Nebraska Farm Real Estate Report

Nebraska Farmland Values and Cash Rental Rates

2023 Final Results

The February 1, 2023, Nebraska all-land average value of $3,835 per acre marks a 14% increase from the prior year. This marks the second-largest increase in the market value of agricultural land since 2014 and the highest non-inflation-adjusted statewide land value in the survey’s history.

Results are published by region and land type below.

2023 Full Report PDF

Previous Years Reports  About the Survey

2023 Survey Highlights

  • The statewide all-land average value for the year ending February 1, 2023, averaged $3,835 per acre, or about a 14% ($475 per acre) increase from the prior year’s value of $3,360 per acre.
  • Rates of increase were the highest in the northeast, east, and southeast districts, as these areas averaged 15% to 17% higher than the all-land average. These districts trended slightly higher than the rate of increase of 14% for the state.
  • Western regions of Nebraska, including the northwest, north, central, southwest, and south districts, reported smaller increases ranging between 10% to 13%. The central district reported the smallest increase at 10%. Overall, increases across the state range from 10% to 17% in 2023.
  • Panel members reported in 2023 that current crop prices, purchases for farm expansion, and non-farmer investor interest in land purchases as major economic forces guiding the market value of land higher across the state. Current crop prices and the financial health of current owners as additional positive forces. 
  • The outlook for future gains in farm real estate values remains relatively strong as only four economic forces were noted as somewhat negatively impacting farm real estate values. Interest rate levels, property tax levels, farm input expenses and future property tax policies were reported as weighing down on the market.
  • Based on 2023 market values, Nebraska’s estimated total value of agricultural land and buildings rose to approximately $191.8 billion. Between 2022 and 2023, the market value increase in agricultural land and buildings totaled about $23.8 billion.

Values by Region

map of Nebraska land values.
Land Type$/Acre%Change
All Land Average3,83514
Center Pivot Irrigated Cropland8,76013
Gravity Irrigated Cropland7,90512
Dryland Cropland (Irrigation Potential)6,07016
Dryland Cropland (No Irrigation Potential)4,39513
Grazing Land (Tillable)1,68014
Grazing Land (Nontillable)1,09015
Due to the inherent limitations of this survey, the information in this report should not be used to set a specific rental rate or value a particular parcel of real property for sale or property taxes, security for a loan, and other related legal matters.


Land Type$/Acre% Change
All Land Average4,21010
Center Pivot Irrigated Cropland8,89510
Gravity Irrigated Cropland7,2353
Dryland Cropland (Irrigation Potential)4,25510
Dryland Cropland (No Irrigation Potential)3,8308
Grazing Land (Tillable)2,62021
Grazing Land (Nontillable)2,03020
Land Type$/Acre% Change
Center Pivot Irrigated Cropland30511
Gravity Irrigated Cropland27010
Dryland Cropland13512
Land Type$/Month
Cow-Calf Pairs66.70

Counties: Buffalo, Custer, Dawson, Greeley, Hall, Howard, Sherman, Valley


Land Type$/Acre% Change
All Land Average9,32015
Center Pivot Irrigated Cropland12,97019
Gravity Irrigated Cropland11,29020
Dryland Cropland (Irrigation Potential)9,53513
Dryland Cropland (No Irrigation Potential)8,36511
Grazing Land (Tillable)4,61518
Grazing Land (Nontillable)2,8655
Land Type$/Acre% Change
Center Pivot Irrigated Cropland3455
Gravity Irrigated Cropland3057
Dryland Cropland2454
Land Type$/Month
Cow-Calf Pairs62.55

Counties: Butler, Cass, Colfax, Dodge, Douglas, Hamilton, Lancaster, Merrick, Nance, Platte, Polk, Sarpy, Saunders, Seward, Washington, York


Land Type$/Acre% Change
All Land Average1,45012
Center Pivot Irrigated Cropland5,0654
Gravity Irrigated Cropland4,4556
Dryland Cropland (Irrigation Potential)2,3655
Dryland Cropland (No Irrigation Potential)1,9607
Grazing Land (Tillable)1,55013
Grazing Land (Nontillable)87017
Land Type$/Acre% Change
Center Pivot Irrigated Cropland2405
Gravity Irrigated Cropland2108
Dryland Cropland7617
Land Type$/Month
Cow-Calf Pairs69.80

