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A policy advisor at the Federal Reserve Bank of Chicago says land values in the Seventh District were up slightly from a year ago in the first quarter of 2025.

David Oppedahl says a few factors led land values 1% higher than the first quarter of 2024.

“And up 4% from the fourth quarter,” he says. “So, a little upward movement and that’s in contrast with the end of last year when we were down a percentage point from a year ago.”

Oppedahl tells Brownfield much of the strength was observed in livestock and dairy heavy areas, like Wisconsin.

“States that are primarily corn and soybean producers like Iowa, Illinois and Indiana, there, we’re not seeing a big increase from a year ago.” He says, “Actually in Indiana, we saw a bit more of a decline from a year ago.”
Oppedahl says the market for farmland is down from a year ago with fewer sales and less demand from purchasers.

The Seventh Federal Reserve District covers portions of Illinois, Indiana, Iowa, Michigan, and Wisconsin.

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