Water harvesting technologies capture surface water runoff and recycle it for productive use. Despite the long history of water harvesting and the renewed interest in many places in the world, the technology has not been widely adopted in the United States, in part because of a lack of understanding of its economic benefits. We developed a simulation model for the economic evaluation of water harvesting systems that combines agronomic, engineering, and economic factors and daily meteorological data. The simulation model was used to investigate the economic feasibility of using a water-harvesting, supplemental irrigation system for grain sorghum production over a 44-year period at two locations in Texas. Water harvesting combined with supplemental irrigation was most successful where the precipitation is the highest. However, the net benefits were extremely variable from year to year. The modeled technique could not take advantage of the potential additional water in the wet years and did not harvest sufficient water in dry years to make water harvesting more economically attractive than conventional dryland farming. This does not mean that runoff farming cannot be of economic benefit, depending on local conditions. Widespread adoption of the technology is constrained by the limited profit potential the variability of the profits, and the knowledge required to use the technology successfully. The simulation model was a useful and simple tool for dealing with the complexity of the issues.