Nebraska Farmland Values and Cash Rental Rates
2021 Final Results
The market value of agricultural land in Nebraska increased 6% over the prior year to an average of $2,895 per acre, according to the final report from the University of Nebraska–Lincoln’s 2021 Nebraska Farm Real Estate Market Survey.
Results are published by region and land type below.
2021 Final Report PDF
Previous Years
Highlights
- Land industry professionals responding to the annual survey attributed the rise in Nebraska farm real estate values to current interest rate levels, crop prices, and COVID-19 disaster assistance payments provided to operators across the state.
- Operators faced an exceptional amount of risk and uncertainty when navigating production decisions during the height of the COVID-19 pandemic. Lower interest rates and disaster assistance payments provided stability to an industry facing an economic shutdown and disruptions of supply chains.
- The estimated market value of center pivot irrigated cropland rose by about 8% across the state.
- Dryland cropland without irrigation potential reported an increase of about 7%.
- Dryland cropland with irrigation potential showed a renewed interest with higher commodity prices. This land class indicated a 6% increase for the state.
- Improvements in grazing land and hayland market values range around 3% to 5%.
- Cropland and grazing land rental rates in 2021 were higher than those reported in the prior year. Reports by survey participants indicate higher crop prices are a driving force for the higher rates.
Average Value of Nebraska Farmland by Land Type
| Land Type | $/Acre | %Change |
|---|
| All Land Average |
3,360 |
16 |
| Center Pivot Irrigated Cropland |
7,735 |
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 |
8,105 |
12 |
| Gravity Irrigated Cropland |
7,015 |
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) |
2,720 |
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, 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 |
4,890 |
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 |
2,520 |
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
