Get IN EC-257-W 2002-2023

The 2022 average Indiana farm real estate value, including land and buildings, averaged $8,000 per acre, ing to Nathanial Warenski, State Statistician of USDA, NASS, Indiana Field Office. Farm real estate values in Indiana were up 12.7 percent from 2021.

The average price per acre for top-quality farmland in Indiana is $12,808 and $10,598 for average-quality farmland, ing to the Indiana Farmland Value and Cash Rent Survey released in August 2022. Farmland prices rose by 30% on average quality farmland from June 2021 to June 2022.

Like all expenses, cash rents have also jumped in recent years. In Indiana, cash rental rates jumped $25 per acre in 2022. At $252 per acre, rates also passed the previous highs, $232 per acre, hit during the previous farm income boom (2014).

Indiana's cropland cash rent was $212.00 per acre in 2022, up $12.00 from the previous year. Cropland cash rents in the Corn Belt region increased $17.00 from last year to $223.00 per acre.

Statewide, the average price of transitional land was up 36.5% from June 2021, with an average price per acre of $24,240. Recreational land prices grew by 21.8% to an average per acre price of $9,121.

Sale price averaged $1,632 per acre and ranged from $819 to $2,637 (Figure 2). The bare land average value of $712 per A and was estimated by subtracting the allocated timber value from the allocated timber value.

Indiana farmland prices grew at a record pace between June 2021 and June 2022, ing to the recent Indiana Farmland Value and Cash Rent Survey. Statewide, the average per acre price for top quality farmland increased by 30.9% to $12,808 (Table 1).