USDA: Farm Household Income Forecast

Farm Household Income Forecast

USDA – Economic Research Service
January 9, 2017

Median Income of Farm Operator Households Expected To Stabilize in 2016

The median income of U.S. farm households increased steadily over 2010-14, reaching an estimated $81,637 in 2014. After dipping in 2015 to $76,735, median household income is forecast to remain essentially unchanged in 2016, at an expected $76,839. Median farm income earned by farm households is estimated to be -$765 in 2015 and forecast to be -$1,412 in 2016. In recent years, slightly more than half of farm households have lost money on their farming operations each year; most of these households earn positive off-farm income—median off-farm income is forecast to increase 2.7 percent, from $67,500 in 2015 to $69,317 in 2016. (Because farm and off-farm income are not distributed identically for every farm, median total income will generally not equal the sum of median off-farm and median farm income.)

See the Farm Household Income and Characteristics data product tables for financial statistics of farm operator households.