GITNUX REPORT 2024

2020 Data Reveals Variability: Average Farm Income Per Acre

Exploring the vast landscape of farm income: from $27 to $100,000 per acre, what drives success?

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

Corn farms in Iowa averaged $787 per acre in net income in 2021

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Wheat farms in Kansas averaged $133 per acre in net income in 2020

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Soybean farms in Illinois averaged $573 per acre in net income in 2021

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Cotton farms in Texas averaged $225 per acre in net income in 2019

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Rice farms in Arkansas averaged $442 per acre in net income in 2019

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Potato farms in Idaho averaged $1,742 per acre in net income in 2020

Statistic 7

Peanut farms in Georgia averaged $486 per acre in net income in 2020

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Tobacco farms in North Carolina averaged $1,872 per acre in net income in 2020

Statistic 9

Sugar beet farms in Minnesota averaged $631 per acre in net income in 2020

Statistic 10

The average farm income per acre for farms with agritourism activities was 80% higher than farms without in 2017

Statistic 11

The average farm income per acre for farms with direct-to-consumer sales was 62% higher than farms without in 2017

Statistic 12

The average farm income per acre for farms with value-added products was 51% higher than farms without in 2017

Statistic 13

The average farm income per acre for small farms (less than 50 acres) was $1,132 in 2017

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Large farms (over 2,000 acres) averaged $343 per acre in net income in 2017

Statistic 15

The average farm income per acre for dairy farms was $1,058 in 2020

Statistic 16

Beef cattle ranches averaged $27 per acre in net income in 2020

Statistic 17

Hog farms averaged $1,315 per acre in net income in 2020

Statistic 18

The average farm income per acre in the United States was $212 in 2020

Statistic 19

The average farm income per acre for organic farms was 35% higher than conventional farms in 2016

Statistic 20

The average farm income per acre in the Midwest region was $189 in 2020

Statistic 21

The average farm income per acre in the Northeast region was $318 in 2020

Statistic 22

The average farm income per acre in the Southeast region was $245 in 2020

Statistic 23

The average farm income per acre in the West region was $261 in 2020

Statistic 24

California almond orchards generated an average of $1,431 per acre in 2019

Statistic 25

The average farm income per acre for vegetable farms was $3,675 in 2017

Statistic 26

The average farm income per acre for fruit orchards was $2,731 in 2017

Statistic 27

Grape vineyards in California averaged $2,823 per acre in net income in 2019

Statistic 28

Strawberry farms in Florida averaged $7,514 per acre in net income in 2019

Statistic 29

Blueberry farms in Michigan averaged $3,241 per acre in net income in 2019

Statistic 30

Cranberry bogs in Massachusetts averaged $5,824 per acre in net income in 2019

Statistic 31

Pecan orchards in Georgia averaged $1,253 per acre in net income in 2020

Statistic 32

Lettuce farms in Arizona averaged $2,817 per acre in net income in 2019

Statistic 33

Cherry orchards in Washington averaged $4,321 per acre in net income in 2019

Statistic 34

Avocado farms in California averaged $3,642 per acre in net income in 2020

Statistic 35

Maple syrup producers in Vermont averaged $1,726 per acre in net income in 2019

Statistic 36

Hop farms in Oregon averaged $3,512 per acre in net income in 2020

Statistic 37

Lavender farms averaged $12,531 per acre in net income in 2019

Statistic 38

Saffron farms averaged $21,000 per acre in net income in 2020

Statistic 39

Christmas tree farms averaged $2,837 per acre in net income in 2019

Statistic 40

Ginseng farms averaged $40,000 per acre in net income in 2020

Statistic 41

Truffle orchards averaged $30,000 per acre in net income in 2019

Statistic 42

Wasabi farms averaged $70,000 per acre in net income in 2019

Statistic 43

Vanilla farms averaged $25,000 per acre in net income in 2020

Statistic 44

Microgreens farms averaged $100,000 per acre in net income in 2020

Statistic 45

Bamboo farms averaged $30,000 per acre in net income in 2019

Statistic 46

Mushroom farms averaged $60,000 per acre in net income in 2020

Statistic 47

The average farm income per acre for farms using cover crops was 22% higher than non-users in 2019

Statistic 48

The average farm income per acre for farms practicing no-till was 16% higher than conventional tillage farms in 2018

Statistic 49

The average farm income per acre for farms practicing rotational grazing was 19% higher than continuous grazing farms in 2018

Statistic 50

The average farm income per acre for farms using integrated pest management was 14% higher than farms using conventional pest control in 2017

Statistic 51

The average farm income per acre for farms using conservation tillage was 11% higher than conventional tillage farms in 2018

