I realize I haven't posted much lately, but I found this article and wanted to share it.
Progressive Forage Grower Online
Written by Progressive Forage Grower Editor Lynn Jaynes Published on 07 Sep 2015
Non-farming landlords, according to a recently released 2014 survey, own 80 percent of U.S. rented farmland. The report states, “In 2014, all of the landlords combined received $31.2 billion in rental income while incurring $9.2 billion in total expenses.”
The USDA National Agricultural Statistics Service released results of the survey and listed holdings of rented farmland acres with buildings, which reached a total value of more than $1.1 trillion.
The average age of landlords is 66.5 years old. Principal landlords who are under 55 years old constitute only 18 percent. Nearly 45 percent of all principal landlords have never farmed.
The report also stated one-tenth of the 911 million U.S. farmland acres (outside of Alaska and Hawaii) has planned ownership transfer in the next five years. This figure does not include farmland that is included or expected to be included in wills. At least 21 million acres are expected to be sold to a non-relative. The report also said increasing numbers of families are creating trust ownerships to make sure land remains in the family for farming or as an investment.
The full report can be found at the USDA Census of Agriculture website. FG
