How Much is an Acre of Land Worth in Kansas

Land values across Kansas continue escalating thanks to robust commodity crop prices driving farm profitability and investor appetite upwards for both irrigated and non-irrigated tracts usable for agriculture or commercial development. Per the latest Kansas State University projections, average per acre land valuation rose over 9% during 2022 to reach approximately $2,500 for non-irrigated cropland and nearly $4,900 for irrigated land. With total worth of all farm real estate now approaching $65 billion statewide across 45.2 million acres according to USDA Census of Agriculture data, determining accurate per acre worth remains important when buying, selling or repurposing land. This article explores helpful guidelines assessing raw land value per acre depending on intended use and location variables within the state as pricing fluctuation even occurs county to county.

Kansas Land Prices and Values

Land prices in Kansas averaged $4,220 per acre in 2022 according to the Kansas Farm Management Association Land Value Survey. Agricultural land used for crops fetched lower prices around $2,630 per acre, while non-farmland acreage (like rural residential or commercial property) went for higher rates. Location, land quality, access to utilities/infrastructure and intended use impact per acre pricing.

For example, in the southwest region containing metropolitan areas like Wichita, land values range from $5,630 per acre on average for dry cropland to $16,030 per acre for irrigated cropland due to higher demand. Prices also increase closer to growing cities as land is purchased for commercial/housing development.

Factors Impacting Kansas Land Values

Several key factors determine the value of an acre of land for sale in Kansas:

Location

Where the land is located geographically impacts pricing. As mentioned, southwest Kansas near cities has higher rates while rural central/western regions have lower costs per acre. Proximity to utilities and infrastructure also raises values.

Productivity

The agricultural productivity of soils directs cropland prices. Rich fertile soils tend to sell for 25-30% more compared to average land in central Kansas regions. Highly erodible, arid western soils fetch lower prices.

Access and Improvements

Improved land with access to electricity, gas, water lines or drainage tiles will sell for roughly 40% more compared to unimproved acres without utilities access. Roads, fences or buildings also add value.

Intended Use

Land sold for commercial, industrial or residential development brings higher sale prices. In some cases, buyers pay 5-10 times more per acre if land can be rezoned from agricultural to commercial/housing uses near growing city boundaries.

Market Conditions

Broader economic conditions impact land markets, like interest rates, agricultural profits and investor demand. During strong commodity export markets or times of higher inflation, land values may increase substantially.

Average Per Acre Costs by Kansas Counties

There is considerable variation in per acre land values across Kansas counties based on the above factors:

• Southwest Kansas - Prices range from $5,000 per acre in rural Meade county to $9,280 per acre in Seward county.
• South Central Kansas - Values span from $2,150 per acre in Comanche county to $7,600 in urbanized Butler county.
• Northeast Kansas - Rates vary between $4,100 per acre in Brown county and $12,500 in Johnson county within Kansas City suburbs.
• Northwest Kansas - Cheyenne county land sells for approximately $1,000 per acre on average, while Ellis county sees higher prices around $3,560 per acre.

In general, eastern Kansas counties have higher land values given productive soils, access to markets/cities and increased demand from commercial/housing development. yet quality cropland still sells from $3,000 to $5,000 per acre on average regardless of county location.

Estimating Your Acreage Value

Determining an accurate price per acre for a land parcel requires assessing all value factors covered above. While statewide land value surveys provide a baseline, prices can swing 20-30% higher or lower for a given property based on:

• Productivity ratings - Get soil tests evaluating crop yields
• Location - Development potential from growing nearby cities
• Access/utilities - Availability of electricity, water, roads etc.
• Site improvements - Any buildings, fences or drainage systems

Hiring an accredited appraiser to evaluate property-specific details will produce the best value estimate compared to averages. Those wanting to quickly gauge potential worth can consult Kansas county assessment data for recent land sales of comparable sites.

At the end of the day, connecting with local real estate professionals experienced in the area is prudent. Companies like Land Boss specialize in land transactions, providing fair cash offers to sellers looking to liquidate acreage 5-10% below appraised values without the hassles of traditional sales. Keep location nuances and all value drivers in mind when pricing Kansas properties.

Determining Price Per Acre to Buy or Sell

Figuring out an appropriate price per acre when looking to either buy or sell vacant land in Kansas takes research and understanding micro-market dynamics. While statewide land value surveys provide starting benchmarks, drilling down on local details matters most.

