Structure and Finances of U.S. Farms: 2005 Family Farm Report

by Robert A. Hoppe and David Banker

Most farms in the United States-98 percent in 2003-are family farms. They are organized as proprietorships, partnerships, or family corporations. Even the largest farms tend to be family farms. Very large family farms account for a small share of farms but a large-and growing-share of farm sales. Small family farms account for most farms but produce a modest share of farm output. Median income for farm households is 10 percent greater than the median for all U.S. households. Small-farm households also receive substantial off-farm income.

Keywords: Agricultural Resource Management Survey, family farms, farm businesses, farm financial performance, farm-operator household income, farm operators, farm structure, farm type, multiple-operator farms, multiple-generation farms, small farms, contracting

In this publication...

• Entire Report
• Report Summary
• Abstract, Acknowledgements, Contents, and Summary
• Introduction
• Special Feature: Multiple-Operator Farms
• U.S. Farms: Numbers, Size, and Ownership
• Farm Income and Financial Performance
• Sources and Levels of Operator Household Income
• Government Payments
• Farm Business Arrangements
• Conclusions
• References
• Appendix 1: Comparing ARMS and Census Estimates of Multiple-Operator Farms
• Appendix 2: Measuring Operator Household Income and Net Worth