Lake County, Indiana
2024 Land Sales Report
In Lake County, Indiana, land prices continued their upward trend into 2024 but are now showing signs of leveling off as the market moves through 2025.
If you’d like to get specific land values on your own property or a farm near you for 2025, please contact Craig Stevenson today at (574) 870-4383.
Average Price of Land*
$14,091/acre
Jan. – Dec. 2024*
As high as $15,456/acre
in 2024*
Land Market Commentary & Local Trends
Overall, the average price of farmland was $14,091/acre and the price per productivity index point was $218.99 in 2024 based on the sales data. It is important to note that in 2024 there have been farmland sales as high as $15,456 per acre.
Since 1977, the Geswein Farm & Land Team has been advising landowners to be stewards of the land and make decisions based on most current, accurate, and relevant data. The information in this report can provide you with a rough estimate of your property’s value; however, understanding the specific characteristics of your property and how they compare to the other sales will provide the most accurate value of your property. Additionally, properties sold by land brokers via auctions or listings consistently outperformed individual to individual transactions and properties sold by traditional home realtors.
By The Numbers
According to Land.com, about 2,000 acres hit the market in Lake County, Indiana, with the total value of farms, hunting land, and other rural properties listed at around $148 million. Right now, Lake County ranks third in the state for the most land up for sale. Out of all the areas in the county, Crown Point currently has the most land available. Lake County is actually one of the ten largest counties in Indiana, covering 626 square miles, and it’s located up in the northern part of the state.
The most recent USDA farmland census reveals that in Lake County, farming remains a meaningful but modest part of the local landscape. As of the 2022 census, the county had about 148,139 acres dedicated to agriculture – down sharply from its historic roots. Corn and soybeans dominate the crop mix, with approximately 80,000 acres planted in corn and around 50,000 acres in soybeans. While it’s no longer a major agricultural powerhouse compared to other Indiana counties, farming still plays an essential role, particularly in communities like Lowell and Hobart in the southern half of the county.
Overview of Lake County Agriculture
Location and Geography: Lake County, Indiana, is located in the northwest corner of the state, bordering Illinois and Lake Michigan, with a mix of urban areas, suburban communities, and rural farmland. The county’s landscape includes flat to gently rolling farmland, wetlands, and forested areas.
Major Crops:
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Corn is a leading crop in Lake County, commonly grown for grain, animal feed, and ethanol production.
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Soybeans are widely planted across the county, valued for their versatility in food products and livestock feed.
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Wheat is also cultivated in the area, typically used for food production and as a rotational crop to maintain soil health.
Lake County’s agricultural scene is concentrated on a few key commodities – primarily corn, soybeans, and small grains like wheat – grown across the county’s roughly 123,600 acres of farmland, with cropland accounting for 111,576 acres. While livestock and dairy production exist, crop farming overwhelmingly dominates the market (about 97% of farm sales are crops) – in typical Indiana fashion, leveraging the region’s fertile glacial soils and favorable rainfall.
Buyer interest in Lake County farmland has remained strong. Listings show approximately 2,000 acres currently offered – placing Lake County among Indiana’s top ten counties by acreage for sale – even amid broader statewide trends of limited supply keeping demand firm. High-quality, tillable parcels tend to attract eager bids, whereas lower-grade or less accessible tracts may see softer pricing and fewer offers.
History & Background of Lake County, Indiana
County Seat: Crown Point
Townships: Calumet / Cedar Creek / Center / Eagle Creek / Hanover / Hobart / North / Ross / St. John / West Creek / Winfield
History: Formed in 1837, was named for its shoreline along Lake Michigan.
Population: 498,700
Cities & Towns: Gary / Hammond / East Chicago / Merrillville / Hobart / Lake Station / Crown Point / Whiting
Acreage: 319,000
According to the USDA National Agricultural Statistics Service (NASS), the following crop statistics have been reported for Lake County, Indiana.
The 2022 Ag Census for Lake County, Indiana, reported the following crop statistics:
Number of farms: 347
Land in farms (acres): 123,589
Average farm size (acres): 356
Total market value of products sold: $99,957,000
Government payments: $782,000
Farm-related income: $3,891,000
Total farm production expenses: $73,608,000
Net cash farm income: $31,022,000
Sources / Citations:
Source 1:
“United States Department of Agriculture.” USDA, www.nass.usda.gov/Statistics_by_State/Indiana/Publications/County_Estimates/index.php#:~:text=Access%20Quick%20Stats%20Lite,to%20NASS%20Surveys%20and%20Programs. Accessed 2 July 2025.
Source 2:
“USDA.” 2022 Census of Agriculture County Profile, www.nass.usda.gov/Publications/AgCensus/2022/Online_Resources/County_Profiles/Indiana/cp18089.pdf. Accessed 2 July 2025.
*The transaction and land sales data/information contained in this report was obtained from publicly available sources and sales disclosures deemed accurate and reliable but not guaranteed, no liability for accuracy, errors or omissions is assumed by Geswein Farm & Land Realty, LLC
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