Cost of Living Increases

North Dakota State University found that farmers’ living expenses have increased by 12 percent since 2008. Today the average farmer is spending $57,404 on living expenses annually.
The extension service’s specialist, Andrew Swenson reported that farmers saw strong profits in 2007 and 2008 and had extra money to catch up on home repairs and vehicle purchases.
The data is from the Farm Business Management Education Program that follows 251 North Dakota Farm Families.
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