Nebraska Farm Real Estate Report

Nebraska Farm at twilight.

Nebraska Farmland Values and Cash Rental Rates

Note: Survey responses are currently being collected for the 2024 Nebraska Farm Real Estate Report. The preliminary report will published in mid-March and the final report will be issued by the end of June. Check back here for those updates.

2023 Final Results

Updated June 30, 2023.

The February 1, 2023, Nebraska all-land average value of $3,835 per acre marks a 14% increase from the prior year. This marks the second-largest increase in the market value of agricultural land since 2014 and the highest non-inflation-adjusted statewide land value in the survey's history.

Results are published by region and land type below.

2023 Full Report PDF

Previous Years Reports 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.

2023 Survey Highlights

  • The statewide all-land average value for the year ending February 1, 2023, averaged $3,835 per acre, or about a 14% ($475 per acre) increase from the prior year’s value of $3,360 per acre.
  • Rates of increase were the highest in the northeast, east, and southeast districts, as these areas averaged 15% to 17% higher than the all-land average. These districts trended slightly higher than the rate of increase of 14% for the state.
  • Western regions of Nebraska, including the northwest, north, central, southwest, and south districts, reported smaller increases ranging between 10% to 13%. The central district reported the smallest increase at 10%. Overall, increases across the state range from 10% to 17% in 2023.
  • Panel members reported in 2023 that current crop prices, purchases for farm expansion, and non-farmer investor interest in land purchases as major economic forces guiding the market value of land higher across the state. Current crop prices and the financial health of current owners as additional positive forces. 
  • The outlook for future gains in farm real estate values remains relatively strong as only four economic forces were noted as somewhat negatively impacting farm real estate values. Interest rate levels, property tax levels, farm input expenses and future property tax policies were reported as weighing down on the market.
  • Based on 2023 market values, Nebraska's estimated total value of agricultural land and buildings rose to approximately $191.8 billion. Between 2022 and 2023, the market value increase in agricultural land and buildings totaled about $23.8 billion.

Values by Region

map of Nebraska land values.

Average Value of Nebraska Farmland by Land Type
Land Type$/Acre%Change
All Land Average 3,835 14
Center Pivot Irrigated Cropland 8,760 13
Gravity Irrigated Cropland 7,905 12
Dryland Cropland (Irrigation Potential) 6,070 16
Dryland Cropland (No Irrigation Potential) 4,395 13
Grazing Land (Tillable) 1,680 14
Grazing Land (Nontillable) 1,090 15
Hayland 2,210 17

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

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 4,210 10
Center Pivot Irrigated Cropland 8,895 10
Gravity Irrigated Cropland 7,235 3
Dryland Cropland (Irrigation Potential) 4,255 10
Dryland Cropland (No Irrigation Potential) 3,830 8
Grazing Land (Tillable) 2,620 21
Grazing Land (Nontillable) 2,030 20
Hayland 2,605 17

Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 305 11
Gravity Irrigated Cropland 270 10
Dryland Cropland 135 12
Pasture 46 13

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 66.70


Counties: Buffalo, Custer, Dawson, Greeley, Hall, Howard, Sherman, Valley

East

Average Value of Farmland by Land Type
Land Type$/Acre% Change
All Land Average 9,320 15
Center Pivot Irrigated Cropland 12,970 19
Gravity Irrigated Cropland 11,290 20
Dryland Cropland (Irrigation Potential) 9,535 13
Dryland Cropland (No Irrigation Potential) 8,365 11
Grazing Land (Tillable) 4,615 18
Grazing Land (Nontillable) 2,865 5
Hayland 3,980 15
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 345 5
Gravity Irrigated Cropland 305 7
Dryland Cropland 245 4
Pasture 60 9

