The Great Land Transfer: How Much U.S. Farmland Will Change Hands, and Who Owns It Now
A large share of America’s farmland belongs to people in their late 60s, 70s and 80s. New USDA data shows how much land they plan to sell, give away or pass on, and what it is worth. Here are the numbers, with every source linked.
Key findings
America’s farmland is in older hands, and a large share of it will pass to new owners over the next two decades. Most of it will move through wills, trusts and family gifts, not open-market sales.
- The average non-farming U.S. farmland landlord is 69.2 years old. Landlords 65 and older hold 74% of the value of the land and buildings these landlords rent out, about $1 trillion.[1][2]
- U.S. owners expect to sell or give away about 43 million acres of farmland in the next five years, roughly 5% of the total. Another 135 million acres are in or headed into wills, and 91.5 million into trusts.[1][2]
- American Farmland Trust estimates nearly 300 million acres of agricultural land could change hands in the next 20 years, about one-third of U.S. farmland.[8]
- U.S. farm real estate averaged $4,500 per acre in 2026, up 21% since 2022. All U.S. farmland and farm buildings were worth about $3.66 trillion in 2025.[5]
- In Oklahoma, 37% of farm producers are 65 or older, up from 34% in 2017. Oklahoma farm real estate averaged $2,620 per acre in 2026.[5][6][7]
Who owns America’s farmland today?
Much of it is owned by people who do not farm it. In 2024, about 2.1 million landlords rented out 348 million acres of U.S. farmland. Non-farming landlords owned 79% of those rented acres. Their average age was 69.2, and about half had never farmed.[1][2]
These numbers come from USDA’s Tenure, Ownership, and Transition of Agricultural Land (TOTAL) survey. It is the only federal survey that looks in detail at who owns farmland, not just who farms it. USDA’s National Agricultural Statistics Service ran it with the Economic Research Service. The newest results, for 2024, came out in March 2026. The survey before that covered 2014.[1][2]
The people who farm are older, too. The 2022 Census of Agriculture counted 3.4 million producers running 1.9 million farms on 880.1 million acres. Their average age was 58.1. About 38% were 65 or older, and that group grew 12% from 2017 to 2022, while producers age 35 to 64 fell 9%.[4]
Farmers and landlords are not always the same people. A retired rancher who leases pasture to a neighbor is a landlord. So is a teacher in Denver who inherited her grandfather’s wheat ground. In the 2024 survey, 40% of the acres non-farming landlords rent out came to them through inheritance, and 57% of these landlords were not in the paid workforce.[1]
How much farmland do older Americans own?
Among non-farming landlords, most of it. Landlords 65 and older rent out about 76% of the 276 million acres these landlords own, and hold 74% of the land and building value. By our math, that is about 210 million acres and $1 trillion. Landlords 75 and older alone hold 43% of the value.[1]
USDA reports these shares for “principal landlords,” the main person behind each non-farming landlord. More than a third of non-operating landlords were 75 or older. That group rented out more than 40% of the acres and held more than 40% of the asset value.[1]
This land is mostly paid off. About 95% of the acres rented out by non-farming landlords were fully paid for, and landlords 75 and older held only about 21% of these landlords’ land debt.[1]
What we can and cannot say. These figures cover land that is rented out, about 40% of U.S. farmland. They do not cover land farmed by its owner. USDA’s 2024 release does not give one age breakdown for every farmland owner, so we do not claim that older Americans own a majority of all U.S. farmland. The dollar and acre totals above are Twin Sun calculations from USDA’s published percentages.
How much U.S. farmland will change hands in the next five years?
About 43 million acres, roughly 5% of U.S. farmland, based on owners’ own plans in USDA’s 2024 survey. That is land owners expect to sell or give away: about 22.8 million acres to non-relatives, 12.8 million to relatives, and 7.4 million as gifts or donations.[1][2]
That headline number leaves out the biggest channel: estates. About 135.2 million acres are in, or will be written into, a will in the next five years, and 91.5 million acres are in, or will be placed in, a trust.[1] A will or trust does not move land by itself. It sets up the next owner, and the land changes hands later, often when the owner dies.
The pace of open-market sales looks steady. In the 2014 survey, owners expected to sell about 21.1 million acres to non-relatives from 2015 to 2019.[9] The 2024 survey puts that figure at 22.8 million acres for the next five years.[1] Survey methods changed between rounds, so treat this as a rough comparison.
What is it worth? At the 2026 national average of $4,500 per acre, 43 million acres would be worth roughly $190 billion.[5] This is our rough illustration only. Land value swings widely by state, soil, water and location, and gifted land has no sale price at all.
Survey estimates carry sampling error. Some of these categories are less precise than others. For example, USDA’s coefficient of variation on acres to be sold to relatives is about 39%, which means a wide margin of error.[3]
How much farmland will change hands over the next 20 years?
