2019 Nebraska Farm Real Estate Report

Corn field at sunset
The all-land average value in Nebraska for the year ending February 1, 2019 averaged about 3 percent lower than the year before. This marks five consecutive years of declining land values.

The state average was $2,645 per acre or about a $75 per acre decline to the prior year’s value of $2,720 per acre.

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Contact

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

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Highlights

  • Rates of decline were lower in the eastern third and central region of Nebraska compared to the western two-thirds of the state.
  • In the western regions of Nebraska, including the Northwest, North, Southwest, and South Districts these areas averaged from 4 to 6 percent lower for the all-land average. The Northeast, Central, East, South, and Southwest Districts declined slightly from 1 to 3 percent.
  • Panel members reported in 2019 current crop prices, property tax levels and farm input costs as the most negative forces leading to the lower market value of land across.
  • Based on 2019 market values, the estimated total value of agricultural land and buildings in Nebraska fell to approximately $125.3 billion. Between 2018 and 2019, the market value decline in agricultural land and building totaled about $3.6 billion.
Map of Nebraska depicting Average Value of Nebraska Farmland, February 1, 2019 and Percent Change From Year Earlier
Average Value of Nebraska Farmland by Land Type
Land Type $/Acre %Change
All Land Average 2,645 -3
Center Pivot Irrigated Cropland 5,970 -3
Gravity Irrigated Cropland 5,690 -2
Dryland Cropland (Irrigation Potential) 4,010 -3
Dryland Cropland (No Irrigation Potential) 3,040 -2
Grazing Land (Tillable) 1,185 -5
Grazing Land (Nontillable) 795 -5
Hayland 1,615 -6

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 3,090 -2
Center Pivot Irrigated Cropland 6,390 -2
Gravity Irrigated Cropland 5,860 1
Dryland Cropland (Irrigation Potential) 3,055 -1
Dryland Cropland (No Irrigation Potential) 2,755 1
Grazing Land (Tillable) 1,750 -10
Grazing Land (Nontillable) 1,405 -9
Hayland 1,885 -5
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 215 -2
Gravity Irrigated Cropland 195 -5
Dryland Cropland 84 -5
Pasture 31 -5

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 50.70
Stockers 30.85

Counties: Buffalo, Custer, Dawson, Greeley, Hall, Howard, Sherman, Valley



East

Average Value of Farmland by Land Type
Land Type $/Acre % Change
All Land Average 6,185 -1
Center Pivot Irrigated Cropland 8,485 -2
Gravity Irrigated Cropland 7,585 2
Dryland Cropland (Irrigation Potential) 6,145 -2
Dryland Cropland (No Irrigation Potential) 5,765 2
Grazing Land (Tillable) 3,075 -8
Grazing Land (Nontillable) 2,255 -4
Hayland 3,040 2
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 285 2
Gravity Irrigated Cropland 245 -4
Dryland Cropland 200 5
Pasture 47 -3

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 49.15
Stockers 36.05

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 1,050 -4
Center Pivot Irrigated Cropland 3,905 -3
Gravity Irrigated Cropland 3,570 -2
Dryland Cropland (Irrigation Potential) 1,915 -4
Dryland Cropland (No Irrigation Potential) 1,495 -1
Grazing Land (Tillable) 1,040 -3
Grazing Land (Nontillable) 625 -2
Hayland 1,140 -10
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 185 -8
Gravity Irrigated Cropland 165 -3
Dryland Cropland 50 -6
Pasture 24 -6

Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 57.50
Stockers 33.55

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 5,230 -3
Center Pivot Irrigated Cropland 7,210 -1
Gravity Irrigated Cropland 6,510 -3
Dryland Cropland (Irrigation Potential) 5,300 -4
Dryland Cropland (No Irrigation Potential) 5,640 -3
Grazing Land (Tillable) 3,125 -6
Grazing Land (Nontillable) 1,995 -7
Hayland 3,020 -4
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 280 -3
Gravity Irrigated Cropland 255 -2
Dryland Cropland 205 -2
Pasture 59 -4

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 54.90
Stockers 37.40

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 680 -5
Center Pivot Irrigated Cropland 2,565 -5
Gravity Irrigated Cropland 2,245 -4
Dryland Cropland (Irrigation Potential) 680 -7
Dryland Cropland (No Irrigation Potential) 645 -4
Grazing Land (Tillable) 500 -2
Grazing Land (Nontillable) 410 -6
Hayland 710 -7
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 145 -3
Gravity Irrigated Cropland 110 -4
Dryland Cropland 27 -4
Pasture 11 1

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 36.15
Stockers 22.80

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 3,535 -6
Center Pivot Irrigated Cropland 6,150 -6
Gravity Irrigated Cropland 5,365 -7
Dryland Cropland (Irrigation Potential) 3,450 -5
Dryland Cropland (No Irrigation Potential) 2,880 -3
Grazing Land (Tillable) 1,875 -4
Grazing Land (Nontillable) 1,335 -9
Hayland 1,990 -3
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 205 -5
Gravity Irrigated Cropland 190 -5
Dryland Cropland 73 -4
Pasture 34 -5

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 44.10
Stockers 31.30

Counties: Adams, Franklin, Furnas, Gosper, Harlan, Kearney, Phelps, Webster

Southeast

Average Value of Farmland by Land Type
Land Type $/Acre % Change
All Land Average 4,700 -2
Center Pivot Irrigated Cropland 7,470 -3
Gravity Irrigated Cropland 5,900 -6
Dryland Cropland (Irrigation Potential) 5,265 -1
Dryland Cropland (No Irrigation Potential) 4,130 -2
Grazing Land (Tillable) 2,760 -3
Grazing Land (Nontillable) 1,970 -4
Hayland 2,645 1
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 250 -4
Gravity Irrigated Cropland 220 -2
Dryland Cropland 155 -3
Pasture 46 -1

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 45.15
Stockers 35.25

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 1,565 -5
Center Pivot Irrigated Cropland 4,110 -4
Gravity Irrigated Cropland 3,700 -5
Dryland Cropland (Irrigation Potential) 1,585 -3
Dryland Cropland (No Irrigation Potential) 1,445 -9
Grazing Land (Tillable) 880 -7
Grazing Land (Nontillable) 735 -6
Hayland 1,255 -8
Average Cash Rental Rates by Land Type
Land Type $/Acre % Change
Center Pivot Irrigated Cropland 175 -8
Gravity Irrigated Cropland 155 -6
Dryland Cropland 38 -7
Pasture 19 -7

Average Monthly Cash Rental Rates for Pasture
Land Type $/Month
Cow-Calf Pairs 46.35
Stockers 34.65

Counties: Chase, Dundy, Frontier, Hayes, Hitchcock, Keith, Lincoln, Perkins, Red Willow