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totaled approximately one-half million dollars. White farm families reported

almost 95 percent of the total and averaged about $1,700 compared with less

than $300 for the nonwhite families. Almost 45 percent of the farm households

reported no nonfarm property, while 17 households (6 percent) reported nonfarm

property exceeding a value of $10,000 (Table 53). Of the 203 households report-

ing nonfarm property, more than half reported less than $500. The 17 above-

mentioned farm households with nonfarm property in excess of $10,000 accounted

for two-thirds of the total nonfarm property reported by all farms,

 The distribution of farm households on the basis of family net worth

is shown in Table 54. As indicated by the foregoing discussion of farm assets

and nonfarm property, the net worth position of many of the survey farm fami-

lies is low, Approximately 44 percent of the survey farmers reported net

worth of less than $5,000. Among the nonwhite farm families, 81 percent were

below this level compared with 33 percent of the white farm families. In the

higher levels, almost 30 percent of the white farms reported net worth in

excess of $15,000 compared with less than 4 percent of the nonwhite farms. As

would be expected, family net worth increased with the economic level of the

farm. Among the residential and part-time farms, 12 percent reported net worth

in excess of $10,000 compared with 47 percent of the commercial farms,