The average value of an acre of Iowa farmland rose 8.2% over the past year to $2,083, according to a recent Iowa State University (ISU) survey.

The average value increased for the third year in a row after slight declines in 1998 and 1999. The $2,083 average value is the second highest reported since ISU began conducting the survey in 1941, ranking behind only the average value of $2,147 reported in 1981.