Study Claims Illinois Farmland More Valuable than Missouri Farms

I predict that this new data claiming that Illinois farmland is more valuable than what you'll find in Missouri will start more than one argument. I have friends on both sides of the issue, but there is some math involved that shows the claim just might be true.

Get our free mobile app

Before I looked at the results, I thought that a new ranking of states with the most valuable farmland would find Missouri near the top. Boy, was I wrong. It's just been shared by 24/7 Wall St and it's an interesting breakdown of how much farmland is worth in different parts of the country.

First, the good news for Illinois. The ranking has farmland in the Land of Lincoln being the 9th most valuable in America at $9,300 per acre. Impressive. 74% of the land in Illinois is agricultural which is also an eye-opener.

With Illinois at #9, you'd think that Missouri would be close, wouldn't you? Well (like me), you'd be wrong. Missouri comes in at #23 with farmland reportedly worth $4,500 per acre. 61% of Missouri is considered farmland which is also impressive.

Side note: Please don't be offended if you live there, but I didn't expect to see you at #1 for farmland, Rhode Island.

I'm not all out questioning the validity of the ranking, but I have to wonder if the "value" of farmland in Illinois compared to Missouri might also be affected by scarcity of available land and/or taxes? It's a valid question.

The farmland ranking is an interesting read if you're a farmer and/or have an interest in the agricultural heart of Missouri and Illinois.