Key Factors Impacting Price Per Acre

We covered the main drivers that influence land valuations earlier, but as a reminder, primary elements to consider when pricing land parcels by the acre include:

• Productivity - The inherent agricultural yield capability based on soil types, drainage, slope and other factors. More fertile cropland commands higher pricing.
• Location - Proximity to growing Kansas cities where demand for commercial/housing development exists. Also access to infrastructure like roads.
• Improvements - Existing buildings, fencing, irrigation, drainage tile or other enhancements add property value. No improvements means lower prices.
• Market Conditions - Keep an eye on the overall direction of land markets in Kansas. Adjust pricing accordingly during strong or weak periods.

Comps Process for Accurate Pricing

Relying solely on statewide land value averages will not produce accurate pricing. The best process for determining fair market values per acre involves:

1. Identifying recent comparable land sales in the county. This provides a baseline of what similar sites have sold for.

2. Making acreage value adjustments up/down based on property differences. For example, does you land have better road access or irrigation than the comps?

3. Listening to advice from local real estate professionals. Agents can clarify county-specific value factors that statewide data doesn't capture.

4. Getting an appraisal if selling for top-dollar. Buyers may request this, but also helps set pricing expectations.

In the end, carefully assess all the micro supply and demand dynamics surrounding the property on top of broad market conditions. Price too low and money is left on the table. Price too high and no buyers exist.

Key Pricing Considerations for Sellers

Those looking to sell vacant acreage or farm ground should keep several important pricing factors in mind:

• Have patience - Marketing/negotiating land deals take 1-2 years typically to find buyers willing to pay fair prices. Don't panic and sell too low unless time pressures exist.
• Assess sale motivations - Are you willing to hold out for top-dollar or take a reasonable offer? Needed life event funds? Understand trade-offs.
• Consider tax implications - Some prefer instalment sales to spread capital gains taxation over years. Know all options.
• Get multiple opinions - Consult several agents and valuators to establish accurate pricing based on current demand.
• Weigh alternatives if urgency exists - Companies like Land Boss purchase properties 5-10% below values with cash, closing deals in weeks. Provides liquidity.

Setting realistic yet optimal pricing per acre requires diligence on the seller's part. Pay attention to all localized value drivers while also monitoring Kansas land market conditions at large.

Final Thoughts

Determining acreage pricing in the Sunflower State requires assessing numerous factors from soil productivity to access and market conditions. While statewide land value surveys provide starting benchmarks, drilling down on county-specific sale comps and localized dynamics is crucial for buyers and sellers to set accurate pricing per acre. Connecting with real estate agents familiar with micro-market nuances across Kansas can help establish price points reflective of true market value. Whether you are looking to sell or purchase vacant land or farmland, taking time to research recent sales of comparable sites, evaluate property improvements and monitor value trends will allow you to set fair pricing on a per acre basis. Companies like Land Boss aim to provide sellers needing liquidity with cash offers 5-10% below market rates if urgency exists. But for those with flexibility, gathering multiple opinions from valuators and being patient is key to optimizing returns.

Frequently Asked Questions (FAQs)

How much does an acre of agricultural land or farmland cost on average in Kansas?

According to 2022 statewide land surveys, the average value of Kansas cropland is around $2,630 per acre. However, prices range from $1,000 per acre in poorer quality western soils to $5,000+ for irrigated eastern farmlands.

What drives differences in per acre pricing between Kansas counties?

The main factors impacting land values locally are soil productivity, access to transportation infrastructure, availability of utilities, proximity to growing cities and intended land use (agricultural vs commercial development). Southwest counties have higher pricing due to metro area demand.

How can I determine an accurate price per acre for my Kansas property?

Gathering details of recent comparable acreage sales in your county, assessing any property improvements then adjusting for differences can produce fair pricing. Consulting local real estate professionals familiar with micro-market dynamics provides additional perspective.

Is it better to get an appraisal when selling land in Kansas?

Most buyers will require a third-party appraisal to secure financing anyway. An appraisal gives sellers clarity on potential top-dollar sales pricing when marketing a property. Just be aware that appraised values assume a 1-2 year sales period to find buyers willing to pay top dollar.

What options exist if I need to sell my Kansas land faster for life event funds? 

Companies like Land Boss purchase acreage across Kansas for cash relatively quickly, closing deals in just a few weeks in many cases. This provides faster liquidity but at a lower price point, usually 5-10% below actual market value.

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