Indiana Land Values Report & Purdue PAER July 2020
By Shelley Swearingen | July 23, 2020
The much anticipated quarterly issue of the Purdue Agricultural Economics Report was released this morning with the complete survey results of farm and land values across the state of Indiana – Read the report in its entirety HERE.
Uncertainty is definite due to the COVID-19 pandemic, but Indiana land values remain strong. We saw increases in farmland prices statewide, but these were reported from June to December 2019.
We see a slight decline in farmland values since December 2020, and this is most likely due to the pandemic. Based on the survey results reported by Purdue University Agricultural Economics report (PAER land value survey and cash rents report) Future land values and farmland prices across the state are expected to decline: 1.5% for top quality land, 2% for average quality land, and 3% for poor quality land.
Farmland values and average price per acre were reported highest in the West Central region: Benton county, White county, Carroll county, Warren county, Tippecanoe county, Fountain county, Vermilion county, Montgomery county, Parke county, and Putnam county.
*Data and text pulled directly from Purdue Agricultural Economics Report. Graphic created by author.
The number one concern from those surveyed is the pandemic’s economic effects and how this will relate to the market.
Purdue Agricultural Economics Report | July 2020
“Low inventory of land for sale and an influx of buyer and investors of farmland real estate has contributed to stable land prices and strong price per acre in West Central, Indiana”
– Johnny Klemme | Land Broker & Advisor
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