Suggested citation for linking to this discussion:
U.S. Department of Agriculture, Economic Research Service. (2025, February 6). Farm household well-being: Farm household income forecast.
Median Income of Farm Operator Households Forecast To Increase in 2024 and 2025
Median total farm household income is forecast at $100,840 in 2024, a 2.9 percent (0.4 percent after inflation) increase from 2023. It is forecast to reach $106,276 in 2025 with an increase of 5.4 percent (3.0 percent after inflation) relative to 2024.
Farm households typically receive income from farm and off-farm sources. Median farm income earned by farm households is forecast at -$651 in 2024 and is expected to reach -$328 in 2025. This follows a small forecast increase in farm income from 2023 to 2024. Many farm households primarily rely on off-farm income. Median off-farm income is forecast at $82,777 in 2024 after increasing 3.6 percent (1.1 percent after inflation) from 2023. In 2025 it is forecast to increase further by 3.3 percent (1.0 percent after inflation) to $85,528. 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.
