The 2026 Pros and Cons of Buying Land in Nebraska

Buying land in Nebraska still carries that classic Great Plains appeal—wide horizons, productive soil, and room to build a long-term plan. But today’s market is more data-driven than ever. If you’re considering a purchase for farming, recreation, a homesite, or pure investment, it helps to look at what Nebraska land is doing right now—not just what it did during the last boom.

Recent pricing shows a market that’s adjusting rather than collapsing. Nebraska farmland averaged a record $4,015 per acre in 2024, up 5% from 2023, according to the Nebraska Farm Real Estate Market Survey. In 2025, Nebraska’s average agricultural land value declined 2% to $3,935 per acre, according to the University of Nebraska–Lincoln Farm Real Estate Market Survey. That mix—strong recent gains followed by a modest pullback—sets the tone for buyers today: opportunity is real, but you need a plan.

Nebraska land, explained: regions, uses, and what “value” really means

Nebraska isn’t a single land market. The state ranges from eastern row-crop country to the Sandhills and into the High Plains, and each region behaves differently depending on rainfall, irrigation, local demand, and commodity economics.

Even within “ag land,” values vary by land type. In 2025, statewide dryland cropland (no irrigation potential) averaged $4,155 per acre, down 2%, according to the University of Nebraska–Lincoln Nebraska Farm Real Estate Report. In the same report, statewide grazing land (tillable) averaged $3,015 per acre in 2025, up 5%, and statewide hayland averaged $2,960 per acre in 2025, up 5%—a reminder that cattle-oriented acres can move differently than grain-focused ground.

Pros of buying land in Nebraska

1. Relative affordability—and clearer price discovery than many “hot” markets

Nebraska is often more accessible than coastal or mountain markets, and the data is unusually transparent thanks to regular land surveys and reports. Even with a slight 2025 dip in average agricultural land values to $3,935 per acre, per the University of Nebraska–Lincoln Farm Real Estate Market Survey, buyers can still find a wide range of price points depending on water, soils, improvements, and proximity to towns.

2. Strong agricultural fundamentals—plus multiple ways to monetize

Nebraska supports row crops, cattle operations, and hay production, and different land types can provide different income paths. For example, landowners evaluating lease income should track rental trends: cash rental rates for center pivot irrigated cropland averaged $345 per month in 2025, down 3%, according to the University of Nebraska–Lincoln Nebraska Farm Real Estate Report. On the grazing side, pasture rental rates averaged $66 per month statewide in 2025, up 2%, and cow-calf pairs monthly rental rates averaged $67.05 statewide in 2025, also from the University of Nebraska–Lincoln Nebraska Farm Real Estate Report.

3. Recreation, privacy, and lifestyle value that’s hard to replicate

Beyond production agriculture, Nebraska land can deliver year-round lifestyle benefits—space, quiet, hunting and fishing access, and room for trails, cabins, or a future homesite. These “non-financial” returns are often a major reason buyers stay committed during market cycles.

4. Potential tax advantages for agricultural use

Nebraska offers agricultural valuation rules that may reduce property tax burden for qualifying land used for farming or ranching. Before you buy, confirm eligibility and documentation requirements with local officials so your budget reflects the real after-tax cost of ownership.

5. Long-term investment potential—despite short-term fluctuations

Land is not a day-trading asset, and Nebraska values can move with interest rates, input costs, and commodity prices. Still, the market has shown resilience. Nebraska cropland values declined 0.50% since January 1, 2025, according to AgWest Land. At the same time, Nebraska farmland values increased 1.90% entering 2026, according to Farm Credit Services of America. Together, those figures suggest a market that can cool and then re-accelerate—especially for well-located, well-watered acres.

6. Community and stability in many rural areas

Nebraska’s smaller towns and agricultural communities often offer strong local networks and a practical, relationship-driven approach to land stewardship. For many buyers, that “fit” matters as much as the spreadsheet.

Cons of buying land in Nebraska

1. Pricing can soften when crop economics tighten

When crop prices fall and costs rise, land can lose momentum. Nebraska’s average agricultural land value declined 2% in 2025 to $3,935 per acre, per the University of Nebraska–Lincoln Farm Real Estate Market Survey, after hitting a record $4,015 per acre in 2024, per the Nebraska Farm Real Estate Market Survey. That’s not a crash—but it is a reminder that timing and underwriting matter.

