Farmland Values ‘Steady’ Across Eastern Corn Belt

We all saw the headlines about record prices for farmland not that long ago. Where are farmland prices trending now?

“So, farmland values peaked, all-time high based upon our data, in 2022. That was also the best farm income year in U.S. history,” says Howard Halderman, president of Halderman Real Estate & Farm Management. “So, it stands to reason that we saw high values then. We’ve declined maybe 2%-3% off that all-time high and ’23, ’24, and ‘25 have been very consistent values, very steady over the last three years.”

Halderman adds that, as it stands now, steady is the theme as we move ahead in 2025.

“We’re not moving up significantly in value, but we’re also not declining. Friends of ours in the Western Corn Belt are actually seeing some declines, maybe 5% or 10%. We’re not seeing that yet in the Eastern Corn Belt.”

If we were to see some movement, either to the upside or the downside, Halderman explains what would be behind that move.

“So right now, interest rates are one factor, and I don’t think they move much. I think interest rates are probably going to be staying pretty stable to where they are from what I hear.”

So, it would come down to farm incomes- both the yield and the price.

“I think it’s going to be heavily weighted on commodity prices. Maybe yields to some degree, but assuming an average yield, which is all we can do here on February 1, you’re looking at what commodity prices do, and I think that’s going to be the biggest influence as we go over the next 90 to 180 days.”

You can find auctions and property listings at halderman.com.