Cropland & Dairy Property Value Trends in Northeastern Wisconsin

The farmland market in northeastern Wisconsin remains highly competitive, with land values continuing to rise due to strong demand and limited supply. Across Winnebago, Fond du Lac and Green Lake Counties, land sales have been driving record-high values in some areas, particularly in cropland and dairy operations.

With over a decade of experience in rural appraisals in the region, Compeer Financial certified appraiser Carrisa Schultz analyzes these trends firsthand. Here’s a breakdown of what’s happening in the market, how land values have changed over the past few years and what factors are influencing farmland pricing today.

Cropland Values: Rising Prices & Limited Supply

One of the strongest trends in the past few years has been the rising price of high-quality cropland. Looking at a Fond du Lac County benchmark cropland property that is appraised monthly, values have jumped significantly:

• Up 12% in just the past six months
• Up 25% from early 2024 to today
• Up 50% compared to 2022

This steep increase is a direct reflection of high demand and very little available land. In some areas, cropland values now range from $6,000 per acre to well over $15,000 per acre, depending on location and soil quality.

The same trend holds for dairy properties. A dairy benchmark appraised annually saw an 11% increase in value from 2023 to 2024. This demand stems from local operators expanding their herds and securing more land, even as interest rates and commodity prices fluctuate.

What’s Driving These Increases?

Several factors continue to push farmland prices higher:

• Limited Land Availability – Very few properties are hitting the market, leading to intense competition when they do.
• Strong Buyer Interest – Most buyers are existing landowners looking to expand, particularly dairy operators.
• Auction Activity – Private and online farmland auctions have played a major role in setting new price records.

The competition has been particularly fierce among dairy farms, where expansion is necessary but available land is scarce. Many buyers are now opting to purchase existing operations rather than build new facilities due to high construction costs.

Challenges & Future Outlook for 2025

Despite high land values, some challenges are on the horizon:

• Interest rates remain elevated and are unlikely to drop significantly in the near future.
• Commodity prices may soften in 2025, which could impact margins for crop and dairy farmers.
• Renewable energy projects (solar and wind) are slowly increasing but have not yet taken up a significant portion of farmland in the area.

That said, land values in northeastern Wisconsin are expected to remain stable or continue increasing in high-demand areas. With supply still tight and competition strong, it wouldn’t be surprising if certain regions see further price appreciation in the coming year.

Why Accurate Appraisals Matter in This Market

With such variability in land values, location-specific data is crucial. If you’re looking to buy, sell or expand your farmland, understanding your property’s true value is essential.

Our Compeer appraisal team specializes in providing market-driven insights to help landowners make informed decisions. Whether you’re assessing cropland, dairy farms or recreational land, our team offers expertise tailored to your specific region and property type.

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