The newest Nebraska Farm Real Estate Report shows an increase in agricultural land across the state. The market value of farmland in Nebraska has increased by over 6% this year from 2020, averaging $2,895 an acre.
Agricultural economist and lead author of the study, Jim Jansen said part of the increase can be attributed to current interest rate levels, crop prices, and COVID-19 assistance payments.
"Land serves as the greatest source of wealth for an operation as it makes up the biggest component of their balance sheet. So it is good to see gradual changes in the market value over time.”
The rise in land value is the second consecutive gain in the market since 2019.