Statistic 52

The average farm income per acre for farms practicing agroforestry was 33% higher than traditional farms in 2019

Statistic 53

The average farm income per acre for farms using biochar soil amendments was 17% higher than farms not using biochar in 2018

Statistic 54

The average farm income per acre for farms practicing permaculture was 28% higher than conventional farms in 2019

Statistic 55

The average farm income per acre for farms using precision agriculture was 18% higher than non-adopters in 2018

Statistic 56

The average farm income per acre for farms with renewable energy systems was 31% higher than farms without in 2017

Statistic 57

The average farm income per acre for farms using drip irrigation was 28% higher than farms using flood irrigation in 2018

Statistic 58

The average farm income per acre for farms with agrivoltaic systems (solar panels + crops) was 70% higher than traditional farms in 2020

Statistic 59

The average farm income per acre for farms using precision livestock farming was 25% higher than traditional livestock farms in 2019

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The average farm income per acre for farms with on-site renewable energy generation was 23% higher than farms without in 2019

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The average farm income per acre for farms using precision fertilizer application was 20% higher than farms using traditional methods in 2018

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The average farm income per acre for farms using vertical farming techniques was 215% higher than traditional farms in 2020

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The average farm income per acre for farms using drone technology was 22% higher than farms not using drones in 2019

Statistic 64

The average farm income per acre for farms using hydroponics was 68% higher than soil-based farms in 2020

Statistic 65

The average farm income per acre for farms using aquaponics was 53% higher than traditional farms in 2019

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Summary

  • The average farm income per acre in the United States was $212 in 2020
  • Corn farms in Iowa averaged $787 per acre in net income in 2021
  • California almond orchards generated an average of $1,431 per acre in 2019
  • The average farm income per acre for organic farms was 35% higher than conventional farms in 2016
  • Wheat farms in Kansas averaged $133 per acre in net income in 2020
  • The average farm income per acre for small farms (less than 50 acres) was $1,132 in 2017
  • Large farms (over 2,000 acres) averaged $343 per acre in net income in 2017
  • Soybean farms in Illinois averaged $573 per acre in net income in 2021
  • The average farm income per acre for dairy farms was $1,058 in 2020
  • Cotton farms in Texas averaged $225 per acre in net income in 2019
  • The average farm income per acre for vegetable farms was $3,675 in 2017
  • Beef cattle ranches averaged $27 per acre in net income in 2020
  • The average farm income per acre in the Midwest region was $189 in 2020
  • Rice farms in Arkansas averaged $442 per acre in net income in 2019
  • The average farm income per acre for fruit orchards was $2,731 in 2017

Move over, Monopoly – weve got some real estate numbers thatll make you want to trade in Park Place for a potato farm! Did you know that while wheat farms in Kansas may be having a crumby year at $133 per acre, mushroom farms are on cloud nine raking in $60,000 per acre in 2020? Whether youre considering planting avocados in California or diving into the lavender fields of France, the average farm income per acre varies as much as Kanye’s fashion choices. From the fruitful vineyards of Napa to the humble hog farms of Iowa, lets break down the dollars and sense of farming diversity!

Crop-Specific Income

  • Corn farms in Iowa averaged $787 per acre in net income in 2021
  • Wheat farms in Kansas averaged $133 per acre in net income in 2020
  • Soybean farms in Illinois averaged $573 per acre in net income in 2021
  • Cotton farms in Texas averaged $225 per acre in net income in 2019
  • Rice farms in Arkansas averaged $442 per acre in net income in 2019
  • Potato farms in Idaho averaged $1,742 per acre in net income in 2020
  • Peanut farms in Georgia averaged $486 per acre in net income in 2020
  • Tobacco farms in North Carolina averaged $1,872 per acre in net income in 2020
  • Sugar beet farms in Minnesota averaged $631 per acre in net income in 2020

Interpretation

In the complex world of agriculture, where beans aren't always magic and potatoes aren't always gold, the tale of Average Farm Income Per Acre reads like a diverse menu at a high-stakes restaurant. From the humble peanuts in Georgia holding their ground at $486 per acre to the aristocratic tobacco fields in North Carolina boasting a princely $1,872 per acre, each crop seems to have its own financial personality. Like a skilled chef balancing flavors in a delicate dish, farmers across America navigate this intricate landscape of economic yields, where the corn in Iowa and the wheat in Kansas may not always be the cash cows, but the spuds in Idaho reign supreme as the golden potatoes of profitability, proving that in the fertile fields of finance, every crop has its own story to tell.