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 62.55


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$/Acre% Change
All Land Average 1,450 12
Center Pivot Irrigated Cropland 5,065 4
Gravity Irrigated Cropland 4,455 6
Dryland Cropland (Irrigation Potential) 2,365 5
Dryland Cropland (No Irrigation Potential) 1,960 7
Grazing Land (Tillable) 1,550 13
Grazing Land (Nontillable) 870 17
Hayland 1,680 23
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 240 5
Gravity Irrigated Cropland 210 8
Dryland Cropland 76 17
Pasture 33 10

Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 69.80


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$/Acre% Change
All Land Average 8,035 16
Center Pivot Irrigated Cropland 11,710 16
Gravity Irrigated Cropland 9,800 9
Dryland Cropland (Irrigation Potential) 8,890 19
Dryland Cropland (No Irrigation Potential) 7,845 13
Grazing Land (Tillable) 4,185 15
Grazing Land (Nontillable) 2,695 9
Hayland 3,845 11
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 365 7
Gravity Irrigated Cropland 315 5
Dryland Cropland 265 9
Pasture 72 4

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 67.35


Counties: Antelope, Boone, Burt, Cedar, Cuming, Dakota, Dixon, Knox, Madison, Pierce, Stanton, Thurston, Wayne

Northwest

Average Value of Farmland by Land Type
Land Type$/Acre% Change
All Land Average 935 13
Center Pivot Irrigated Cropland 3,280 7
Gravity Irrigated Cropland 2,760 10
Dryland Cropland (Irrigation Potential) 985 15
Dryland Cropland (No Irrigation Potential) 905 21
Grazing Land (Tillable) 735 18
Grazing Land (Nontillable) 575 13
Hayland 930 12
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 190 9
Gravity Irrigated Cropland 145 12
Dryland Cropland 37 10
Pasture 15 7

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 46.05


Counties: Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan, Sioux

South

Average Value of Farmland by Land Type
Land Type$/Acre% Change
All Land Average 4,850 11
Center Pivot Irrigated Cropland 8,370 8
Gravity Irrigated Cropland 7,820 14
Dryland Cropland (Irrigation Potential) 4,535 9
Dryland Cropland (No Irrigation Potential) 3,990 15
Grazing Land (Tillable) 2,595 13
Grazing Land (Nontillable) 1,685 7
Hayland 2,270 9
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 315 13
Gravity Irrigated Cropland 260 6
Dryland Cropland 115 15
Pasture 41 2

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 56.85


Counties: Adams, Franklin, Furnas, Gosper, Harlan, Kearney, Phelps, Webster

Southeast

Average Value of Farmland by Land Type
Land Type$/Acre% Change
All Land Average 7,090 17
Center Pivot Irrigated Cropland 11,415 14
Gravity Irrigated Cropland 8,485 11
Dryland Cropland (Irrigation Potential) 8,110 21
Dryland Cropland (No Irrigation Potential) 6,425 17
Grazing Land (Tillable) 3,460 6
Grazing Land (Nontillable) 2,750 10
Hayland 3,695 18
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 335 6
Gravity Irrigated Cropland 290 11
Dryland Cropland 200 5
Pasture 56 5

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 60.20


Counties: Clay, Fillmore, Gage, Jefferson, Johnson, Nemaha, Nuckolls, Otoe, Pawnee, Richardson, Saline, Thayer

Southwest

Average Value of Farmland by Land Type
Land Type$/Acre% Change
All Land Average 2,025 12
Center Pivot Irrigated Cropland 5,495 12
Gravity Irrigated Cropland 4,350 5
Dryland Cropland (Irrigation Potential) 2,080 17
Dryland Cropland (No Irrigation Potential) 1,720 10
Grazing Land (Tillable) 1,150 9
Grazing Land (Nontillable) 945 15
Hayland 1,755 14
Average Cash Rental Rates by Land Type
Land Type$/Acre% Change
Center Pivot Irrigated Cropland 230 2
Gravity Irrigated Cropland 195 9
Dryland Cropland 56 13
Pasture 26 6

Average Monthly Cash Rental Rates for Pasture
Land Type$/Month
Cow-Calf Pairs 58.60


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.