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Abstract
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, although they are more likely to have more than one
operator. Very large family farms and nonfamily farms account for a small share of
farms but a large—and growing—share of farm sales. Small family farms account for
most of the farms in the United States 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, and small-farm households receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.