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.
Economic Research Service (ERS) classifies farm households into seven types based on their annual gross cash farm income, and groups small farms by the primary occupation of the principal producer. Median household incomes for five out of seven 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. — USDSA ERS
