Typical rental rates for hay and oat land in Iowa are included in the “Cash Rental Rates For Iowa 2012 Survey” from Iowa State University Extension.
The report breaks down average rental rates for a variety of crops and pastureland in nine districts throughout the state. Cash rents for established alfalfa fields range from a low of $108/acre in south-central Iowa to a high of $227/acre in the state’s northeastern corner. For established grass hayfields, average rental rates are lowest in southeastern Iowa ($73/acre) and highest in the northeast ($181/acre).
For Iowa corn and soybean land, the survey estimates the 2012 average cash rent at $252/acre, an increase of $38/acre (18%) from 2011. That’s the largest one-year increase since the statewide survey was started in 1994.