Month |
|---|---|
| Cow-Calf Pairs | 51.60 |
Counties: Chase, Dundy, Frontier, Hayes, Hitchcock, Keith, Lincoln, Perkins, Red Willow