Jim Jansen is an agricultural economist with the Eastern Nebraska Research and Extension Center. His current outreach efforts focus on farm management and land economics. He conducts the annual UNL Nebraska Farm Real Estate Report and serves as a member of
the extension team providing risk management outreach.
Nebraska crop producers face challenging financial circumstances in 2018 with low commodity prices and the management of rented cropland. Making informed decisions when renting or purchasing cropland becomes even more important with tighter production margins for producers.
The average market value of Nebraska agricultural land declined by 3% over the prior year to $2,745 per acre, according to a preliminary report of of the 2018 Nebraska Farm Real Estate Market Survey. Market values have dropped 17% since reaching a high of $3,315 in 2014.
The 2017 Nebraska Farm Real Estate Report released today estimates total value of agricultural land and buildings in Nebraska fell to approximately $127.7 billion, down $5.6 billion from 2016. In the all-land category the state ag real estate average value was $2,820 per acre or about 9% less than the prior year’s value.
Preliminary findings from the 2017 Nebraska Farm Real Estate Market Survey conducted by the University of Nebraska–Lincoln indicate that as of February 1, 2017, farmland values declined by about 10% over the prior 12-month period to $2,805 per acre. This marks the third consecutive year of decline. Farmland value peaked in 2014 at $3,315 per acre.