Prices paid for Illinois farmland dropped slightly during the first half of 2025. That’s according to information from the Illinois Society of Farm Managers and Rural Appraisers. Survey respondents indicated that while 31 percent expected no changes in prices paid, the balance reported the following declines: down 2.2 percent for excellent-quality farmland, down 3.5 percent for both good and average-quality land, and prices were three percent lower for fair-quality land. In addition to the reported drop in prices paid, most respondents expect farmland prices to decline slightly or remain stable during the rest of 2025: 49 percent expect declines of under three percent, and 33 percent expect prices to remain the same. Most farm managers are also expecting cash rents to be lower in 2026 compared to this year by between $15 and $20 per acre. Rents on excellent land are expected to drop from $391 to $374 an acre.
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