Morgan County, Indiana
2024 Land Sales Report
In Morgan County, land values rose again in 2024, continuing a multi-year upward trend. However, the pace seems to be moderating in 2025.
If you’d like to get specific land values on your own property or a farm near you for 2025, please contact Nick George at (317) 840-1764, Chris Turnbell at (812) 318-4163, or Rob Haubry at (812) 525-8998.
Average Price of Land*
$11,262/acre
Jan. – Dec. 2024*
As high as $22,549/acre
in 2024*
Land Market Commentary & Local Trends
Overall, the average price of farmland was $11,262/acre and the price per productivity index point was $148.57 in 2024 based on the sales data. It is important to note that in 2024 there have been farmland sales as high as $22,549 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, nearly 4,000 acres recently listed for sale. That puts Morgan County in the top 10—seventh, to be exact—out of all 92 counties in Indiana for the most land on the market. Most of those listings have been around Martinsville, which has seen the highest volume. Located in Central Indiana, Morgan County spans about 409 square miles, making it the 39th largest county in the state.
The most recent USDA farmland census reveals that Morgan County is home to 506 farms managing a total of 130,356 acres, which is a slight decrease from 2017. On average farms span about 258 acres each. Of that acreage, approximately 110,531 acres are used for cropland, with the remainder divided among pasture, woodland, and other farm-related uses. Crop production drives the local ag economy–accounting for about 89% of farm sales–with livestock and animal products contributing the rest. Sustainable farming practices are gaining ground here: around 28% of farms use no-till, 13% follow reduced tillage, 17%rely on intensive tillage, and just under 5% plant cover crops to support soil health. The top crops in Morgan County are nearly equal in acreage: about 49,546 acres of corn for grain and 49,285 acres of soybeans, with smaller plantings of hay and wheat. Overall, Morgan County reflects a mature, crop-focused farming region that’s steadily incorporating conservation measures to sustain productivity.
Overview of Morgan County Agriculture
Location and Geography: Morgan County, Indiana is located in the central part of the state, nestled between Indianapolis to the northeast and Bloomington to the southwest. Its landscape features a mix of gently rolling hills, flat farmland, and wooded areas, with the White River winding through the county’s center.
Major Crops:
- Corn: widely planted across the county and serves as a staple crop used for both livestock feed and ethanol production.
- Soybeans: another dominant crop, valued for their versatility in food products and industrial uses.
- Wheat: grown on a smaller scale but remains an important rotational crop that helps maintain soil health and diversify farm income.
Morgan County, Indiana, is a hub for traditional Midwestern agriculture, with approximately 506 farms managing around 130,356 acres. The county’s fertile soils and favorable climate support a diverse range of crops, including corn, soybeans, and wheat. Corn and soybeans dominate the landscape, with wheat serving as an important rotational crop that helps maintain soil health. Farmers in the region are increasingly adopting sustainable practices, such as no-till farming and cover cropping, to enhance soil health and reduce erosion. These practices not only improve long-term productivity but also align with broader environment goals.
The demand for agricultural land in Morgan County remains strong, driven by both local farmers seeking to expand operations and investors interested in the region’s productive soils. Recent listings indicate a significant amount of acreage available, with properties ranging from small hobby farms to large tracts suitable for commercial agriculture. While the market has experienced some fluctuations, the overall trend shows resilience, with land value maintaining a steady upward trajectory over the past few years. This sustained interest underscores the county’s reputation as a stable and productive agricultural region.
History & Background of Morgan County, Indiana
County Seat: Martinsville
Townships: Adams / Ashland / Baker / Brown / Clay / Gregg / Green / Harrison / Jackson / Jefferson / Madison / Monroe / Ray / Washington
History: Established in 1822; Named after General Daniel Morgan, a Revolutionary War hero known for his role at the Battle of Cowpens.
Population: 75,160
Cities & Towns: Martinsville / Mooresville / Monrovia / Morgantown / Brooklyn / Bethany / Paragon
Acreage: 258,500
According to the USDA National Agricultural Statistics Service (NASS), the following crop statistics have been reported for Morgan County, Indiana.
The 2022 Ag Census for Morgan County, Indiana, reported the following crop statistics:
Number of farms: 506
Land in farms (acres): 130,356
Average farm size (acres): 258
Total market value of products sold: $122,372,000
Government payments: $631,000
Farm-related income: $3,579,000
Total farm production expenses: $79,331,000
Net cash farm income: $47,251,000
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/cp18109.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
Thinking About Selling?
Need Advice?
Get the guidance, service, and professional expertise you deserve.
- Family Farm Advisory for Succession Planning
- Undivided Interests & Tenants in Common
- Farmland Management Decisions
- Auctions & Listing
With our full-time experienced team, you’ll get our ‘boots on the ground’ work ethic paired with the latest in digital technology & national marketing reach – for best-in-class service and results.
Because you deserve more value.
Contact Us