Over two million landowners rented out 348 million acres of farmland. That’s according to the results of the 2024 Tenure, Ownership, and Transition of Agricultural Land (TOTAL) survey results released by the National Agricultural Statistics Service. Of these, 79 percent are owned by non-farming landowners. Non-operating landowners include entities that rent out agricultural lands under a variety of ownership arrangements, such as privately owned, trust, family entity, non-family entity, or others. Of the land rented by non-operating landlords, over 251 million acres were rented out by private landowners, trusts, or family entities. According to the survey results, rented farmland acres, combined with the buildings on this land, are valued at over $1.6 trillion. In 2024, landlords combined received $34.1 billion in rental income while incurring $12 billion in total operating expenses. The report also showed that the average age of landlords is 69.2 years old, which exceeds that of the average farmer, who is 58.1 years old.
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