Loan Officers Salary (2024) — Pay by Metro Area
Loan Officers earn a national median of $74,180 per year. Because pay tracks local labour markets, the same job ranges from $53,700 in the cheapest metro covered to $102,540 in the most expensive — a 91% gap for identical work. This page ranks 25 metro areas with released data.
Loan Officers pay by metro area
Ranked by median annual wage among the metro areas with published estimates for this occupation. Local cost of living is not applied — a lower median in a cheaper metro can still leave more in your pocket.
| Metro area | Hourly | Annual | Employment |
|---|---|---|---|
| Dallas, TX — TX | $30.67 | $63,800 | 10,060 |
| Phoenix, AZ — AZ | $25.82 | $53,700 | 9,840 |
| Detroit, MI — MI | $36.88 | $76,710 | 6,340 |
| Charlotte, NC — NC | $39.02 | $81,160 | 4,550 |
| Minneapolis, MN — MN | $44.18 | $91,900 | 4,360 |
| Tampa, FL — FL | $34.51 | $71,780 | 4,000 |
| St. Louis, MO — MO | $34.00 | $70,730 | 2,820 |
The gap between Dallas, TX ($63,800) and St. Louis, MO ($70,730) is -10% . For loan officers this mainly reflects industry mix and regional price levels rather than a difference in the work itself. The middle metro sits at $77,270, which is the better single number for a "typical" market than either extreme.
Frequently asked questions
How much do loan officers make in the United States?
The national median for this occupation is $74,180 per year, across all areas including non-metropolitan ones. Metro-level medians for this occupation range from $53,700 to $102,540, with a middle value of $77,270.
Which metro area pays loan officers the most?
Dallas, TX pays the most among the metros covered, at a median of $63,800, with about 10,060 people employed in the occupation.
Which metro area pays loan officers the least?
St. Louis, MO sits at the bottom of the range, with a median of $70,730.
Do loan officers earn more in large cities?
Usually, but not always. Large metros tend to show higher nominal pay because they concentrate high-wage industries and a higher cost of living. The spread above is nominal — it is not adjusted for local prices, so a lower median in a cheaper metro can still buy more.
About these figures
Source: BLS Occupational Employment and Wage Statistics (OEWS), 2024. The US figure on this page is an employment-weighted benchmark computed across the metro areas covered by this site, not the official national OEWS median, which BLS publishes separately. OEWS excludes self-employed workers and reports wages only, not benefits or total compensation.
See the methodology for how the benchmark and the metro ranking are derived.