Farmland rent rates continue to be much lower on some of the province’s most expensive land, shows a survey data published by Prof. Brady Deaton of the University of Guelph.
In York Region, for example, rental rates in 2024 were only $75 an acre compared with $360 an acre in Huron County, even though sale prices in York averaged $55,000 an acre and in Huron County $25,000 in 2024.
Rental rates averaged $100 an acre in Peel Region while sale prices averaged $75,000 an acre, the highest in the province.
The reason why rents are so low on high-priced land is because developers own a significant chunk of the land in the urban areas and want it farmed so they can qualify for lower property tax rates.
