Date of this Version
The market value of agricultural land in Nebraska declined by three percent over the prior year to an average of $2,650 per acre according to the 2019 Nebraska Farm Real Estate Market Survey (Figure 1 and Table 1). This marks the fifth consecutive year of downward pressure as market values have dropped approximately 20 percent since reaching a high of $3,315 in 2014.
The University of Nebraska-Lincoln Department of Agricultural Economics annually surveys Nebraska land professionals including appraisers, farm and ranch managers, and agricultural bankers. Results from the survey are divided by land class and summarized by the eight Agricultural Statistic Districts of Nebraska (Figure 2).
Land industry professionals participating in the annual survey reported current trade and property tax policies as two of the most negative forces influencing agricultural real estate in Nebraska. Concerns among many land owners across Nebraska relate to current commodity prices and property ownership expenses. Many farmers and ranchers in the state look to policy changes in 2019 for better operator margins and long-term stability.