The price of farmland across the Midwest is skyrocketing - KTIV News 4 Sioux City IA: News, Weather and Sports

The price of farmland across the Midwest is skyrocketing

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In many Iowa counties, it's not uncommon for land to sell at more than $17,000 an acre. In many Iowa counties, it's not uncommon for land to sell at more than $17,000 an acre.
WATERLOO, Iowa (KTIV) -

In many Iowa counties, it's not uncommon for land to sell at more than $17,000 an acre at auction.

Many people who are selling hope to ride the market's highs and cash in with record-breaking prices at auction.

Others hesitate to sell because they're nervous about possible tax increases next year.

"Some of the guys now I've been talking to still want to sell but rather than cashing in, they'll do a 10-31 and buy something else, until they get a better feel for how the taxes are going to be structured," Jake Huff, of Whitetail Properties said.

The harm in the farmland shortage and sky-high prices, it makes it very difficult for future generations to consider careers in agriculture.

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