Median farm income, off-farm income, and total income of U.S. farm households, 2020–24F

Dollars (nominal)

Bar chart with 3 groups and 5 items per group.

Group 1, Median farm income.
Item 1, 2020 -1198.
Item 2, 2021 210.
Item 3, 2022 -800.
Item 4, 2023 -900.
Item 5, 2024F -751.
Group 2, Median off-farm income.
Item 1, 2020 67873.
Item 2, 2021 82809.
Item 3, 2022 82045.
Item 4, 2023 79900.
Item 5, 2024F 82775.
Group 3, Median total income.
Item 1, 2020 80060.
Item 2, 2021 92239.
Item 3, 2022 98015.
Item 4, 2023 97984.
Item 5, 2024F 100634.

Note: F = forecast. The median is the income level where half of all households have lower incomes and half have higher incomes. Because 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.

Source: USDA, Economic Research Service and USDA, National Agricultural Statistics Service, Agricultural Resource Management Survey. Data as of December 3, 2024.