No federal survey measures this directly. American Farmland Trust, a national farmland nonprofit, estimates that nearly 300 million acres of agricultural land could change hands in the next 20 years. That is about one-third of the land in farms in the contiguous U.S. Treat it as an estimate, not a count.[8]
USDA’s long-range data points the same way. When asked about any time frame, non-farming landlords said they plan to pass on their rented-out acres mainly through wills (42%) and trusts (26%). Far fewer plan to sell to a non-relative (7%), sell to a relative (2%) or gift the land (2%). One in five (20%) reported no plan at all.[1]
Age does the rest. Landlords 75 and older already rent out about 43% of non-farming landlords’ acres.[1] Over a 20-year window, a large share of that land will move to the next generation, whether or not a plan is in place.
Estimates from different groups vary with their methods and time frames. We use the figure American Farmland Trust publishes on its own website.
How much is U.S. farmland worth in 2026?
U.S. farm real estate, meaning land plus buildings, averaged $4,500 per acre in 2026, up 3.4% from 2025. Cropland averaged $6,020 per acre and pasture $2,000. All farmland and farm buildings in the 48 contiguous states were worth about $3.66 trillion in 2025.[5]
Values keep rising, but more slowly. The national average was $3,720 per acre in 2022, so 2026 is about 21% higher.[5] The land and buildings that landlords rent out were valued at about $1.7 trillion in 2024, up 47% from 2014.[1]
The Great Land Transfer by the numbers: United States vs. Oklahoma
| Measure | United States | Oklahoma | Source |
|---|---|---|---|
| Average age of farm producers (2022) | 58.1 | 57.7 | [4][7] |
| Producers age 65 and older (2022) | 38% | 37% (a) | [4][7] |
| Land in farms (2022) | 880.1 million acres | 32.9 million acres | [4][6] |
| Farm real estate, average per acre (2026) | $4,500 | $2,620 | [5] |
| Cropland, average per acre (2026) | $6,020 | $2,560 | [5] |
| Pasture, average per acre (2026) | $2,000 | $2,200 | [5] |
| Value of all farmland and buildings (2025) | $3.66 trillion (b) | $83.3 billion | [5] |
| Acres owners expect to sell or gift in the next 5 years | About 43 million (about 5%) | Not published by state | [1][2] |
| Average age of principal non-farming landlord (2024) | 69.2 | Not published by state | [1][2] |
(a) Twin Sun calculation from Census of Agriculture counts: 46,618 of 124,743 Oklahoma producers. (b) 48 contiguous states.
Oklahoma on the ground: what does the transfer look like here?
Oklahoma’s farmers are aging like the rest of the country. In 2022, 37% of Oklahoma producers were 65 or older, up from 34% in 2017. Oklahoma farm real estate averaged $2,620 per acre in 2026, about 58% of the U.S. average, but pasture is worth more per acre here than nationally.[5][7]
Oklahoma had 70,378 farms on 32.9 million acres in 2022. Pasture is the backbone: 18.7 million of those acres, about 57%, were pastureland.[6] About 14% of Oklahoma producers (17,737 people) were 75 or older.[7]
Values have climbed. Oklahoma farm real estate rose from $2,070 per acre in 2022 to $2,620 in 2026, about 27%. Pasture rose 4.8% in the last year alone, to $2,200 per acre. All Oklahoma farmland and farm buildings were worth about $83.3 billion in 2025.[5]
USDA does not publish 2024 TOTAL results for single states. Oklahoma sits in the survey’s Plains region, which has more rented farmland than any other: 149.4 million acres, or 43% of the national total.[1] The counties with the most land in farms are Osage, Texas, Cimarron, Beaver and Woods.[6] (Our Osage County page covers local records and taxes.)
On the ground, an Oklahoma land transfer often comes with practical knots: heirs who live in other states, several cousins on one deed, a relative’s name still on the title, or mineral rights that were split off decades ago. None of these has to stop a sale, but each one takes time. Our guides on selling inherited land in Oklahoma and selling Oklahoma land from out of state walk through the steps.
What does the Great Land Transfer mean for landowners and heirs?
Plan early and get advice. Most farmland moves through wills and trusts, so the paperwork done now decides how smoothly land passes later. Inheriting can bring real tax benefits, such as a stepped-up basis, so selling, gifting and holding each have trade-offs. An estate attorney and a CPA can map yours.
If you own land:
- Know what you own. Keep copies of deeds, the legal description, any leases, and records of mineral rights.
- Put your wishes in writing. A will, a trust or a transfer-on-death deed (where your state allows one) can save your family months of court work.
- Talk to your family. Many disputes start because heirs learn the plan too late, or learn there was none.
Taxes cut both ways. Under federal rules, an heir’s tax basis in inherited property is generally its fair market value on the date of death. This is called a stepped-up basis. If the heir sells soon after, the taxable gain may be small. Land given away during the owner’s life usually keeps the giver’s original basis instead.[10] That is one reason timing matters. Federal estate tax applies only to estates above $15 million per person for deaths in 2026, though state rules differ.[11]
If you inherit land:
- Find out who is on the title. If a relative who died is still the owner of record, a court step such as probate often comes first.
