Indiana Farmland Prices Hit Record High In 2021
The Purdue Farmland Value and Cash Rents Survey suggests farmland prices across Indiana have risen to all-time highs in June of 2021. Statewide, top quality farmland averaged $9,785 per acre, up 14.1% from the same time last year. The high growth rate for top-quality farmland was closely followed by the growth in average- and poor-quality farmland prices, which increased by 12.5% (to $8,144) and 12.1% (to $6,441), respectively. Across all land quality classes, 2021 per-acre farmland prices exceeded the previous records set in 2014. “A unique combination of economic forces, including net farm income, expected income growth, crop and livestock prices,
