Average Price of Land*
$10,044/acre
Jan. – Dec. 2024*
As high as $14,749/acre
in 2024*
Overall, the average price of farmland was $10,044/acre and the price per productivity index point was $143.91 in 2024 based on the sales data. It is important to note that in 2024 there have been farmland sales as high as $14,749 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.
According to Land.com, about 2,000 acres of farms, rural land, hunting land, and other properties were listed for sale in Madison County, Indiana, totaling around $81 million on Land.com. That puts Madison County at 24th in the state for the most land currently on the market. The city of Anderson had the largest share of these listings. Located in East Central Indiana, Madison County covers 452 square miles, making it the 21st largest county in the state.
xx
The most recent USDA farmland census reveals that Madison County had 682 farms managing about 196,215 acres, with around 18,642 acres in cropland, roughly 2,196 acres in pasture, 4,224 acres of woodland, and the rest in other uses like farmsteads and ponds. Farms in the county are fairly large–averaging around 288 acres–and the majority of their income (97%) comes from crop production, while livestock and animal products account for just about 3%.
xx
In terms of land management, conservation practices are being adopted by many Madison County producers: about 38% of farms use no-till, 15% employed reduced-till, 32% utilize intensive tillage, and 5% plant cover crops. Soybeans and corn dominate the crop mix, followed by smaller acreage devoted to wheat, hay. and sod/greenhouse production, with soybeans ranking as the top crop in acreage at over 96,000 acres and corn following close behind at more than 79,000 acres.
xx
xx
Overview of Madison County Agriculture
Location and Geography: Madison County is situated in east-central Indiana, northeast of Indianapolis, and is part of the broader Indy metro region. Its terrain is largely made up of flat to gently rolling farmland, ideal for crop production across its extensive agricultural areas.
Major Crops:
- Soybeans are the most widely planted crop in Madison County, occupying the greatest number of acres among all commodities.
- Corn for grain follows closely behind and is a key component of the county’s crop output, primarily destined for livestock feed and ethanol.
- Wheat is grown in smaller quantities, commonly used in rotational planting for soil health and grain production.
Madison County’s farmland spans approximately 196,200 acres, with around 97% of agricultural sales derived from crops–demonstrating the dominance of row crop farming in the local economy. Soybeans, corn, and smaller quantities of wheat and hay drive farm revenue, while conservation practices like no-till and cover crops are adopted on many farms.
xx
Despite its significant agricultural footprint, the county ranks around 24th in Indiana for land currently advertised for sale. Listings cluster primarily near Anderson, the county seat, which sees the highest volume of land offerings. Buyer interest remains solid, especially for productive cropland, though supply is limited compared to neighboring counties.
xx
History & Background of Madison County, Indiana
County Seat: Anderson
Townships: Adams / Fall Creek / Green / Jackson / Liberal / Madison / Monroe / Perry / Pipe Creek / Richland / Union
History: Formed in 1823; named for James Madison, the fourth U.S. President.
Population: 130,900
Cities & Towns: Anderson / Alexandria / Elwood / Pendleton / Frankton / Summitville / Markleville / Orestes / Redkey / Shamrock Lakes
Acreage: 289,000
According to the USDA National Agricultural Statistics Service (NASS), the following crop statistics have been reported for Madison County, Indiana.
The 2022 Ag Census for Madison County, Indiana, reported the following crop statistics:
Number of farms: 682
Land in farms (acres): 196,215
Average farm size (acres): 288
Total market value of products sold: $206,059,000
Government payments: $612,000
Farm-related income: $7,459,000
Total farm production expenses: $153,212,000
Net cash farm income: $60,917,000
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/cp18095.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
