Record $20K an acre paid for northwest Iowa farmland - KTIV News 4 Sioux City IA: News, Weather and Sports

Record $20K an acre paid for northwest Iowa farmland

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HULL, Iowa (KTIV) -

Iowa has a new farmland price record and it's in Siouxland. The Des Moines Register says a 74-acre tract near Hull in Sioux County sold for $20,000 an acre on Wednesday.

Economist emeritus Neil Harl of Iowa State University calls the prices "amazing." A survey of real estate agents in September put the state average at $6,477 per acre.

Auctioneer Pete Polleman, of Hull, who called Wednesday's sale, says farmland in northwest Iowa is very valuable, with good commodity prices and a strong livestock industry.

The previous record price came in October when a 120-acre parcel went for $16,750 per acre near Sioux Center, also in Sioux County.

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