Cash rental rates for Iowa farmland jumped 4.5% this year to an average of $232 per acre, marking the first substantial increase since 2013, according to an annual Iowa State University survey.

Statewide, the average rental rates for land planted to corn and soybeans increased $10 per acre from last year, reported ISU economist Alejandro Plastina, who coordinates the annual survey of farmers, landowners, professional farm managers and...