2. Rural convenience trade-offs are real

Depending on the county, you may face long drives for healthcare, groceries, contractors, and entertainment. If you’re buying land for a homesite or weekend use, you need to factor in travel time, emergency services, and winter access.

3. Weather risk and climate variability

Nebraska can deliver heat, wind, hail, blizzards, and tornado activity. Weather affects not only comfort and operations, but also fencing, roads, and insurance costs. Build resilience into your plan—especially if you’re relying on annual lease income.

4. Water availability and irrigation complexity

Water can be the difference between an average deal and a great one. Dryland and irrigated acres behave differently, and irrigation economics can shift. The 2025 statewide average for dryland cropland (no irrigation potential) was $4,155 per acre, down 2%, according to the University of Nebraska–Lincoln Nebraska Farm Real Estate Report. If you’re buying irrigated ground, evaluate wells, pivot condition, energy costs, and local pumping regulations before you make assumptions about yield or rent.

5. Appreciation can vary sharply by land type and location

Nebraska is not one uniform curve. In 2025, statewide grazing land (tillable) averaged $3,015 per acre, up 5%, and hayland averaged $2,960 per acre, up 5%, according to the University of Nebraska–Lincoln Nebraska Farm Real Estate Report. Meanwhile, dryland cropland averaged $4,155 per acre, down 2%, in the same report. Local demand drivers—feedlots, ethanol plants, expanding towns, or conservation interest—can change outcomes parcel by parcel.

6. Liquidity is lower than residential real estate

Undeveloped land and rural tracts often take longer to sell, and pricing can depend heavily on financing availability and buyer pool depth. If you might need to exit quickly, plan for a longer marketing timeline and consider improvements (survey, access, basic utilities) that reduce friction for future buyers.

Due diligence checklist before you buy Nebraska land

• Confirm the land type and income potential: Compare your parcel to statewide benchmarks—like 2025 pasture rental rates of $66 per month (up 2%) and cow-calf pair rental rates of $67.05 per month, per the University of Nebraska–Lincoln Nebraska Farm Real Estate Report.
• Verify water and irrigation facts: If the property is irrigated, analyze cash rent norms (center pivot irrigated cropland averaged $345 per month in 2025, down 3%, per the University of Nebraska–Lincoln Nebraska Farm Real Estate Report) and validate well capacity, permits, and equipment condition.
• Test soils and review productivity history: Soil quality, drainage, and past management can affect both yields and resale value.
• Review zoning, easements, and access: Make sure the parcel has legal access, and understand restrictions that could limit building, hunting, or future development.
• Run a title search: Identify liens, mineral reservations, or encumbrances that could change the value proposition.
• Model taxes and ownership costs: Include property taxes, insurance, fencing, weed control, road maintenance, and any required conservation compliance.

Financing options to consider

• Conventional bank loans: Common for buyers with strong credit and down payment capacity.
• USDA rural loan programs: Potential fit for qualifying rural purchases and certain owner-occupied plans.
• Ag-focused lenders (Farm Credit and similar): Often best equipped to underwrite farm cash flow, rent assumptions, and land improvements.

Compare terms carefully. A small interest-rate difference can materially change what the land needs to produce each year to break even.

How to think long-term in a shifting market

Your “why” should drive your “where.” If you want stable lease income, you’ll analyze rent trends and tenant demand. If you want appreciation, you’ll focus on scarcity factors like water, improvements, and proximity to growth. If you want lifestyle and recreation, access and usability may matter more than top-end soils.

The recent data supports a balanced view: the state reached a record average of $4,015 per acre in 2024 (up 5%), per the Nebraska Farm Real Estate Market Survey, then eased to $3,935 per acre in 2025 (down 2%), per the University of Nebraska–Lincoln Farm Real Estate Market Survey. Even within 2025, signals differ: AgWest Land reported Nebraska cropland values declined 0.50% since January 1, 2025, while Farm Credit Services of America reported Nebraska farmland values increased 1.90% entering 2026. The takeaway is simple: Nebraska remains compelling, but disciplined underwriting beats hype.

Final thoughts

Nebraska land can be a smart buy if you match the property to your goals and evaluate it with current numbers. The state offers productive acres, recreation potential, and multiple income paths—but also demands respect for weather, water realities, and slower resale dynamics.

Do the due diligence, use local expertise when needed, and commit to a long-term strategy. Nebraska rewards buyers who treat land as an asset to understand, improve, and hold—not a trend to chase.