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Land Resources / News / Iowa
Farmland Boom Provides Bright Spot for U.S. Midwest Real Estate
Source: Bloomberg, by Brian Louis
The bidders drove over snow- and ice-covered highways for a chance to own one of the most lucrative properties in the U.S. Midwest: 120 acres of farmland in Greene County, Iowa. February 15, 2011 The winner of last month’s auction at St. Joseph’s Parish Center in Jefferson offered $8,200 an acre -- almost $1 million -- for the plot in Scranton Township. That’s 44 percent higher than the $5,701 per-acre estimate for average values in the county as of Nov. 1, according to Iowa State University data.
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