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Image: Farm Economy

Limited-Resource Farmers

Only 7.4 percent of family farm households were classified as limited-resource farms in 2012, based on relatively low farm sales and low household income (see table on the characteristics of principal farm operator households, by limited resource farmer status, 2012 Excel icon (16x16)). On average, they lost money farming on a cash basis (after depreciation). Some of these households had large farm losses, which explains why their median income is higher than their average income. (The opposite is usually true for most farm classifications.) Their relatively low off-farm income is not surprising, given that nearly 55 percent of principal operators of limited-resource farms are age 65 or older. However, in spite of their low sales and household income, their median net worth was over $376,000 in 2012.

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Last updated: Wednesday, October 08, 2014

For more information contact: James Williamson