Ohio land values increase

Ohio land values increased slightly in January compared to a year ago, from a $7,100 average sale price per acre to $7,300.

According to the Farmer National Company Agent Survey, the value of quality land in a region that includes Ohio have held steady, while “medium quality land” has trended downward.

Low quality land has struggled even more with an average 10 percent decline in value.

Randy Dickhut, senior vice president of real estate operations for Farmers National, said that for the last three years, agricultural landowners in many regions across the country have seen a decline in profits, which pushed land values lower.

“This winter, questions abound as to the direction of commodity prices, interest rates, inflation, challenges in the world economy, weather and U.S. tax law,” Dickhut said in a statement released Thursday from Farmers.

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Tom Gnau