Farmland ownership across the United States and Canada is undergoing long-term structural change. While farm consolidation continues, with fewer farms operating larger acreages, ownership remains concentrated among individuals and families rather than institutions.
Data shows a significant decline in farm counts since peak levels, with approximately 72% fewer farms in the U.S. and 74% fewer in Canada. At the same time, the average age of farmers continues to rise, and a large share of farmland is held by operators nearing retirement. Many farms lack formal succession plans, pointing to a gradual generational transition in ownership.
Despite these shifts, institutional and foreign ownership remain limited. This leaves farmland markets relatively fragmented and underfinancialised compared to other asset classes.
These structural dynamics shape how farmland is bought, sold, and managed, and help explain the pace and nature of consolidation across North America.