- Get a sense of value. County records, recent nearby sales and a local appraiser can help. Oklahoma owners: find your county’s records.
- Compare your options. You can keep the land and lease it, list it with an agent, sell at auction, or sell directly to a buyer. Each trade-off is different: price, speed, cost and hassle. (Oklahoma owners: see how selling land in Oklahoma works.)
- Count the cost of waiting. Property taxes, upkeep and liability keep running. When many heirs share one property, every owner usually has to sign before it can be sold. See what happens when Oklahoma land taxes go unpaid.
This article is general information, not legal, tax or financial advice. Laws change and every family is different. Talk to an estate attorney and a CPA before you sell, gift or transfer land.
Frequently asked questions
What is the Great Land Transfer?
It is the large shift in U.S. farmland ownership expected as older owners pass land to heirs or sell it. USDA’s 2024 survey found the average non-farming landlord is 69.2 years old, and American Farmland Trust estimates nearly 300 million acres could change hands in the next 20 years.
How old is the average U.S. farmland owner?
It depends on the group. The average farm producer was 58.1 years old in the 2022 Census of Agriculture. The average principal non-farming landlord, who rents land to farmers, was 69.2 years old in USDA’s 2024 TOTAL survey.
How much is farmland worth per acre in 2026?
U.S. farm real estate averaged $4,500 per acre in 2026, according to USDA. Cropland averaged $6,020 and pasture $2,000. In Oklahoma, farm real estate averaged $2,620 per acre, cropland $2,560 and pasture $2,200.
Do heirs pay capital gains tax when they sell inherited land?
Often less than you might think. An heir’s tax basis is generally the land’s fair market value on the date of death, so a sale soon after may show little taxable gain. Every case is different, so ask a CPA before you sell.
Should I sell inherited land or keep it?
It depends on your goals, your family and your taxes. Keeping land can bring rent and long-term growth. Selling can end tax bills, upkeep and disputes among heirs. Compare options and get advice from an estate attorney and a CPA.
How we did this
All figures come from USDA’s National Agricultural Statistics Service, USDA’s Economic Research Service, American Farmland Trust and the IRS, as listed below. Numbers marked as our calculations are simple math on those published figures. We checked every source on October 8, 2026. If a number could not be traced to a primary or authoritative source, we left it out. See more Land Insights research.
How to cite this article: Twin Sun Land Company team, “The Great Land Transfer,” Twin Sun Land Co., October 2026, https://twinsunlandco.com/land-insights/great-land-transfer/
Sources
- USDA National Agricultural Statistics Service (NASS), Farmland Ownership and Tenure: Results from the 2024 Tenure, Ownership, and Transition of Agricultural Land (TOTAL) Survey, Census of Agriculture Highlights ACH22-28, March 2026. https://www.nass.usda.gov/Publications/Highlights/2026/TOTAL24.pdf
- USDA NASS, news release, “Most of the U.S. Rented Farmland is Owned by Non-Farmers,” March 12, 2026. https://www.nass.usda.gov/Newsroom/printable/2026/03-12-2026.pdf
- USDA NASS, 2024 TOTAL data tables (Quick Stats), including coefficients of variation. https://www.nass.usda.gov/Publications/AgCensus/2022/Online_Resources/TOTAL/index.php
- USDA NASS, 2022 Census of Agriculture Highlights: Farm Producers, ACH22-2, February 2024. https://www.nass.usda.gov/Publications/Highlights/2024/Census22_HL_FarmProducers_FINAL.pdf
- USDA NASS, Land Values 2026 Summary, released July 31, 2026. https://release.nass.usda.gov/reports/land0726.pdf
- USDA NASS, 2022 Census of Agriculture State Profile: Oklahoma. https://www.nass.usda.gov/Publications/AgCensus/2022/Online_Resources/County_Profiles/Oklahoma/cp99040.pdf
- USDA NASS, 2022 Census of Agriculture, Oklahoma State Data, Table 62: Selected Producer Characteristics, 2022 and 2017. https://www.nass.usda.gov/Publications/AgCensus/2022/Full_Report/Volume_1,_Chapter_1_State_Level/Oklahoma/st40_1_062_062.pdf
- American Farmland Trust, “Farm Legacy” program page (accessed October 8, 2026). https://farmland.org/farm-legacy
- Bigelow, D. and Hubbs, T., “Land Acquisition and Transfer in U.S. Agriculture,” USDA Economic Research Service, Amber Waves, August 2016. https://www.ers.usda.gov/amber-waves/2016/august/land-acquisition-and-transfer-in-u-s-agriculture
- Internal Revenue Service, Publication 551, Basis of Assets. https://www.irs.gov/publications/p551
- Internal Revenue Service, “What’s new: Estate and gift tax” (basic exclusion amount for 2026). https://www.irs.gov/businesses/small-businesses-self-employed/whats-new-estate-and-gift-tax
Published October 2026 by the Twin Sun Land Company team. General information, not legal, tax or financial advice.
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