USDA: Total household income rises for commercial farms
Source: USDA Economic Research Service
WASHINGTON, DC - From 2015 to 2021, the median total household income for commercial U.S. farms rose an estimated 16 percent, to $278,339 from $238,994. Commercial farms earn more than $350,000 gross cash farm income regardless of the principal operator's occupation.
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.