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Nebraska Farmland Values and Cash Rental Rates

2022 Final Results

Updated June 30, 2022.

For the third consecutive year, the all-land average value in Nebraska rose for the year ending February 1, 2022, to an all-lang average of $3,360 per acre, or about 16% higher than the prior year.

Results are published by region and land type below.

Download Full 2022 Report

Previous Years About the Survey

Nebraska Agriculture Land Studies Fund

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2022 Survey Highlights

The statewide all-land average value for the year ending February 1, 2022 averaged $3,360 per acre, or about a 16% ($465 per acre) increase to the prior year's value of $2,895 per acre (Figure 2).
Rates of increase were the highest in the Northwest, Northeast, East, South, and Southeast Districts as these areas averaged 15% to 21% higher for the all-land average. These Districts trended in-line with the rate of increase of 16% for the state.
Western regions of Nebraska including the North, Central, and Southwest Districts reported smaller increases ranging between 11% to 13%. The North District reported the smallest increase at 11%. Overall, increases across the state range 11% to 21% in 2022.
Panel members reported in 2022 that current crop prices, purchases for farm expansion, and interest rate levels as the major economic forces guiding the market value of land higher across the state. The financial health of current owners and non-farmer investor interest in land purchases as additional positive forces.
The outlook for future gains in farm real estate values remain strong as only three economic forces were noted as somewhat negatively impacting farm real estate values. Property tax levels, farm input costs, and future property tax policies were reported as weighing down on the market.
Based on 2022 market values, the estimated total value of agricultural land and buildings in Nebraska rose to approximately $161.2 billion. Appendix Table 1 gives a historical perspective on the estimated market value of land and related buildings in the state. Between 2021 and2022, the market value increase in agricultural land and building totaled about $22.3 billion.

Webinar: 2022 Nebraska Land Values and Cash Rents

Aug. 4, noon CT

Join Jim Jansen, co-author of the Nebraska Farm Real Estate Report, for a look at the latest trends in cash rental rates and land values across the state.

Values by Region

map

Click a region to jump to the corresponding land value and rental rate information.

Central
East
North
Northeast
Northwest
South
Southeast
Southwest

Map of Nebraska depicting Average Value of Nebraska Farmland, February 1, 2022 and Percent Change From Year Earlier

Average Value of Nebraska Farmland by Land Type
Land Type	$/Acre	%Change
All Land Average	3,360	16
Center Pivot Irrigated Cropland	7,730	17
Gravity Irrigated Cropland	7,055	16
Dryland Cropland (Irrigation Potential)	5,235	19
Dryland Cropland (No Irrigation Potential)	3,900	15
Grazing Land (Tillable)	1,475	13
Grazing Land (Nontillable)	950	10
Hayland	1,895	12

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	3,810	12
Center Pivot Irrigated Cropland	8,095	11
Gravity Irrigated Cropland	7,020	14
Dryland Cropland (Irrigation Potential)	3,855	9
Dryland Cropland (No Irrigation Potential)	3,540	15
Grazing Land (Tillable)	2,160	10
Grazing Land (Nontillable)	1,685	13
Hayland	2,225	12

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	275	17
Gravity Irrigated Cropland	245	14
Dryland Cropland	120	22
Pasture	41	9

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	61.45

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

East

Average Value of Farmland by Land Type
Land Type	$/Acre	% Change
All Land Average	8,110	19
Center Pivot Irrigated Cropland	10,920	15
Gravity Irrigated Cropland	9,440	17
Dryland Cropland (Irrigation Potential)	8,470	24
Dryland Cropland (No Irrigation Potential)	7,525	16
Grazing Land (Tillable)	3,915	16
Grazing Land (Nontillable)	2,730	6
Hayland	3,470	13

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	330	14
Gravity Irrigated Cropland	285	10
Dryland Cropland	235	7
Pasture	55	6

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	58.35

Counties: Butler, Cass, Colfax, Dodge, Douglas, Hamilton, Lancaster, Merrick, Nance, Platte, Polk, Sarpy, Saunders, Seward, Washington, York

