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Based on research into the theory of household assets and the welfare of farmers, the Analytic Hierarchy Process (AHP)-entropy weight method and cloud model were used to study the welfare level of land-lost farmers’ households under the different livelihood assets of Taohuayi Village, Taohuasan Village and Taohuawu Village in Taohua Town, Nanchang City. The results show that (1) The comprehensive welfare level of asset-deficient farmers’ households is between the “bad” and “medium” levels and is closer to the “bad” level. The comprehensive welfare level of asset-balanced farmers’ households is between “general” and “good” and is closer to the “good” level. (2) Judging from the various functional activity indicators that affect the welfare of the land-lost farmers, after the asset-deficient farmers’ households lose their land, the welfare level of the family’s financial situation, social security, living environment, mental status, development opportunities, and political participation are generally at low to medium-low levels, and only living conditions are at medium-to-high levels. (3) The welfare level of the living environment of the asset-balanced farmers’ households is at a moderately low level, and the welfare of the remaining functional activities is at a medium to a medium-high level. We then propose corresponding policy recommendations. After losing land, it is necessary to implement a differentiated circulation guarantee and support policies to achieve targeted compensation and support for the land-lost farmers’ households to improve the welfare level of land-lost farmers’ households under different living asset allocation.