Diversification Impact

  • The average farm income per acre for farms with agritourism activities was 80% higher than farms without in 2017
  • The average farm income per acre for farms with direct-to-consumer sales was 62% higher than farms without in 2017
  • The average farm income per acre for farms with value-added products was 51% higher than farms without in 2017

Interpretation

These statistics clearly show that in the realm of farming, it's not just about what you sow, but also about how you show it off and package it up. Farms engaging in agritourism, direct-to-consumer sales, and value-added products are reaping the benefits of diversification and innovation, leaving traditional farms in their dust - or should we say, in their organic, locally sourced, handcrafted artisanal dust? It seems like in the modern agricultural landscape, a dash of charm, a sprinkle of marketing savvy, and a dollop of creativity are proving to be the winning recipe for success.

Farm Size Impact

  • The average farm income per acre for small farms (less than 50 acres) was $1,132 in 2017
  • Large farms (over 2,000 acres) averaged $343 per acre in net income in 2017

Interpretation

These statistics on average farm income per acre paint a stark picture of the agricultural landscape, where size truly does seem to matter. As the numbers suggest, small farms are defying the odds, earning $1,132 per acre and proving that good things do come in small packages. On the other hand, large farms may need to take a page out of the small farmers' playbook, as their average net income of $343 per acre in 2017 shows that bigger might not always be better when it comes to profitability. Perhaps it's time for the big guys to learn a thing or two from their smaller counterparts and cultivate some of that micro-farm magic.

Livestock Income

  • The average farm income per acre for dairy farms was $1,058 in 2020
  • Beef cattle ranches averaged $27 per acre in net income in 2020
  • Hog farms averaged $1,315 per acre in net income in 2020

Interpretation

In the world of agriculture, where dollars and cents are as important as seeds and soil, the average farm income per acre figures for 2020 paint a colorful picture indeed. It's a tale as old as time - the dairy farms, with their rich and creamy products, raking in a respectable $1,058 per acre, while the beef cattle ranches, perhaps feeling a bit chewed up, managed to eke out a modest $27 per acre. Meanwhile, the hog farms strutted their stuff, hogging the spotlight with an impressive $1,315 per acre. It goes to show that in the sprawling landscape of farming, there's no one-size-fits-all approach to success - sometimes you're rolling in the hay, sometimes you're just trying to stay afloat, but in the end, it's all part of the same barnyard dance.

National Averages

  • The average farm income per acre in the United States was $212 in 2020

Interpretation

In a country where avocado toast costs more than an acre of farmland, the average farm income per acre of $212 in 2020 may seem like pocket change. While this figure may not shout prosperity from the barn tops, it serves as a humbling reminder of the hard work and dedication that goes into cultivating our food supply. In a world where value is often measured in dollars and cents, perhaps the true richness lies in the nurturing hands that sow the seeds of sustenance.

Organic vs Conventional

  • The average farm income per acre for organic farms was 35% higher than conventional farms in 2016

Interpretation

In a world where every penny counts, the numbers don't lie – organic farms are like the high rollers of the agricultural casino, raking in a 35% higher average income per acre than their conventional cousins in 2016. It seems that going green not only helps the planet but also lines the pockets with some extra green. So, next time you're faced with the age-old dilemma of organic versus conventional farming, maybe it's worth thinking beyond just the veggies and considering the bottom line too.

Regional Variations

  • The average farm income per acre in the Midwest region was $189 in 2020
  • The average farm income per acre in the Northeast region was $318 in 2020
  • The average farm income per acre in the Southeast region was $245 in 2020
  • The average farm income per acre in the West region was $261 in 2020

Interpretation

It seems that in the agricultural landscape of 2020, the Midwest is serving up farm income like a bargain bin discount, offering up a modest $189 per acre. Meanwhile, the Northeast is strutting around like the haute couture of the farming world, flaunting a lavish $318 per acre. The Southeast and West regions fall somewhere in between, with incomes of $245 and $261 per acre respectively. It's a veritable fashion show of farm incomes, with each region sporting its own distinct style and flair.

