The value of an acre of Nebraska agriculture land eased 2% as of February of 2025, according to the annual survey conducted by the University of Nebraska — Lincoln.
The small decline is the first since the values reached a record non-inflation-adjusted statewide value of $4,015 an acre last year. This year’s dip follows five years of gains.
Survey respondents say lower crop prices along with higher input and interest rate costs drove the price slippage.
The value of dryland cropland without irrigation potential decreased 2%. Dryland cropland with irrigation potential declined 3%. Center pivot irrigated cropland averaged 4% lower. Modest losses also extended to gravity irrigated cropland, with an average decrease of 5% in 2025.
Grazing and hayland values increased from 1% to 5%. Nontillable grazing land led the three land classes with a 5% gain. Hayland followed with an increase of 3%. Tillable grazing land follows with a 6% gain. Cow-calf producers capitalized higher calf prices into these three land classes across the state.
Cash rental rates for dryland and irrigated cropland reportedly declined 1% to 7%.