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Measures of Farm Household Well-Being Tell Different Stories

Author

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  • Jones, Carol Adaire
  • Milkove, Daniel

Abstract

Traditionally, the economic well-being of households is gauged by indicators of the financial resources available–— household income and, when available, wealth. ERS publishes estimates of farm household income and wealth based on responses to USDA’s annual Agricultural Resource Management Survey (ARMS). Since 1998, average farm operator household income has exceeded that of the typical U.S. household by 3 to 21 percent, and median farm household wealth has been 4-5 times that of all U.S. households. But the variability of income complicates farm-nonfarm comparisons.

Suggested Citation

  • Jones, Carol Adaire & Milkove, Daniel, 2010. "Measures of Farm Household Well-Being Tell Different Stories," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, pages 1-2.
    • Handle: RePEc:ags:uersaw:122157
    DOI: 10.22004/ag.econ.122157
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    Cited by:

    1. Regmi, Madhav & Featherstone, Allen M., 2017. "Farm Households Consumption Heterogeneity And Rural Business Dynamics," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252755, Southern Agricultural Economics Association.

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    Keywords

    Farm Management;

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