Nebraska Farm Real Estate Report

Nebraska Farm at twilight.

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

Contact

Jim Jansen
402-261-7572
jjansen4@unl.edu

Nebraska Agriculture Land Studies Fund

Interested in helping support the Nebraska Farm Real Estate Survey & Report? Please consider donating to help cover future expenses.

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 and 2022, 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.

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Values by Region

map

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

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. Northwest North Northeast Southwest Central South Southeast East