BENTON COUNTY, INDIANA
West Central Indiana continues to maintain top land values in the state with an average price per acre of over $9,000 per acre. Some farms in 2015 sold well over $10,00 per acre. As the economics of farming shift, so do farmland values. In 2015 we saw commodity prices remain low, inputs remained high (with minor price drops), cash rents came down to some degree and all of the lower profitability of farming contributed to the downward adjustment of farmland prices.
While many top-quality tillable acres sold for over $10,000 per acre in 2015, average and marginal quality farm ground saw a greater adjustment in the price. As profitability forecasts for 2016 look to remain lower, we may continue to see further drops in the price per acre of farmland.
All said, high quality agricultural farmland in the right location may still bring over $10,000 per acre and we’ll report more in the very near future!