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Farm Household Well-being - Farm Household Income Forecast

Suggested citation for linking to this discussion:

U.S. Department of Agriculture, Economic Research Service. (2025, September 3). Farm household well-being: Farm household income forecast.

Median Income of Farm Operator Households Forecast to Increase in 2025

Median total farm household income increased to $102,748 in 2024, a 4.9 percent (2.3 percent after inflation) increase from 2023. It is forecast to reach $109,515 in 2025 with an increase of 6.6 percent (3.7 percent after inflation) relative to 2024. 

Farm households typically receive income from farm and off-farm sources. Median farm income earned by farm households was -$1,830 in 2024 and is forecast to increase to -$1,189 in 2025. Many farm households primarily rely on off-farm income. Median off-farm income was $86,900 in 2024, an increase of 8.8 percent (6.1 percent after inflation) from 2023. In 2025, median off-farm income is forecast to increase by a further 3.4 percent (0.6 percent after inflation) to $89,881. Since 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. 

A bar chart shows median farm income, median off-farm income, and median total income of U.S. farm households for the years 2021 through a forecast for 2025.

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