Indiana farmland values continue to rise
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INDIANAPOLIS - The latest data from the Seventh Federal Reserve District in Chicago shows the value of good quality Indiana farmland continues to skyrocket, climbing 29% year over year. It is the highest increase throughout the Chicago Fed’s Midwest region, which includes all or part of Indiana, Illinois, Iowa, Michigan and Wisconsin.
Indiana’s values also increased 8%, compared to last quarter.
Districtwide, farmland values climbed 20% in the third quarter of 2022 from a year ago, and up 4% compared to the second quarter of 2022.
The data is based interviews with approximately 160 bankers throughout the five-state region that serve a farming clientele.
The Chicago Fed says 25% of the bankers surveyed expect district farmland values will go up again in the fourth quarter of this year, 7% expect them to go down, and about two-thirds of the respondents say prices will remain stable.