Annual survey offers critical insights into farmland value trends across Missouri

Missouri landowners, agricultural lenders, rural appraisers and others with firsthand knowledge of acreage transactions are invited to respond to the annual Missouri Farmland Value Opinion Survey.

This University of Missouri Extension survey captures information on land sales that have occurred in the calendar year, including those for crops, pasture, timber, recreational and hunting land.
The survey complements USDA’s National Agricultural Statistics Service (NASS) data to help provide a more accurate glimpse into land value trends in Missouri.

The 2023 survey included more than 300 responses and revealed significant increases in farmland values, with the highest rise (14%) seen in hunting and recreational land. Good nonirrigated cropland stood at a statewide average of $8,631 per acre, while irrigated cropland was estimated at a statewide average of $9,678 per acre.

Respondents of the 2023 survey said they expected land prices to increase in 2024, particularly in the western region of Missouri. Results from the 2024 survey will be broken into regional estimates based upon category and will be publicly available on the MU Extension website along with survey results from previous years at extension.missouri.edu/publications/g401.

The anonymous survey takes about 5-10 minutes to complete and can be accessed at muext.us/landvaluesurvey24. Deadline for response is Aug. 15.

CLICK TO READ MORE of this August / September Today's Farmer magazine issue.