How Much Is an Acre of Land in Nebraska?

Determining the value of an acre of land in Nebraska is a complex process, as there is no single, fixed price. Land values across the state are dynamic and influenced by a multitude of variables that fluctuate with market forces and specific property characteristics. This article explores the various aspects that contribute to Nebraska’s diverse land valuation landscape. It considers how different attributes can lead to significant variations in price per acre.

Factors Influencing Nebraska Land Values

The specific location of a property significantly impacts its value. Land situated closer to urban centers like Omaha or Lincoln, or near major transportation arteries such as interstates and rail lines, often commands higher prices due to increased accessibility and potential for development. Regional differences within Nebraska are also apparent, with eastern areas typically exhibiting higher values compared to western parts of the state.

The intended use of the land is another major determinant of its worth. Agricultural land, which includes cropland, pasture, and ranchland, is valued differently than residential, commercial, or recreational parcels. Productive cropland, for instance, is assessed differently than a suburban residential lot.

Soil quality and its inherent productivity are paramount for agricultural land valuation. Factors such as soil type, fertility, and drainage directly influence crop yields and, consequently, the land’s earning potential. Highly fertile soils with good drainage tend to fetch premium prices.

Access to water and associated water rights are also significant. The availability of irrigation, whether from surface water sources or groundwater wells, can substantially enhance the value of agricultural land by ensuring consistent crop production. Properties with natural water features like rivers or ponds may also see increased value, particularly for recreational purposes. Topography, including elevation and slope, along with natural features such as timber or wildlife habitat, contribute to a property’s overall appeal and utility.

Broader market demand and economic conditions further influence land values across all types. Trends in interest rates, commodity prices for agricultural products, and shifts in population can create overarching pressures that either support or suppress land values. These economic indicators reflect the general health of the market and investor confidence.

Understanding Current Land Prices in Nebraska

Current average land values in Nebraska vary considerably depending on the land type and its specific characteristics. While these figures represent statewide averages, actual prices can deviate significantly based on the factors previously discussed. These values are derived from comprehensive market analyses and sales data.

Agricultural land comprises several categories, each with distinct price ranges. Irrigated cropland generally commands the highest prices due to its consistent water supply. As of early 2024, the average value for irrigated cropland in Nebraska was around $8,550 per acre, though preliminary 2025 data indicates a slight decline of 4-5% for both center pivot and gravity irrigated land. Dryland cropland, which relies solely on rainfall, had an average value of approximately $5,350 per acre in early 2024, with a projected 2-3% decrease in 2025. Pasture and ranchland averaged about $1,400 per acre in 2024, with some segments seeing increases of 1-5% in 2025. The overall average value of agricultural land in Nebraska was reported at $4,080 per acre by USDA NASS in 2024, while the University of Nebraska–Lincoln’s survey indicated $4,015 per acre for the same period. Preliminary data for early 2025 shows a slight decrease to $3,935 per acre for all agricultural land, marking the first decline in six years.

Residential land values differ greatly between rural and suburban settings. Rural residential acreage can have varying prices based on remoteness and access to utilities. Suburban residential lots, particularly near major metropolitan areas like Omaha or Lincoln, are significantly more expensive due to population density and demand. These lots are often valued on a per-lot or per-square-foot basis rather than per acre, reflecting their development potential and proximity to amenities.

Commercial and industrial land values are highly dependent on specific location, zoning, and infrastructure. These properties are typically found in urban or industrial corridors and are almost always valued on a per-square-foot basis, with prices substantially higher than even prime agricultural land. Their value is tied to their capacity for business operations and strategic placement within economic hubs.

Recreational land, which might include properties suitable for hunting, fishing, or scenic enjoyment, often blends aspects of agricultural or timberland values. Its price is influenced by natural features, wildlife populations, and aesthetic appeal rather than solely productive capacity. The market for recreational land can be driven by personal interest and leisure opportunities.

These figures serve as general benchmarks. The unique characteristics of any given property will cause its value to vary from these averages. Factors such as specific soil ratings, water availability, existing structures, and access to roads all contribute to the final market price. Sales data from recent transactions provide the most accurate reflection of current market conditions for comparable properties.

Where to Find Nebraska Land Value Data

Several reliable sources provide valuable data for understanding Nebraska land values. University Extension services, particularly agricultural economics departments at state universities, are a primary resource. The University of Nebraska-Lincoln, for example, publishes annual farm real estate market surveys that offer detailed insights into agricultural land values and cash rental rates across different regions and land types in Nebraska.

Professional real estate organizations and associations also compile and disseminate land value information. Groups such as the Nebraska Realtors Association or specialized agricultural real estate associations often have access to market trends and sales data. These organizations can provide aggregated statistics and analyses that reflect broader market activity.

The USDA National Agricultural Statistics Service (NASS) is another important source for general agricultural land values at both state and national levels. NASS provides comprehensive reports on farm real estate values, cropland values, and pastureland values, which can be useful for understanding overall trends. Online real estate listing platforms can also be helpful, though it is important to remember that these typically show asking prices, which may differ from final sale prices. Websites like Zillow, Landwatch, or specialized land sale platforms can offer a snapshot of properties currently on the market.

Getting a Professional Land Appraisal

A professional land appraisal provides an unbiased, expert opinion of a property’s value, conducted by a licensed appraiser. This assessment goes beyond general market data, offering a detailed analysis specific to the individual parcel. Appraisers are regulated by state licensing boards and must adhere to established valuation standards.

Individuals often need a professional appraisal for various financial and legal purposes. These include securing financing for a land purchase, facilitating the buying or selling process, estate planning, or settling disputes related to property values. Appraisals are also used for property tax assessment appeals and determining fair market value in legal proceedings.

The process of obtaining an appraisal typically begins with selecting a qualified, licensed appraiser who has experience with Nebraska land values and the specific property type. The appraiser will then conduct a thorough inspection of the property, examining its physical characteristics, improvements, and surrounding area. They will research recent comparable sales in the market and analyze various factors that influence value, such as soil types, water rights, and access.

The appraiser then compiles a comprehensive report, which details their findings, methodology, and the final valuation. This report provides a well-supported estimate of the property’s market value, offering clarity and objectivity for all involved parties. The entire process, from engagement to report delivery, can take anywhere from 20 to 40 days, depending on the complexity of the property and market conditions.