Although trees in the agroforestry system play diverse roles in meeting the food, fodder, wood, and energy requirements of the agrarian community, their multifunctional contribution often remains understudied, especially while assessing the socio-economic status (SES) of farmers. Therefore, we conceptualized, developed, and standardized an instrument to appraise the SES of the farmers who practice agroforestry in semi-arid and sub-humid regions of India. We also determined the consistent performance of the scale by testing the reliability using the test–retest method. We found that the validity of the scale was accepted with a high correlation, confirming the validity and reliability of the new scale. We also prepared certain norms to identify different socioeconomic levels of agroforestry farmers. The scale used 9 major, 14 moderate, and 115 relevant minor indicators to address the dynamism of the SES and the diversification of farming systems. The proposed scale was specially designed and elastic in nature so that it has a wide scope regarding local applicability and utility, such as in multi-farming systems. Hence, this scale might be considered for measuring the SES of farmers who practice agroforestry at cross-regional and national levels.