Counties: Arthur, Blaine, Boyd, Brown, Cherry, Garfield, Grant, Holt, Hooker, Keya Paha, Logan, Loup, McPherson, Rock, Thomas, Wheeler


Land Type$/Acre% Change
All Land Average8,03516
Center Pivot Irrigated Cropland11,71016
Gravity Irrigated Cropland9,8009
Dryland Cropland (Irrigation Potential)8,89019
Dryland Cropland (No Irrigation Potential)7,84513
Grazing Land (Tillable)4,18515
Grazing Land (Nontillable)2,6959
Land Type$/Acre% Change
Center Pivot Irrigated Cropland3657
Gravity Irrigated Cropland3155
Dryland Cropland2659
Land Type$/Month
Cow-Calf Pairs67.35

Counties: Antelope, Boone, Burt, Cedar, Cuming, Dakota, Dixon, Knox, Madison, Pierce, Stanton, Thurston, Wayne


Land Type$/Acre% Change
All Land Average93513
Center Pivot Irrigated Cropland3,2807
Gravity Irrigated Cropland2,76010
Dryland Cropland (Irrigation Potential)98515
Dryland Cropland (No Irrigation Potential)90521
Grazing Land (Tillable)73518
Grazing Land (Nontillable)57513
Land Type$/Acre% Change
Center Pivot Irrigated Cropland1909
Gravity Irrigated Cropland14512
Dryland Cropland3710
Land Type$/Month
Cow-Calf Pairs46.05

Counties: Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan, Sioux


Land Type$/Acre% Change
All Land Average4,85011
Center Pivot Irrigated Cropland8,3708
Gravity Irrigated Cropland7,82014
Dryland Cropland (Irrigation Potential)4,5359
Dryland Cropland (No Irrigation Potential)3,99015
Grazing Land (Tillable)2,59513
Grazing Land (Nontillable)1,6857
Land Type$/Acre% Change
Center Pivot Irrigated Cropland31513
Gravity Irrigated Cropland2606
Dryland Cropland11515
Land Type$/Month
Cow-Calf Pairs56.85

Counties: Adams, Franklin, Furnas, Gosper, Harlan, Kearney, Phelps, Webster


Land Type$/Acre% Change
All Land Average7,09017
Center Pivot Irrigated Cropland11,41514
Gravity Irrigated Cropland8,48511
Dryland Cropland (Irrigation Potential)8,11021
Dryland Cropland (No Irrigation Potential)6,42517
Grazing Land (Tillable)3,4606
Grazing Land (Nontillable)2,75010
Land Type$/Acre% Change
Center Pivot Irrigated Cropland3356
Gravity Irrigated Cropland29011
Dryland Cropland2005
Land Type$/Month
Cow-Calf Pairs60.20

Counties: Clay, Fillmore, Gage, Jefferson, Johnson, Nemaha, Nuckolls, Otoe, Pawnee, Richardson, Saline, Thayer


Land Type$/Acre% Change
All Land Average2,02512
Center Pivot Irrigated Cropland5,49512
Gravity Irrigated Cropland4,3505
Dryland Cropland (Irrigation Potential)2,08017
Dryland Cropland (No Irrigation Potential)1,72010
Grazing Land (Tillable)1,1509
Grazing Land (Nontillable)94515
Land Type$/Acre% Change
Center Pivot Irrigated Cropland2302
Gravity Irrigated Cropland1959
Dryland Cropland5613
Land Type$/Month
Cow-Calf Pairs58.60

Counties: Chase, Dundy, Frontier, Hayes, Hitchcock, Keith, Lincoln, Perkins, Red Willow

About the Nebraska Farm Real Estate Market Survey

The Nebraska Farm Real Estate Market Survey is an annual survey of land professionals, including appraisers, farm and ranch managers, and agricultural bankers. It is conducted by the Center for Agricultural Profitability, which is based in the Department of Agricultural Economics at the University of Nebraska-Lincoln. Results from the survey are divided by land class and agricultural statistic district. Land values and rental rates presented in the report are averages of survey participants’ responses by district. Actual land values and rental rates may vary depending upon the quality of the parcel and local market for an area. Preliminary land values and rental rates are subject to change as additional surveys are returned.

Click here to read the full article on the University of Nebraska Lincoln website.