May 19, 2006 - Most farms in the United States are family farms. This information was released this week in Structure and Finances of U.S. Farms: 2005 Family Farm Report published by the U.S. Department of Agriculture?s Economic Research Service.
In 2003, 98 percent of all U.S. farms were 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 the most farms but produce a modest share of the 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.
To read the report in its entirety, go to: www.ers.usda.gov/publications/EIB12/.