The state average was $2,820 per acre or about a 9 percent ($295 per acre) decline to the prior year’s value of $3,115 per acre.
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Highlights
- The western two-thirds of Nebraska, which includes the Northwest, North, Central, Southwest, and South Districts, averaged around 5 to 10 percent lower. The Northeast, East, and Southwest regions declined between 10 to 15 percent, respectively.
- Survey panel members listed current crop and livestock prices being the most negative factors leading to the decline in the current market value of land. Additional concerns included current property tax levels, farm input costs, and financial health of current owners.
- Panel members were not optimistic about the possibility of future increases in the market value of agricultural land in Nebraska. Non-farmer investor interest in land purchases and 1031 tax exchanges were listed as the only slightly positive factors lending to future land value gains.
- Based on 2017 market values, the estimated total value of agricultural land and buildings in Nebraska fell to approximately $127.7 billion. Between 2016 and 2017, the decline in agricultural land and building values totaled about $5.6 billion.
Average Value of Nebraska Farmland, February 1, 2017 and Percent Change From Year Earlier
State
| Land Type | $/Acre | % Change |
|---|---|---|
All Land Average |
2,820 | -9 |
Center Pivot Irrigated Cropland |
6,295 | -9 |
Gravity Irrigated Cropland |
6,070 | -6 |
Dryland Cropland (Irrigation Potential) |
4,225 | -12 |
Dryland Cropland (No Irrigation Potential) |
3,145 | -9 |
Grazing Land (Tillable) |
1,335 | -11 |
Grazing Land (Nontillable) |
895 | -8 |
Hayland |
1,815 | -8 |
Northwest
| Land Type | $/Acre | % Change |
|---|---|---|
All Land Average |
755 | -8 |
Center Pivot Irrigated Cropland |
2,815 | -14 |
Gravity Irrigated Cropland |
2,580 | -13 |
Dryland Cropland (Irrigation Potential) |
765 | -3 |
Dryland Cropland (No Irrigation Potential) |
715 | -4 |
Grazing Land (Tillable) |
530 | -6 |
Grazing Land (Nontillable) |
465 | -3 |
Hayland |
795 | -11 |
Counties:
Banner
Box Butte
Cheyenne
Dawes
Deuel
Garden
Kimball
Morrill
Scotts Bluff
Sheridan
Scotts Bluff
Sioux
North
Counties
Arthur
Blaine
Boyd
Brown
Cherry
Garfield
Grant
Holt
Hooker
Keya Paha
Logan
Loup
McPherson
Rock
Thomas
Wheeler
Northeast
Counties:
Antelope
Boone
Burt
Cedar
Cuming
Dakota
Dixon
Knox
Madison
Pierce
Stanton
Thurston
Wayne
Central
Counties
Buffalo
Custer
Dawson
Greeley
Hall
Howard
Sherman
Valley
East
Counties
Butler
Cass
Colfax
Dodge
Douglas
Hamilton
Lancaster
Merrick
Nance
Polk
Sarpy
Saunders
Seward
Washington
York
Southwest
Counties
Chase
Dundy
Frontier
Hayes
Hitchcock
Keith
Lincoln
Perkins
Red Willow
South
Counties
Adams
Franklin
Furnas
Gosper
Harlan
Kearney
Phelps
Webster
Southeast
| Land Type | $/Acre | % Change |
|---|---|---|
All Land Average |
4,880 | -14 |
Center Pivot Irrigated Cropland |
7,820 | -15 |
Gravity Irrigated Cropland |
6,615 | -10 |
Dryland Cropland (Irrigation Potential) |
5,390 | -16 |
Dryland Cropland (No Irrigation Potential) |
4,285 | -12 |
Grazing Land (Tillable) |
2,780 | -13 |
Grazing Land (Nontillable) |
2,005 | -9 |
Hayland |
2,680 | -4 |
Counties
Clay
Fillmore
Gage
Jefferson
Johnson
Nemaha
Nuckolls
Otoe
Pawnee
Richardson
Saline
Thayer
Due to the inherent limitations of this survey, 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.