Missouri River Property For Sale
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FAQ
He says several factors have driven cropland and pasture value changes, including high commodity prices, low interest rates and proximity to urban areas. In recent years, strong farm revenue contributed to increasing cropland values.
Things to know about an acre of land An acre of land is about the size of a football field. The value of an acre of land varies quite a bit depending on a number of factors. The average cost of land in the contiguous United States is about $12,000 per acre.
Table 1. Agricultural land values per acre, June 2022. State(s)Cropland (dollars)All land and buildings (dollars)Missouri4,3202,400Arkansas3,1102,850Illinois8,9503,700Iowa9,3503,3005 more rows
For reference, let's take a look at the average real estate values for 2023. In Illinois, the average price per acre is $9,300, and Iowa is right there with Illinois at $9,930 per acre. Then in Missouri, the current average is $8,318 per acre.
Values for cropland, pasture, timberland and hunting/recreational land all increased from 2020 to 2021. The value of good nonirrigated Missouri cropland averaged $6,326 per acre in 2021 ? an increase of 14% relative to 2020.