The value of an average acre of Iowa farmland declined 3.1% compared to a year ago, according to the 2024 Iowa State University Land Value Survey. This year’s survey, conducted since 1941, pegged the statewide average of Iowa farmland at $11,467 an acre a year end, “ending a five-year streak” of price gains, according to Rhabil Chandio, Extension Economist, who conducts the survey. This year’s survey finds the average value decreased by $369 an acre.