USDA Survey Shows Most U.S. Farmland Is Owned by Older, Non-Operating Landlords
- Brooke Bouma Kohlsdorf
- 1 hour ago
- 2 min read
The U.S. Department of Agriculture has released updated information on farmland ownership in the United States and how much of that land is rented to others.
The 2024 Tenure, Ownership, and Transition of Agricultural Land (TOTAL) Survey is part of the Census of Agriculture program and is designed to provide a clearer picture of farmland ownership and management across the country.
One of the report's key findings is that farmland ownership remains concentrated among older, non-operating landlords, with rental agreements continuing to play a dominant role in how agricultural land is managed.
Highlights from the report
Approximately 2.1 million landlords rented out 348 million acres of farmland.
87% of landlords did not farm the land themselves.
Rental income, farmland values, and debt levels have all increased over the past decade, with rented land and buildings now valued at $1.7 trillion.
The average principal landlord is 69 years old, and landlords age 75 and older control about 40% of rented acres and rental income.
Most non-operating landlords acquired their land through inheritance or trusts.
Operating landlords primarily purchased their farmland.
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Future turnover of land
The TOTAL survey also shed light on generational land transfer, an issue that has drawn increasing attention in recent years.
According to USDA, only 5% of farmland is expected to change ownership through sales or gifts over the next five years.
In addition:
Ten percent of owned farmland is expected to be placed into a trust during the next five years.
Another 15% is expected to be transferred through wills.
The report suggests most landlords plan to pass their land to heirs through wills or trusts, reinforcing long-term stability in farmland ownership.
Who owns U.S. farmland?
According to the survey:
38% of farmland is privately owned.
27% is owned by trusts.
26% is owned by family-owned legal entities.
The survey also examined how non-operating landlords acquired their land:
40% inherited their farmland.
11% acquired it through a trust.
3% received it as a gift.
Operating landlords had a different ownership history:
38% primarily purchased land from non-relatives.
19% purchased land from relatives.Â
Regional and financial trends
The Plains, Midwest, and West account for the majority of rented farmland. The Midwest had the largest number of landlords, with nearly 800,000.
Financially, landlords received $34.1 billion in rental income while carrying $50.7 billion in debt. Ownership expenses accounted for the largest share of their costs.
RELATED: American Farmland Owner has tracked how farmland owners can find tax savings.Â