Specialty Crop Income

  • California almond orchards generated an average of $1,431 per acre in 2019
  • The average farm income per acre for vegetable farms was $3,675 in 2017
  • The average farm income per acre for fruit orchards was $2,731 in 2017
  • Grape vineyards in California averaged $2,823 per acre in net income in 2019
  • Strawberry farms in Florida averaged $7,514 per acre in net income in 2019
  • Blueberry farms in Michigan averaged $3,241 per acre in net income in 2019
  • Cranberry bogs in Massachusetts averaged $5,824 per acre in net income in 2019
  • Pecan orchards in Georgia averaged $1,253 per acre in net income in 2020
  • Lettuce farms in Arizona averaged $2,817 per acre in net income in 2019
  • Cherry orchards in Washington averaged $4,321 per acre in net income in 2019
  • Avocado farms in California averaged $3,642 per acre in net income in 2020
  • Maple syrup producers in Vermont averaged $1,726 per acre in net income in 2019
  • Hop farms in Oregon averaged $3,512 per acre in net income in 2020
  • Lavender farms averaged $12,531 per acre in net income in 2019
  • Saffron farms averaged $21,000 per acre in net income in 2020
  • Christmas tree farms averaged $2,837 per acre in net income in 2019
  • Ginseng farms averaged $40,000 per acre in net income in 2020
  • Truffle orchards averaged $30,000 per acre in net income in 2019
  • Wasabi farms averaged $70,000 per acre in net income in 2019
  • Vanilla farms averaged $25,000 per acre in net income in 2020
  • Microgreens farms averaged $100,000 per acre in net income in 2020
  • Bamboo farms averaged $30,000 per acre in net income in 2019
  • Mushroom farms averaged $60,000 per acre in net income in 2020

Interpretation

In the world of agriculture, it seems the old saying holds true: different strokes for different folks—and different crops for different profits. While California almond orchards may be bringing in a respectable $1,431 per acre, the real stars of the show lie elsewhere. Saffron farmers, delicately plucking threads worth their weight in gold, can rejoice at a staggering $21,000 per acre in 2020, while those tending to ginseng are looking at a cool $40,000. Meanwhile, microgreens farmers might just be rolling in the green with an impressive $100,000 per acre. So, as farmers across the country till the land, it's clear that the real magic doesn't just lie in the crops themselves but in the value they bring to the table—quite literally.

Sustainable Practices

  • The average farm income per acre for farms using cover crops was 22% higher than non-users in 2019
  • The average farm income per acre for farms practicing no-till was 16% higher than conventional tillage farms in 2018
  • The average farm income per acre for farms practicing rotational grazing was 19% higher than continuous grazing farms in 2018
  • The average farm income per acre for farms using integrated pest management was 14% higher than farms using conventional pest control in 2017
  • The average farm income per acre for farms using conservation tillage was 11% higher than conventional tillage farms in 2018
  • The average farm income per acre for farms practicing agroforestry was 33% higher than traditional farms in 2019
  • The average farm income per acre for farms using biochar soil amendments was 17% higher than farms not using biochar in 2018
  • The average farm income per acre for farms practicing permaculture was 28% higher than conventional farms in 2019

Interpretation

In an era where farming is both an art and a science, the numbers speak for themselves: innovation pays the bills. Cover crops, no-till, rotational grazing, integrated pest management, conservation tillage, agroforestry, biochar soil amendments, permaculture – these aren't just buzzwords; they're the keys to a thriving agricultural economy. So, for those still stuck in the ways of yore, perhaps it's time to embrace change and watch your profits soar. After all, in the world of farming, the only constant is evolution – and the dollars don't lie.

Technology Impact

  • The average farm income per acre for farms using precision agriculture was 18% higher than non-adopters in 2018
  • The average farm income per acre for farms with renewable energy systems was 31% higher than farms without in 2017
  • The average farm income per acre for farms using drip irrigation was 28% higher than farms using flood irrigation in 2018
  • The average farm income per acre for farms with agrivoltaic systems (solar panels + crops) was 70% higher than traditional farms in 2020
  • The average farm income per acre for farms using precision livestock farming was 25% higher than traditional livestock farms in 2019
  • The average farm income per acre for farms with on-site renewable energy generation was 23% higher than farms without in 2019
  • The average farm income per acre for farms using precision fertilizer application was 20% higher than farms using traditional methods in 2018
  • The average farm income per acre for farms using vertical farming techniques was 215% higher than traditional farms in 2020
  • The average farm income per acre for farms using drone technology was 22% higher than farms not using drones in 2019
  • The average farm income per acre for farms using hydroponics was 68% higher than soil-based farms in 2020
  • The average farm income per acre for farms using aquaponics was 53% higher than traditional farms in 2019

Interpretation

In the ever-evolving landscape of modern agriculture, the data speaks volumes: innovation isn't just a buzzword, it's a game-changer. From precision agriculture to agrivoltaic systems, from drip irrigation to vertical farming, the numbers don't lie. Those who embrace technological advancements and sustainable practices are reaping the rewards, quite literally. In a world where every inch of land counts, it's not just about working harder but smarter. So, to all the traditional farmers out there, the message is clear: adapt or be left behind in the dust of those who dare to innovate.

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