Illinois Farmland Value Calculator
Illinois farmland is worth $8,930/acre on average (USDA NASS 2025). Calculate your farmland's total value, cap rate, and projected return using real USDA land-value data.
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Pre-filled: USDA NASS Land Values 2025 Summary
Additional Details
Pre-filled: USDA NASS (derived)
Total Land Value
$1,428,800.00
Estimated • Based on your inputs
Cap Rate (Net Rent Yield)
1.46%
Projected Value After Holding Period
$2,261,717.00
Detailed Breakdown
Disclaimer: This calculator provides estimates for informational purposes only. Results should not be considered financial, tax, or legal advice. Consult a qualified professional for your specific situation.
How This Calculator Works
Calculation methodology and assumptions
This calculator multiplies your entered acreage by the price per acre to get your total land value, then estimates net annual income as your total annual cash rent minus your annual property tax/insurance carrying costs. Dividing net annual income by total land value gives the cap rate -- the standard metric farmland investors and lenders use to compare land purchases the same way commercial real estate investors compare cap rates on rental buildings. Over your chosen holding period, the calculator projects future land value by compounding your entered appreciation rate (defaulted to Illinois's own actual 2021-2025 USDA-measured compound annual growth rate of 4.7%, but fully overridable), then adds that projected appreciation gain to your simple (non-compounded) cumulative rental income over the same period to estimate your total dollar and percentage return, plus an annualized ("CAGR-equivalent") total return rate.
Key State Information
USDA NASS's "Land Values 2025 Summary" put Illinois's average farm real estate value (land + buildings) at $8,930/acre in 2025, up from $7,440/acre in 2021 -- a 20% increase over 4 years (a 4.7% compound annual growth rate). Illinois is part of USDA's "Corn Belt" reporting region.
How to Use This Farmland Value Calculator
- 1
Enter your information
Input the required values. The calculator is pre-filled with Illinois's data where applicable — adjust to match your specific situation for accurate results.
- 2
Review default values
Check that the pre-filled state-specific data (tax rates, median values, etc.) matches your local situation. You can override any value to customize the calculation.
- 3
Analyze your results
Review the calculated outputs. Use the breakdown table to understand exactly how each factor contributes to the final result.
- 4
Compare across states
Use the related state calculators linked below to compare results across different states — useful for relocation planning and financial comparison.
Example Calculation
Here's a practical example using Illinois's data.
The calculator uses state-specific public data and documented estimates where available — including tax rates, median values, and cost benchmarks — to produce a personalized estimate for the inputs you provide.
Result: Results will vary based on your individual inputs. Use this calculator as a starting point, then adjust the values to test different scenarios. The methodology section below explains exactly how each result is calculated.
What Affects Your Results
State-Specific Inputs
Illinois has unique rates, fee schedules, and regulatory requirements that can affect results. This page's methodology and source card identify which inputs are sourced, modeled, or user-adjustable.
Income Level
Many calculations are income-dependent due to progressive tax brackets, phase-outs, or income-based eligibility thresholds. Higher income doesn't always mean proportionally higher costs.
Local Variations
State averages may not reflect your specific city or county. Local taxes, fees, and market conditions can vary ±20% from state averages.
Annual Changes
Tax rates, fee schedules, and regulations change. Check the recorded source-review date and verify critical numbers with the relevant agency.
Tips for Illinois Residents
- Always verify pre-filled values against your actual data. State averages are a good starting point but your situation may differ significantly.
- Run multiple scenarios by adjusting key inputs to see how changes affect your results. This helps with planning and decision-making.
- Compare your results across states using the related calculators linked below — especially valuable if you're considering relocating or doing business in Illinois.
- Bookmark this page to recalculate periodically as rates change. Check the page source card and review date before relying on a pre-filled value.
- Consult a qualified professional for major financial decisions. These calculators provide estimates based on standard formulas — a CPA or financial advisor can factor in your complete financial picture.
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StateCalc Team
Editorial Team
The StateCalc team builds free financial calculators using data from official government sources including the IRS, U.S. Census Bureau, BLS, and state revenue departments. All formulas are validated by an automated test suite and cross-referenced against published data.
Our editorial standardsFrequently Asked Questions
How much is farmland worth per acre in Illinois?
According to the USDA National Agricultural Statistics Service's "Land Values 2025 Summary" (August 2025), Illinois's average farm real estate value -- land plus buildings -- was $8,930/acre in 2025. That's a statewide average; actual per-acre prices vary widely based on soil quality, irrigation access, county, and whether the parcel includes buildings or improvements.
How fast has farmland appreciated in Illinois?
Illinois's USDA-measured farm real estate value rose from $7,440/acre in 2021 to $8,930/acre in 2025 -- a 20% total increase, or about 4.7% compounded annually over that 4-year span. Past appreciation is not a guarantee of future returns; this calculator lets you substitute your own forecast.
What is a good cap rate for farmland?
Farmland cap rates (net rental income divided by land value) have historically run lower than many other real estate asset classes -- often in the 2%-4% range -- because investors also expect meaningful long-term land appreciation on top of the rental yield. A cap rate below that range isn't necessarily "bad" if the land is appreciating quickly; a cap rate well above it in a slow-appreciation area can be a stronger cash-flow opportunity. Compare both the cap rate and the appreciation assumption together, which is exactly what this calculator's "Total Projected Return" figure does.
Does this calculator account for a farm loan / mortgage on the land?
No -- this is a cash-basis calculator: it assumes you pay the full purchase price with no financing, so its cap rate and return figures represent the return on the land itself, not a leveraged return to an equity investor using debt. If you finance part of the purchase (common through Farm Credit System lenders or a USDA Farm Service Agency direct/guaranteed farm ownership loan), your actual cash-on-cash return will differ -- typically higher if the land's cap rate exceeds your loan's interest rate, and lower if it doesn't.
Where does the Illinois farmland value data come from?
Every dollar figure in this calculator's defaults comes directly from the USDA National Agricultural Statistics Service's official "Land Values 2025 Summary" report (released August 2025), specifically the "Farm Real Estate Average Value per Acre" table covering 2021-2025 by state. Cash rent and property tax/insurance figures are user-editable assumptions, not USDA data, since USDA's land-value survey does not publish per-acre cash rents.
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