(Undated) – While 2020 was no doubt full of hardships for many, one bright sport of farmers appears to be the value of their land. According to Illinois Society of Professional Farm Managers and Rural Appraisers member, Luke Worrell, last year was a “stable” year for farmland values.
Worrell says the end of 2020 has “set the table” for an eventful 2021. He says he is expecting a sharper rise in land values in 2021. Excellent category land averaged $10,870 per acre in 2020 compared to $10,435 in 2019. Good category land was $8,446 compared to $8,335 in 2019. Recreation land averaged $3,689 per acre in 2020 compared to $3,904 the year before.
