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USDA's first farmland landlord survey-NC has 3.6 million acres of farmland rented out
Story Date: 9/2/2015
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Source: USDA, 9/1/15
There are over 3.6 million acres of farmland rented out by landlords in NC, according to the results of the 2014 Tenure, Ownership, and Transition of Agricultural Land (TOTAL) survey released August 31, 2015 by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS).
NASS conducted the survey in cooperation with the USDA’s Economic Research Service to get a better insight into who owns U.S. farmland. TOTAL was the first time NASS surveyed farmland landlords since 1999. The survey results provide analysis of rented farmlands by acreage, as well as by landlords, which include individuals, as well as ownership arrangements such as partnerships, corporations, trusts, and other types of ownership.
According to TOTAL findings, there are 74,817 farmland landlords in North Carolina. The average age of the non-operator principal landlord was 66.5 years compared to the 58.9 years for farm operators in the 2012 Census of Agriculture. Of the principal landlords, 34.9 percent never farmed. Cropland made up 84 percent of all North Carolina farmland rented, while 9 percent were pasture acres rented. The rest of the rented farmland in North Carolina were acres used for forests and other land uses.
In the next five years, North Carolina farmland landlords expect to transfer 705,535 acres to different owners. Of these, 321,639 acres are expected to be sold to non-relatives and 148,020 acres landlords expect to gift away.
For complete TOTAL results, visit agcensus.usda.gov/Publications/TOTAL.
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