The proportion of family farm households with income below the U.S. median of $80,610 was 42%, and the share with lower wealth was 5%.
The proportions varied in 2023 depending on the type of farm, with small farms tending to have a greater share below the U.S. median. Low-sales family farms had the highest proportion (73%) of households with incomes below the U.S. median, and very large family farms had the smallest proportion (10%).
For household wealth, measured as the value of the assets of all household members minus debt, the median total for all family farm households was $1.4 million, compared with the median of $200,662 for all U.S. households. About 5% of all family farm households had wealth below the U.S. median, with that percentage ranging from none to 7% depending on the size and type of farm. — USDA Economic Research Service
