2026 Nebraska Farmland Value Survey
The latest findings from the University of Nebraska–Lincoln Farm Real Estate Market Survey confirm a trend that’s been building: Nebraska agricultural land values have now declined for two consecutive years. Nebraska Extension Ag Economist Jim Jansen says lower crop prices and tighter margins contributed to declines in cropland values.
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[Brad Mills, Program Host]
Nebraska Extension Almanac
For the second year in a row, Nebraska's Ag land value has declined according to extension Ag economists, Jim Janssen. Those values reflect differently according to location and how the land is used. He talks about some of the key factors. Affecting AG real estate values. So in the state of Nebraska, the University of Nebraska Lincoln annually surveys land industry professionals across the state to evaluate changes in land values as well as cash rental rates.
[Jim Jansen, Nebraska Extension Ag Economist]
As part of recent findings from the University of Nebraska Lincoln Center for Agricultural Profitability. Farm real estate market survey and report findings indicated that the overall market value of land decreased approximately 1% to an average of $3,905 an acre, which is about 1% lower than the prior year.
With that being said, the market value of land is composed of two, uh, land classes you might call. One land class is a crop land side, whether irrigated or dry land, crop land. The other type of land is, uh, grazing land and hay land roughly half, a little over half the state is in grazing land or hay land.
The other half is cropland. Now what was reported and some of the trends indicated is the trends in the market value of land are actually reporting the profitability or the profitability expectations surrounding crop land versus grazing land. For example, the average market value of crop land declined slightly one to 2% for dry land cropland with or without irrigation potential, and maybe even a little bit more than that for the irrigated, for center pivot or, or, um.
Gravity irrigated cropland, which those declined about two to 3%. Now, for grazing land, which the profitability is a little bit different for the cow calf folks, or at least the expectation is that prices are fairly high and expectation. We might see fairly favorable prices for the fall of 2026 when one might consider selling cattle, or maybe after the first of the year if you choose to hold them that long.
We've seen an increase anywhere from five to 7%. Now that reflects a lot of a difference in the market value of land. So it's important when we're talking about the market value of land, what type of land are we reporting on, and also what area of the state are you in? Differences in the presence of livestock, even on the crop land side, when folks are having a good year on the, um, cattle side of, uh, cow calf peas.
Or if you're in the feedlot business, you might see some of those values get reflected in. Potential buyers buying land or evaluating land purchases in an area. So for the upcoming year, things to be keeping an eye on is where interest rates headed. That influences the cost of long-term borrowing, where input expenses headed seed, fertilizer, chemical on the cropland side, fuels also in consideration even for the cow calf folks.
And herbicide, yes, on if you raise hay or. Got, uh, grazing land, you might use various, uh, types of herbicides for things like that. And also the price of seed if you're on the cropland side, where, where's profitability headed. So we have to keep an eye on that. And obviously we're having a lot of challenges right now related to fire damages on, uh, some of the acreage that was unfortunately, uh, burned in the western part of the state.
What does recovery look like for that? And also what does profitability look like for the cow calf folks? So there's a lot of things to be keeping an eye on and unfortunately it looks like this year might be a dry year, and hopefully I'm wrong in saying that. And we start getting adequate moisture. I think everybody is short moisture to some degree, and, uh, small rainfall of any amount at this point would definitely help some of those folks in their recovery efforts.
Or even if you're on the grazing land side, uh, helping get some of that spring vegetation started growing. That'd be very useful. So to find more information on the Nebraska Farm Real Estate Market Survey and Report, visit the Center for Agricultural Profitability website at cap.unl.edu/realestate, no space real estate in one word for Nebraska Extension Almanac.
[Brad Mills, Program Host]
For Nebraska Extension Almanac, I'm Brad Mills, Nebraska Extension Almanac is a production of IANR Media Nebraska Extension. For more information on how your university is serving Nebraskans. Go to extension.unl.edu.
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