The Purdue Farmland Value and Cash Rents Survey suggests Indiana farmland prices grew at a record pace between June 2021 and June 2022, exceeding previous highs set in 2021. Statewide, top-quality farmland averaged $12,808 per acre, up 30.9% from the same time last year. The average per acre price of average-quality farmland similarly increased by 30.1% to $10,598. Poor quality farmland prices exhibited the largest increase of 34.0% to $8,631.
Union Township residents say the road extension in Porter County, with a design speed of 55 mph, per the project’s website, will disrupt their rural quality of life with the potential for high-speed traffic, ruin multi-generational farms.
The pandemic-fueled land rush has brought wealthier buyers to rural areas, making land even harder to access a crisis that has become especially acute in the Northeast of the US.