Farm Household Income Forecast
Median Income of Farm Operator Households Expected To Rise 3 Percent Between 2016 and 2017
Farm households typically receive income from both farm and off-farm sources. The total 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 rise over the next 2 years, reaching an expected $79,733 in 2017. In 2015, median farm income earned by farm households is estimated to be negative at -$765 and forecast to drop to -$1,328 in 2016 and -1,437 in 2017. 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—and median off-farm income is forecast to increase 6.7 percent over the next 2 years, from $67,500 in 2015 to $72,022 in 2017. (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.