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S.E. Iowa | Land in Iowa is much easier to value than in other parts of the country. All farm units here have a CSR (corn suitability rating), CSR is rating for each type of soil and its ability to produce different crops. The rating goes 0-100, by taking the soil rating times the acres for the soil dividing total acres you come up with a wieghted average for the farm. If your paying rent of 2.50 per csr point for ground with a 90 csr that has a 200 bu/acre average yield your paying $225/acre a farm with 72 csr and a potiential of only 172 bu/a you would pay $180/a Same goes for buying land . Currently land seems to be priced arround us at $55-$70 a CSR point when it goes to auction. Some of the higher numbers come from 2 guys wanting it real bad for the most part $60 seems to catch majority of sales | |
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land value?
