How Much Is Land in Nebraska? Prices by Land Type

Land value in Nebraska varies significantly based on numerous factors and its intended use. Its worth is a complex calculation influenced by characteristics specific to each parcel and broader economic conditions.

Key Factors Influencing Land Value

Primary elements contribute to varying land prices in Nebraska. Location is a key consideration, as properties near urban centers, major transportation networks, or essential infrastructure typically command higher values. Access to established roads and available utility connections, such as water, sewer, and electricity, directly impacts development potential and market price.

The quality and productivity of the soil are also significant drivers of land value, especially for agricultural properties. Land suitable for high-yield crops due to rich soil composition is generally more valuable. Water availability, particularly for irrigation, can dramatically enhance agricultural output and land value.

Topography also plays a role; flat, easily tillable land is often preferred for farming or development, while uneven terrain may be better suited for pasture or recreational uses. Zoning regulations, established by local authorities, dictate how land can be legally used, influencing a property’s potential and market value.

Property tax assessment practices further impact land value. County assessors are responsible for valuing all real property annually. For taxation purposes, residential and commercial properties are assessed at or near 100% of their actual value, while agricultural and horticultural land is assessed at or near 75% of its actual value.

Valuation by Land Type

Land values in Nebraska diverge based on their classification and use. Agricultural land, a significant portion of the state, is categorized by productive capacity. In 2024, the average farm real estate value, including land and buildings, was $4,080 per acre. Preliminary 2025 data suggests a slight decrease, with the statewide average for agricultural land at $3,935 per acre.

For irrigated cropland, the value averaged $8,550 per acre in 2024. Preliminary 2025 figures show center pivot irrigated cropland at $8,730 per acre and gravity irrigated cropland at $7,745 per acre. Dryland cropland, relying on rainfall, was valued at an average of $5,350 per acre in 2024. Preliminary 2025 data indicates dryland cropland with irrigation potential at $6,210 per acre and without irrigation potential at $4,460 per acre.

Pasture and rangeland, used for livestock grazing, averaged $1,400 per acre in 2024. Preliminary 2025 data shows tillable grazing land at $1,815 per acre and nontillable grazing land at $1,230 per acre. Hayland values also saw increases, ranging from 1% to 5% in preliminary 2025 reports. Regional differences are notable, with the highest agricultural land prices in the northeast and eastern parts of the state, and the lowest in the northwest and north regions.

Residential land values vary widely depending on location and development status. Urban lots are priced based on proximity to services, schools, and employment centers, as well as lot size and existing infrastructure. Suburban lots are influenced by community amenities, school districts, and metropolitan accessibility. Rural residential acreage values are determined by scenic views, seclusion, and distance from towns.

Recreational land is valued based on its natural features, such as water bodies, timber, and wildlife habitat. These properties can also generate income from hunting leases. Commercial and industrial land values are primarily driven by strategic location, access to major transportation routes, and the availability of utilities and infrastructure. Zoning, traffic patterns, and the potential for specific commercial or industrial development are significant considerations.

Current Land Market Trends

The Nebraska land market has experienced shifts in recent years. In 2024, the average market value of agricultural land across the state increased 5% to 7%, reaching a peak of $4,015 per acre. Preliminary 2025 findings indicate a change, with the average value declining approximately 2% from the prior year, settling at $3,935 per acre. This marks the first reported decline in agricultural land value in six years.

Several factors influence these market dynamics. Lower crop prices for major commodities have tightened the financial positions of agricultural operations, impacting what producers pay for cropland. Higher cattle prices have provided support for grazing land values.

Rising interest rates have increased borrowing costs for land purchases and operating loans, contributing to a more cautious investment environment. Persistent farm input costs for items like seeds, fertilizers, and chemicals also present financial pressure for producers. Information on these trends is regularly compiled and published by the University of Nebraska-Lincoln (UNL) through its Farm Real Estate Market Survey and the USDA National Agricultural Statistics Service (NASS).

Accessing Specific Land Information

For precise, localized land information, various resources are available. County assessor and treasurer offices are primary points of contact for public records related to property valuations, taxes, and ownership details. These offices maintain comprehensive records and can provide property identification numbers for online searches.

The Register of Deeds office in each county records and maintains documents related to property ownership transfers, deeds, and liens. Many counties offer online databases for public access to this information by searching with a name, parcel number, or address. This provides insights into a property’s history, including previous sales and any encumbrances.

Consulting local real estate professionals, such as land brokers, real estate agents specializing in rural or commercial properties, and professional appraisers, can provide valuable market analysis. A professional land appraisal remains the most accurate method for determining a property’s current market value.

University extension services, such as those provided by the University of Nebraska-Lincoln, regularly publish detailed reports and surveys on land values and rental rates across the state. These reports offer regional breakdowns and insights into various land types. For property tax concerns, owners can appeal assessed values by filing a protest with the county board of equalization.