Nebraska average land values since 1970 are plotted in Figure 3. After experiencing unprecedented growth between 2004 and 2014, when growth rates exceeded 10 percent in 9 out of 10 years, land values have cooled.
The USDA estimated Nebraska’s average land value in 2019 was $2,850 per acre, four percent more than 2018. However, the UNL Nebraska Farm Real Estate Market Survey showed land values in 2019 were down three percent. In either case, land values have remained remarkably resilient. This resiliency has helped prop up balance sheets and increase the borrowing capacity of many operations.
Figure 3. Nebraska Average Land Values ($/acre)
Source: USDA Economic Research Service