UNL releases preliminary farm real estate market survey results for Northwest Nebraska

 By Ryan Evans, Jim Jansen, and Jessica Groskopf

 The value of agricultural land in Nebraska declined 1% over the past year to an average of $3,905 per acre as of Feb. 1, 2026, according to the preliminary report from the University of Nebraska–Lincoln’s 2025-26 Farm Real Estate Market Survey. It is the second consecutive year of declining land values since the market reached $4,015 per acre in 2024.

 The survey’s preliminary report was published on March 18 by the university’s Center for Agricultural Profitability, based in the Department of Agricultural Economics. It provides current estimates of agricultural land values and cash rental rates, broken down by region and land class across Nebraska.

 Land industry professionals who participated in this year’s survey attributed the decline to lower crop prices, higher farm input costs, and prevailing interest rates.

 “Many operations are facing tighter liquidity as crop revenues decline while input costs remain elevated,” said Jim Jansen, extension agricultural economist who leads the annual survey and report. “Those conditions are leading producers and lenders to take a more cautious approach when navigating these financial pressures.”

 Crop receipts in Nebraska declined by about $576.6 million, or 16%, in 2025 as corn prices fell and soybean and wheat production dropped. Those losses were partially offset by a $3.22 billion increase in livestock receipts statewide. Jansen said the differences in crop and livestock profitability were reflected in land value trends across the state.

 The 2026 preliminary results revealed the average farmland value in the Northwest region was 1% higher, to $970 per acre, for the reporting year ending Feb. 1, 2026. The Northwest region includes Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan, and Sioux counties.

TABLE ONE

 Table 1 reports the eight major types of land reported in the survey and the average value of each type for the Northwest region.

TABLE TWO

 Beyond land values, cash rental rates are often the most closely watched results in the survey. Table 2 shows the reported cash rental rates for various types of land for the Northwest region. Values are reported in dollars per acre unless otherwise noted. Actual agricultural land values or rental rates for an individual parcel will vary from reported figures depending on the area’s quality attributes and local market forces.

 “Landowners and producers can use this survey as a resource when discussing 2026 rental terms,” said Panhandle Extension agricultural economist Jessica Groskopf. “That said, crop-share leases remain more common in the Northwest District than cash rent on cropland.”

 Learn about Nebraska land values, cash rents, lease strategies, and farm succession during a March 24 webinar from 9 to 11:30 a.m. Central (8 to 10:30 a.m. Mountain), which will also include audience Q&A. Register at: https://cap.unl.edu/land26/

 The Nebraska Farm Real Estate Market Report is the product of an annual survey of land professionals, including appraisers, farm and ranch managers, and agricultural bankers. Results are divided by land class and agricultural statistics district. Land values and rental rates in the report are averages of survey participants’ responses by district. Actual land values and rental rates may vary depending on the quality of the parcel and local market for an area. Preliminary land values and rental rates are subject to change as additional surveys are returned. The final version of the report will be published in July.

 To view the complete report, visit: https://cap.unl.edu/realestate or contact Jessica Groskopf, 308-632-1247, [email protected]

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Nebraska Extension is a Division of the Institute of Agriculture and Natural Resources at the University of Nebraska–Lincoln cooperating with the Counties and the United States Department of Agriculture. Nebraska Extension educational programs abide with the nondiscrimination policies of the University of Nebraska–Lincoln and the United States Department of Agriculture.