Photo by Sally Y. Hart

While the farm economy has experienced a downturn in recent years, a recent study shows commercial farm net income averaged $187,000 in 2015. David Peters, associate professor and extension rural sociologist with Iowa State University, released the study related to farm income and levels of farm debt since the peak in 2012. That $187,000 was a drop from the high in 2012 of $381,344. The study also shows that farms where the operator’s primary occupation is farming averaged an income of $34,000 while residence farms where the operator’s primary job is not farming had an income of $17,000. Peters shows that growing debt is becoming a concern for commercial farms between 800-1,000 acres. From 2012 to 2015, the debt utilization rate rose from 35% to 73%. To see the full study click here.