Farm households often earn higher incomes than other types of households. In 2018, 57 percent of U.S. farm households received incomes at or above the median for all U.S. households, which was $63,179 that year.
ERS classifies farm households into 7 types based on their annual gross cash farm income (GCFI), and groups small farms by the primary occupation of the principal producer.
Median household incomes for 5 out of 7 farm types exceeded both the median U.S. household and the median income for households with self-employment income.
However, the median income for all family farm households is lower than the median among all U.S. households with self-employment income.
Overall, only 3 percent of farm households had lower wealth than the median U.S. household.
This chart appears in the December 2019 report, America’s Diverse Family Farms: 2019 Edition.