Total Household Income up 16% for Commercial Farms Since 2015, Says USDA

According to the USDA’s Economic Research Service, the median total household income for commercial U.S. farms rose between 2015 and 2021 an estimated 16 percent, from $238,994 to $278,339.
Commercial farms likely earn more than $350,000 gross cash farm income regardless of the principal operator’s occupation.
The USDA also reports that in 2021, the median total household income for commercial farms remained above the median income of $75,201 for all U.S. households.
Farm households rely on a combination of on-farm and off-farm sources of income. On-farm income is determined by farm costs and returns that vary from year to year, and in any given year, a majority of farm households report negative farm income. Off-farm sources—including wages, nonfarm business earnings, dividends, and transfers—are the main contributor to household income for most farm households. Because households operating commercial farms rely mostly on on-farm sources of income, they experience the largest shocks in household income when farm sector income rises or falls.

Source: USDA Economic Research Service.

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