There are 6.31 million acres of farmland rented out by landlords in the Northeastern region, according to the results of the 2014 Tenure, Ownership, and Transition of Agricultural Land (TOTAL) survey released August 31 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 allows analysis of rented farmland acreage, by landlord arrangements, land use, transfer methods (or expectations), and economics. Non-operator landlord ownership arrangements, such as partnerships, corporations, trusts, and other types of ownership, were also analyzed.
According to TOTAL findings, there are 147,047 farmland landlords in the region. Of these, 17,511 were farmers, while 129,536 are non-farming landlords. Cropland made up 87 percent of all Northeastern farmland rented, while 5 percent were pasture acres rented. The rest of the rented farmland in the region were acres used for forests and other land uses.
In the next five years, Northeastern farmland landlords expect to transfer 2.50 million acres to different owners. Of these, 911,255 acres are expected to be sold to non-relatives, 518,758 are expected to be sold to relatives, 713,412 are expected to be put in trust, and 357,160 acres landlords expect to gift away.