Young growers tend to rent more of the land they use than their older counterparts, according to data from the latest U.S. Farmland Ownership, Tenure, and Transfer report.
In 2014, 60% of farmland acres in the United States were found in part-owner operations, 32% in full-owner operations, and 8% in full-tenant operations, according to the U.S. Farmland Ownership, Tenure, and Transfer report.
Nearly 27% of younger farmers had acreage in full-tenant operations while only 7% of farmers 65 and older had full-tenant operations. It can take time for farmers to build up the financial capacity to purchase land outright; rental agreements can help young farmers and ranchers gain access to land during this time.
The majority of farmland, nearly three-fourths of U.S. acreage, is operated by farmers 55 and older, who account for 83% of all land in full-owner operations.