What is in this article?:
- Landlord Shock | Farmers Learn New Perspectives From Next-Generation Landlords
- Aging landlords spell change
Aging landlords spell change
Landlords factor when considering the current increase in land values and future sales is the age of the landowner. Although national data has limitations, it provides ample
Landlords continue to age, according to a variety of data. The percentage of Iowa farmland owned by someone over 65 years of age increased from 29% in 1982 to 55% in 2007 (Duffy and Smith, 2008).
More recent studies in Iowa and elsewhere support the findings that farmland is increasingly being held in the hands of the elderly.
A 1999 USDA national study, in conjunction with the 1997 Census of Agriculture, discussed the age structure of American farmland owners. The study found that 28% of the owners with 29% of the land were over 70 years of age. In comparison, a similar report in 1988 using 1987 Census data reported 25% of the owners were over 70 years of age. In just one decade there was a 3% increase in the percent of farmland owners over 70 years of age.