More than half of US farmers will retire in the next decade

Farmers over the age of 55 control more than 50% of US farmland. Who is going to get that farmland when they retire in less than 10-years?

Turnovers happen in any industry. But a turnover of more than 50% of that current industry with not enough talent, workforce support, or interest to back it up… spells disaster.

More than 50% of current US farmers will retire in the next decade. These farmers own more than 50% of US farmland. Their retirement begets two very important questions:

• What will happen to this farmland?

• Who is going to take their place?

The number of entry-level farmers has fallen by 30% since 1987. Farming wasn’t promoted in school or encouraged to the millennial and Gen Z generations. For those of us waking up to the call of stewarding the land in our 20s, 30s, and 40s, the price of entry is too steep for the average ‘young person’ to give it a go. There are inputs, like fertilizer, machinery, and seeds, as well as shouldering the cost of acreage: the average cost of one acre of farmland in the US is $4,170.

And with the average size of an American farm being 444 acres, that totals $1,851,480 in land value.

Obviously, the average person can’t swing that.

But not all hope is lost.

From my own experience buying 6.74 acres of farmland to convert it into some kind of agricultural business, I have discovered a few ‘trends’ that are exacerbating this farming problem.

Farms are getting bigger

Though we have fewer and fewer farms in the US every year, statistics show that the existing operations are getting bigger. The corporate conglomerate entities are swallowing up the small to medium sized operations. When a newbie wants to enter this market and sees they need around 400 acres to be competitive, they give up. While they call it quits, these farmers over the age of 55 have no one to sell their farms to… and end up taking the money from Wall Street and international agricultural corporations so they can walk away with no debt. It’s bad for the environment - but can you blame the farmer in the end?

I have talked with the farmers around my farm and discovered that these farmers don’t want to sell to Wall Street. But at the end of the day, they have no choice. Many of their kids went to universities far away, never to return. Others never had kids. If a well-meaning millennial knocked on their door to try and make something work, they would much rather prefer that option to what’s currently happening.

The problem is that people don’t 1) realize that’s the case or 2) know how to make this contact happen.

Before I explore solutions to buying the farms from the farmers, I want to also touch on something else I’ve discovered on my land.

You don’t need hundreds of acres to turn a profit or feed your community

Dozens of new farmers on social media are detailing how they are turning 1/3rd of an acre into a farming operation that feeds their family with surplus to sell at farmers markets and farm stands. Others are showing how they feed 70 families through a CSA (community supported agriculture) program run on their 3 acres. Inputs are needed, of course, like labor support, machinery, and systems. But these farmers are showing that in the end, they profit just as much as the big operations without all of the expensive inputs, like $50,000 tractors and tons of pesticides.

With smaller, family-run operations, the farms can host agrotourism services, like walking tours, food tours, festivals, workshops, etc. They can also earn money through sharing their farm operations on social media. We are in a ‘watcher economy’ today, and whether people like it or not, there is money in sharing your life on the internet. As humans, we are curious about what our neighbors are doing, and can’t help but take in the content. The content turns into payments through views, brand deals, sponsorships, trades, or simply, an increase in foot traffic at the physical business.

I break down in this article how I am doing just that with my farm stand currently.

For all of this to be possible, young people need to get their hands on this farmland. I just went through this process and can share what I observed to be true when finding my nearly 7 acres of land in a protected New York agricultural district.

Farmland is for sale all around you

First, there are two main avenues you can choose to find this farmland:

1. The internet

2. Word-of-mouth

I went by route of the internet. I found my land on Zillow back in 2023 (I break down that process here). I was not going to be able to afford the price of my land since it’s in an expensive county… until I discovered I could get a loan for undeveloped farmland. I had no idea that was an option. I always figured the land either needed to be developed or come with a structure. My land had no driveway, septic tank, electricity, or mailbox. But I got a loan, nevertheless! My loan currently sits with Farm Credit East, which is the Northeast division of Farm Credit.

Most people don’t realize Farm Credit was established over a century ago by the US government to make it easier for citizens to buy and work farmland. And it is separate from the USDA (and no longer managed by the federal government).

The USDA is an option as well with 0% down programs for low income individuals. From my experience, Farm Credit was easier to work with. Still, I would explore your options with the USDA. Call your local county office - mine has been very friendly and responsive.

As for the word-of-mouth route, this one is going to produce the best deals. You have the following options:

• seller financing through the farmer

• renting a portion of a farm from the farmer

Farmers are open to both of these options. All you have to do is ask. That involves driving to them, calling them, emailing them, or patronizing their business and building a relationship. There’s also town meetings, bulletins, and businesses where you can mingle with those around you. These farmers don’t want to manage 444 acres alone anymore either.

I explore these topics, in-depth, including what my land cost me, etc. here on my newsletter.

The wealth transfer of our lifetimes is beginning

This farmland is changing hands as we speak. It’s a much better future if it remains idyllic farmland, perhaps with fewer pesticides and chemicals, as opposed to being cleared for parking lots and solar fields. I write about these topics to hopefully inspire other people under the age of 50 to jump onboard with me. I am currently working my land, solo, with a goal of farming/gardening 2 of the acres this summer. My focus this week is preparing the land for 20 different fruiting trees and bushes I ordered in February.

If I can do this, slowly but surely, then others can, too. I plan to detail everything I learn along the way here. Please do follow along with me.

Do you know of farmers that are about to retire? Farmland for sale? Share it below! Perhaps it will reach the right pair of eyeballs. The fight to save American farmland is going to occur at the local level.