Indiana farmland prices have continued their trend of record highs in 2025, according to the latest Purdue Farmland Values and Cash Rents Survey results.
The average price of top-quality farmland reached $14,826 per acre, a 3% increase from June 2024. Average- and poor-quality farmland also saw gains, with prices increasing 5.4% and 7.6% to $12,254 and $9,761 per acre, respectively.
“Farmland prices increased modestly in 2025 at the state level and across the northern two-thirds of the state,” said Todd Kuethe, the Schrader Endowed Chair in Farmland Economics at Purdue and the survey’s author. “However, farmland prices declined by varying degrees in the southern third of the state.” Both the southwest and southeast regions experienced declines between 4.6% and 11.3%, depending on quality grade.
Kuethe also noted that respondents expect a modest increase in farmland prices through the rest of 2025 for most of the state. However, farmland prices are anticipated to continue their decline in the southwest and southeast regions. The survey suggests that farmland in these two regions declined in the latter half of 2024, but rebounded in the first half of 2025. The net 2025 gain, however, fell short of the 2024 losses. The opposite pattern appears to hold across the state’s other four regions.
Additionally, land transitioning out of agricultural production declined in value slightly by 5.3%. Statewide cash rents saw minimal changes, with some variation across regions, reflecting broader trends in land values.
The Department of Agricultural Economics conducts the Purdue Farmland Value and Cash Rents Survey each June, and it is published in the quarterly publication Purdue Agricultural Economics Report.
The survey is conducted out of Purdue University’s Department of Agricultural Economics and produced in cooperation with numerous professionals knowledgeable about Indiana’s farmland market. These professionals include farm managers, rural appraisers, land brokers, agricultural loan officers, farmers and Farm Service Agency county office directors. They estimate the market value for bare poor-, average- and top-quality farmland in December 2024, June 2025 and provide a forecast for December 2025.
Written by: Steve Koppes, Purdue Agricultural Communications
