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Off-Farm Income a Major Component of Total Income for Most Farm Households in 2019

Author

Listed:
  • Giri, Anil K.
  • Subedi, Dipak
  • Todd, Jessica E.
  • Litkowski, Carrie
  • Whitt, Christine

Abstract

Off-farm income—such as pensions, investment income, or wages and salary from an off-farm job—is an important source of total income for U.S. farm households. In 2019, 96 percent of farm households derived some income from off-farm sources. On average, off-farm income contributed 82 percent of total income, or $101,638, for all family farms in 2019. Smaller farms tend to rely more on off-farm income than larger farms. On average, small family farms, those with an annual gross cash farm income (GCFI) under $350,000, derived more than half of their total household income from off-farm income in 2019. By comparison, on average, very large farms, those with a GCFI of $5 million or more, earned 7 percent of their total income from off-farm sources that year. However, those are averages, and some households operating small farms rely primarily on farm income, while some households operating larger farms rely on income from off-farm sources.

Suggested Citation

  • Giri, Anil K. & Subedi, Dipak & Todd, Jessica E. & Litkowski, Carrie & Whitt, Christine, 2021. "Off-Farm Income a Major Component of Total Income for Most Farm Households in 2019," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, vol. 2021(09), September.
    • Handle: RePEc:ags:uersaw:313519
    DOI: 10.22004/ag.econ.313519
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    Cited by:

    1. Giri, Anil K. & Subedi, Dipak & Regmi, Hari & Ghimire, Monika, 2023. "U.S. farm households’ participation in lending and financial markets," 2023 Annual Meeting, July 23-25, Washington D.C. 335598, Agricultural and Applied Economics Association.
    2. Aparna Katre & Teresa Bertossi & Abigail Clarke-Sather & Mary Parsatoon, 2022. "Agroecological Transition: A Territorial Examination of the Simultaneity of Limited Farmer Livelihoods and Food Insecurity," Sustainability, MDPI, vol. 14(6), pages 1-26, March.

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