In a year with low crop prices and high production costs, Iowa cropland cash rental rate trends stayed relatively flat across the state. The 2026 state average was $1 lower, or -0.4%, at $270 per crop acre as compared to 2025 (Figure 1). The statewide survey has been conducted by Iowa State University Extension and Outreach annually since 1994, gathering typical rents for acres devoted to corn and soybeans, as well as for oats, hay, pasture, cornstalk grazing and hunting rights. The survey does not ask for specific rents on individual farms.

Figure 1. Average Cash Rental Rates in Iowa, $/acre, nominal.

Source: Iowa State University Extension and Outreach Cash Rental Rates for Iowa Survey

For each county in Iowa, the report shows the average rental rate, along with the range and average for high, medium and low quality cropland. Rental rates for irrigated and organic cropland, as well as hay, oat, pasture, cornstalk grazing and hunting rights, are reported at the crop reporting district level only.

Responses were consistent across farmland quality levels, with the high-quality third down $3, medium-quality down $2 and low-quality third up $1. The small adjustments align with similar results from recent land value surveys, such as the ISU Center for Agricultural and Rural Development Land Value Survey, showing a 0.7% increase in December, and the most recent REALTORS Land Institute reporting a net gain of 0.3% in land values from March 2025 to March 2026.

Results by Crop Reporting Districts (Figure 2) ranged from a decline of $5 in East Central and Southwest to an increase of $2 in Northwest. There was variability across counties in year-to-year changes, as is typical of survey data, but 47 counties reported an increase, whereas 49 counties reported a decline in rents from 2025. Three counties showed no change. The highest county average rents were reported in Sioux, Lyon and Delaware at $332, $331 and $325 per acre, respectively. The lowest average rents were observed in Wayne, Lucas and Davis at $173, $187, and $200 per acre, respectively.

Figure 2. 2026 Average Cash Rental Rates by Iowa Crop Reporting District.
(dollars per crop acre and percentage change 2025-2026)

Recent market outlook analysis from Chad Hart indicates optimism looking ahead that likely held cash rents steady. Season-average price projections from USDA (May 2026 WASDE) were recently adjusted, where corn gained 20 cents to reach $4.40 per bushel and soybeans gained $1.10 to reach $11.40 per bushel. Futures for the 2026 crops have been displaying some of the best prices corn and soybean producers have seen in over a year. Corn futures indicate a 2026 season-average price in the $4.95 range. Soybean futures outline a 2026 season-average price near $11.65 per bushel.

Federal government programs, including the Supplemental Disaster Relief Program, Bridge Assistance and Emergency Commodity Assistance Program were issued to mitigate impacts of rising input costs and lower commodity prices from 2023–2025, but the timing of these programs resulted in more available funds in the current year and was a factor in the movement of 2026 cash rents.

This survey is not possible without the cooperation and assistance of the landowners, farmers and agribusiness professionals who respond. The distribution of the 1,450 usable responses was 44% from farm operators, 39% from landowners, 9% from professional farm managers and realtors, 7% from agricultural lenders and 1% from other professions and respondents who chose not to report their status. Respondents indicated being familiar with over 1.8 million cash-rented acres across the state. Response rates are a constant concern in all agriculture surveys.

As with any survey, it takes good information coming in from respondents to release good information in the final report. Every response matters, and landowners, producers and agribusiness professionals who have knowledge of rents across their county and neighboring counties are encouraged to participate in the 2027 survey.

Utilize extension resources in rent negotiations

Survey information can serve as a starting reference point for negotiating an appropriate rental rate for next year. However, rents for individual farms should be based on land productivity, ease of farming, fertility, drainage, local price patterns, longevity of the lease and possible services performed by the tenant.

A factor often considered by landowners when negotiating cash rents is the return on their farmland investment. Figure 3 shows the evolution of the ratio of average cash rents to average land values in Iowa. It suggests that the average return on investment for landowners who cash-rent their land to operators has followed a declining trend since the early 1990s, stabilizing around 3% between 2010–2020 and 2.5% since. Note that this ratio does not measure net returns, as ownership costs, including real estate taxes, are not considered in the calculation.  

Figure 3. Ratio of average cash rent to land value in Iowa, 1990-2025.  
Source: Calculations based on Iowa State University Land Value Survey and Cash Rental Rates for Iowa Survey.

The annual survey, reporting typical rental rates, is just one aspect of what landowners and tenants should discuss when it comes to rented acres. Additional resources on the Ag Decision Maker Leasing page for estimating a fair cash rent include the Information Files Improving Your Farm Lease Contract    (C2-01), Computing a Cropland Cash Rental Rate (C2-20), Computing a Pasture Rental Rate (C2-23) and Flexible Farm Lease Agreements (C2-21). Many of these fact sheets include decision tools (electronic spreadsheets) to help analyze individual leasing situations. An online tool to visualize the cash rents by land quality in each county by year, and compare trends in cash rents for a county versus its CRD and the state is available from the Center for Agricultural and Rural Development.

For farmland leasing questions, contact a farm management field specialist in your area. Landowners and tenants who want to learn more are encouraged to attend a Farmland Leasing Arrangement program. This annual statewide series is facilitated by the ISU Extension and Outreach farm management team across the state in July and August. Check with your county extension office for dates and locations near you.

For more information, contact Ann Johanns at aholste@iastate.edu.