NEBRASKA AGRICULTURAL LAND VALUES 2019

DEPARTMENT OF AGRICULTURAL ECONOMICSUNIVERSITY OF NEBRASKA-LINCOLN

MARCH 13, 2019

Nebraska Farm Real Estate Values Continue Gradual Declines in 2019

Cornhusker Economics - March 13, 2019

Jim JansenAgricultural Economist

University of Nebraska-Lincolnjjansen4@unl.edu

402-261-7572

Jeff StokesHanson-Clegg-Allen Endowed Chair Agricultural Banking and FinanceUniversity of Nebraska-Lincoln

jeffery.stokes@unl.edu402-472-1742

• Annual survey conducted since 1978 of Nebraska agricultural appraisers, professional farm managers, and bankers engaged in the land industry.• Preliminary results for land values and rental rates published the second week of

March.• Full report published the following June.

• Nebraska Farm Real Estate website full access to these resources: https://agecon.unl.edu/realestate

Nebraska Farm Real Estate Survey

Nebraska Agricultural Statistics Districts

Nebraska Agricultural Average All Land Values – Feb. 1, 2019

North$1,060/ac

-3%Northwest

$685/ac-4%

Southwest$1,555/ac

-6%

Central$3,090/ac

-2%

Northeast$5,250/ac

-3%

East$6,185/ac

-1%

Southeast$4,705/ac

-2%

South$3,600/ac

-4%

State$2,650/ac

-3%

Nebraska Agricultural Average All Land Values 1978 - 2019

Nebraska Dryland Cropland (No Irr. Potential) – Feb. 1, 2019

North$1,505/ac

-1%Northwest

$650/ac-3%

Southwest$1,460/ac

-8%

Central$2,750/ac

1%

Northeast$5,300/ac

-4%

East$5,775/ac

2%

Southeast$4,115/ac

-2%

South$2,920/ac

-2%

State$3,045/ac

-2%

Nebraska Dryland Cropland (Irrigation Potential) – Feb. 1, 2019

North$1,905/ac

-4%Northwest

$695/ac-5%

Southwest$1,535/ac

-6%

Central$3,050/ac

-1%

Northeast$5,645/ac

-3%

East$6,140/ac

-2%

Southeast$5,255/ac

-2%

South$3,470/ac

-4%

State$4,005/ac

-3%

Nebraska Grazing Land (Tillable) – Feb. 1, 2019

North$1,040/ac

-3%Northwest

$500/ac-2%

Southwest$910/ac

-4%

Central$1,745/ac

-10%

Northeast$3,165/ac

-5%

East$3,085/ac

-7%

Southeast$2,825/ac

-1%

South$1,895/ac

-3%

State$1,195/ac

-4%

Nebraska Grazing Land (Nontillable) – Feb. 1, 2019

North$630/ac

-2%Northwest

$415/ac-5%

Southwest$745/ac

-5%

Central$1,410/ac

-9%

Northeast$2,000/ac

-6%

East$2,190/ac

-7%

Southeast$1,990/ac

-3%

South$1,340/ac

-8%

State$800/ac

-4%

Nebraska Hayland – Feb. 1, 2019

North$1,190/ac

-6%Northwest

$755/ac-1%

Southwest$1,260/ac

-8%

Central$1,880/ac

-5%

Northeast$3,020/ac

-4%

East$3,175/ac

6%

Southeast$2,650/ac

1%

South$2,000/ac

-3%

State$1,655/ac

-3%

Nebraska Gravity Irrigated Cropland – Feb. 1, 2019

North$3,500/ac

-4%Northwest$2,150/ac

-8%

Southwest$3,715/ac

-5%

Central$5,840/ac

1%

Northeast$6,575/ac

-2%

East$7,600/ac

2%

Southeast$5,910/ac

-6%

South$5,520/ac

-5%

State$5,710/ac

-1%

Nebraska Center Pivot Irrigated Cropland – Feb. 1, 2019

North$3,900/ac

-3%Northwest$2,575/ac

-5%

Southwest$4,030/ac

-6%

Central$6,140/ac

-2%

Northeast$7,270/ac

-1%

East$8,455/ac

-2%

Southeast$7,525/ac

-3%

South$6,320/ac

-3%

State$5,980/ac

-2%

• Please address questions regarding preliminary estimates from the 2019 Nebraska Farm Real Estate Survey to Jim Jansen at (402) 261-7572 or jjansen4@unl.edu

Questions?