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

by Robert Hoppe and David Banker

Economic Information Bulletin No. (EIB-12) 50 pp, May 2006

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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

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See the companion brochure, America's Diverse Family Farms: Structure and Finances.

Last updated: Wednesday, February 13, 2013

For more information contact: Robert Hoppe and David Banker

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