HAYS, Kan. (KNS) – The price of Kansas farmland increased by more than 35% over the past two years. That’s more than any other state in the nation.
The rise in Kansas cropland values marks a sharp shift. Land here had actually decreased in value several years prior to 2020. But as prices for grains like wheat and corn increased, farmland became a more profitable asset, for both farmers and outside investors.
The Farmers Business Network, which released the report, says farm economists expect the price of Kansas farmland to continue rising as the global economy demands more food. The report says the high land prices are good news for farmers who already own a lot of land but could price out smaller farms looking to expand their business.
It also will likely mean higher rents for farmers who lease land.
Nearby states saw big increases as well, with farmland values jumping more than 20% in Missouri, Nebraska and Texas.