North

Average Value of Farmland by Land Type
Land Type	$/Acre	% Change
All Land Average	1,290	11
Center Pivot Irrigated Cropland	4,880	14
Gravity Irrigated Cropland	4,205	11
Dryland Cropland (Irrigation Potential)	2,245	7
Dryland Cropland (No Irrigation Potential)	1,830	11
Grazing Land (Tillable)	1,370	15
Grazing Land (Nontillable)	745	7
Hayland	1,370	14

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	230	9
Gravity Irrigated Cropland	195	8
Dryland Cropland	65	15
Pasture	30	11

Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	67.05

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	6,950	21
Center Pivot Irrigated Cropland	10,135	24
Gravity Irrigated Cropland	8,960	22
Dryland Cropland (Irrigation Potential)	7,485	20
Dryland Cropland (No Irrigation Potential)	6,965	21
Grazing Land (Tillable)	3,645	12
Grazing Land (Nontillable)	2,470	16
Hayland	3,475	8

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	340	11
Gravity Irrigated Cropland	300	7
Dryland Cropland	245	9
Pasture	69	4

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	65.80

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	825	15
Center Pivot Irrigated Cropland	3,065	19
Gravity Irrigated Cropland	2,515	13
Dryland Cropland (Irrigation Potential)	855	12
Dryland Cropland (No Irrigation Potential)	745	17
Grazing Land (Tillable)	625	16
Grazing Land (Nontillable)	510	15
Hayland	830	7

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	175	16
Gravity Irrigated Cropland	130	13
Dryland Cropland	33	11
Pasture	14	7

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	43.15

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	4,375	15
Center Pivot Irrigated Cropland	7,780	13
Gravity Irrigated Cropland	6,865	19
Dryland Cropland (Irrigation Potential)	4,145	15
Dryland Cropland (No Irrigation Potential)	3,485	14
Grazing Land (Tillable)	2,290	15
Grazing Land (Nontillable)	1,575	8
Hayland	2,085	9

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	280	19
Gravity Irrigated Cropland	245	17
Dryland Cropland	100	20
Pasture	40	5

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	51.20

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

Southeast

Average Value of Farmland by Land Type
Land Type	$/Acre	% Change
All Land Average	6,070	16
Center Pivot Irrigated Cropland	9,985	19
Gravity Irrigated Cropland	7,630	14
Dryland Cropland (Irrigation Potential)	6,695	18
Dryland Cropland (No Irrigation Potential)	5,515	12
Grazing Land (Tillable)	3,265	9
Grazing Land (Nontillable)	2,510	17
Hayland	3,125	11

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	315	13
Gravity Irrigated Cropland	260	9
Dryland Cropland	190	12
Pasture	53	8

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	57.40

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	1,805	13
Center Pivot Irrigated Cropland	4,900	18
Gravity Irrigated Cropland	4,155	10
Dryland Cropland (Irrigation Potential)	1,775	10
Dryland Cropland (No Irrigation Potential)	1,560	8
Grazing Land (Tillable)	1,055	11
Grazing Land (Nontillable)	825	9
Hayland	1,535	17

Average Cash Rental Rates by Land Type
Land Type	$/Acre	% Change
Center Pivot Irrigated Cropland	225	15
Gravity Irrigated Cropland	180	6
Dryland Cropland	49	18
Pasture	25	12

Average Monthly Cash Rental Rates for Pasture
Land Type	$/Month
Cow-Calf Pairs	56.70

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

About the Nebraska Farm Real Estate Market Survey

The Nebraska Farm Real Estate Market Survey is an annual survey of land professionals, including appraisers, farm and ranch managers and agricultural bankers. It is conducted by the Center for Agricultural Profitability, which is based in the Department of Agricultural Economics at the University of Nebraska-Lincoln. Results from the survey are divided by land class and agricultural statistic district. Land values and rental rates presented in the report are averages of survey participants' responses by district. Actual land values and rental rates may vary depending upon the quality of the parcel and local market for an area. Preliminary land values and rental rates are subject to change as additional surveys are returned.

state map.

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Source: https://cap.unl.edu/realestate