skip to Main Content

Farm and Family Living Expenses for 2002

About This Publication

In 2002 the total, noncapital, living expenses of 1,216 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $44,475–or $3,706 a month for each family (Table 1). This average was 2.9 percent higher than 2001 and 4.5 percent higher than in 2000. Another $4,380 was used to buy capital items such as the personal share of the family automobile, furniture, and household equipment. Thus, the grand total for living expenses averaged $48,855 for 2002 compared with $48,097 for 2001, or a $758 increase per family. The average amount spent per family for capital items was $505 less, while noncapital expenses increased $1,263 per family. The sample farms, which were mainly grain farms, were located primarily in central and northern Illinois.

Back To Top