Benchmark farmland values in eastern Kansas ticked up 4.1% in the first six months of 2026, according to a report from Frontier Farm Credit. The increase was driven by the financial strength of buyers, an already tight real estate market and fewer sales in the first half of the year.
The 2026 Benchmark Farmland Report is a collaboration among AgCountry Farm Credit Services, Farm Credit Services of America and Frontier Farm Credit, looking at the farm real estate market in Iowa, Kansas, Minnesota, Nebraska, North Dakota, South Dakota, Wyoming and Wisconsin. The report has been tracking many of the same farms for more than 30 years, using certified local appraisers who update values for the same benchmark farms every six months.
The report covers eastern Kansas farms and showed a one-year 6.8% change in value over all types of land. Cropland values improved 3%, and pasture values also increased 5.5%, but at a slower pace through the first half of 2026.
“While the cattle sector remains strong, values have already moved substantially higher; financing costs remain elevated; and buyers have become more selective about carrying capacity, water access, fencing and location,” according to the report.
This somewhat matches up with USDA reporting in its 2026 Land Values summary, which was released at the beginning of August.
Citing USDA, Megan Hughes with the Kansas State University Department of Agricultural Economics reported that the average of all Kansas dryland values has risen 3%, to an average of $3,450 per acre, while irrigated land values have risen 2.2% to $4,600 per acre, and pasture values have risen 5.7% to $2,400 per acre.
It’s the sixth consecutive year of gains in U.S. farm real estate values despite the growth rate decreasing, reflecting a tightening ag economy, Hughes reported.
A closer look
These reports point to a “new normal” in farm country, with margins that remain tight, elevated cost structures and high interest rates that apply pressure to benchmark land values.
Volatility in weather events, global supply and demand, and geopolitical tensions also are driving the tighter economic environment in agriculture, according to the report. Learn more from Frontier Farm Credit and K-State.
Kansas agricultural land auctions slowed to a crawl during the summer months. Here are details reported through the first part of August:
Cowley County. Three tracts of pasture and timber totaling 154 acres, south of Winfield, sold at auction July 27. One tract had an older two-bedroom house selling as is, and the whole offering provided convenient highway access and ideal views for building a home. The property sold for an average $3,519 per acre. The seller was the James E. Waller Trust. Farmers National Co. handled the sale.
Rooks County. A single tract of 155 acres of dryland west of Stockton sold at auction May 29 for an average of $1,600 per acre. The seller was Steven Bruggeman. Farmers National Co. handled the sale.
Pottawatomie County. About 350 acres of summer grazing land and established hay ground with recreational opportunities, south of Havensville, sold in four tracts at auction May 20 for an average of about $5,851 per acre. The seller was the Kansas State University Charitable Real Estate Foundation. Farmers National Co. handled the sale.
Reno County. About 165 acres of grassland and hardwood timber with agricultural and recreational opportunities, 2 miles from Cheney Lake, sold at auction May 7 for about $3,675 per acre. The sellers were Michael L. and Diana Waggoner. Farmers National Co. handled the sale.
Greeley County. About 476 acres of productive dryland northeast of Tribune sold at auction June 1 for $2,650 per acre. The seller was the Elva M. Dragosh Estate. Farmers National Co. handled the sale.
Editor’s note: To include a land auction in this monthly report, please email jennifer.latzke@farmprogress.com, or call 620-253-5497.