Finance · 25 Cities Ranked

Highest Paying Cities for Loan Officer (2024)

The median Loan Officer salary is $102,540 in New York, NY, the highest-paying city for this role. After adjusting for cost of living, Minneapolis, MN offers the best purchasing power at $86,535 adjusted.

$77,238

National Median

$102,540

Highest City

$53,700

Lowest City

Cities Ranked

Ranked by Median Salary

Rank	City	Median	Range (10th–90th)	COL Index	COL-Adjusted	Jobs
1	New York, NY	$102,540	$49,690 – $216,810	187.2	$54,776	11,250
2	Boston, MA	$94,850	$60,750 – $180,680	152.1	$62,360	3,320
3	Washington, DC	$94,840	$47,260 – $206,190	152.8	$62,068	5,260
4	San Francisco, CA	$94,110	$43,870 – $199,680	179.6	$52,400	3,090
5	Minneapolis, MN	$91,900	$57,650 – $162,480	106.2	$86,535	4,360
6	San Jose, CA	$81,990	$42,180 – $164,630	195.8	$41,874	1,480
7	Denver, CO	$81,200	$35,310 – $159,310	112.8	$71,986	2,270
8	Charlotte, NC	$81,160	$39,410 – $158,080	96.7	$83,930	4,550
9	Los Angeles, CA	$80,340	$36,850 – $152,840	166	$48,398	11,110
10	Seattle, WA	$79,110	$35,130 – $152,920	149.4	$52,952	3,210
11	Atlanta, GA	$78,220	$44,210 – $149,370	99.2	$78,851	5,550
12	San Diego, CA	$77,780	$34,630 – $184,070	160.2	$48,552	2,000
13	Chicago, IL	$77,270	$47,940 – $152,530	107.3	$72,013	7,040
14	Philadelphia, PA	$76,910	$39,250 – $133,570	118.4	$64,958	4,830
15	Detroit, MI	$76,710	$29,340 – $139,630	95.1	$80,662	6,340
16	Portland, OR	$75,020	$40,420 – $161,010	130.1	$57,663	2,540
17	Miami, FL	$71,980	$27,740 – $148,250	123.1	$58,473	4,660
18	Tampa, FL	$71,780	$38,610 – $127,190	99.6	$72,068	4,000
19	Houston, TX	$69,010	$28,000 – $165,350	96.5	$71,513	3,820
20	Nashville, TN	$66,130	$39,260 – $131,010	100.3	$65,932	2,370
21	Raleigh, NC	$64,540	$44,500 – $129,890	99.8	$64,669	1,730
22	Austin, TX	$64,310	$23,190 – $128,620	103	$62,437	2,020
23	Dallas, TX	$63,800	$38,780 – $125,060	104.1	$61,287	10,060
24	Salt Lake City, UT	$61,760	$39,610 – $128,370	101.4	$60,907	3,490
25	Phoenix, AZ	$53,700	$29,990 – $108,630	100.7	$53,327	9,840

Ranked by Purchasing Power (COL-Adjusted)

Cost-of-living adjusted salaries show where your Loan Officer paycheck goes furthest. A lower COL index means your dollars stretch further.

Rank	City	COL-Adjusted	Raw Median	COL Index
1	Minneapolis, MN	$86,535	$91,900	106.2
2	Charlotte, NC	$83,930	$81,160	96.7
3	Detroit, MI	$80,662	$76,710	95.1
4	Atlanta, GA	$78,851	$78,220	99.2
5	Tampa, FL	$72,068	$71,780	99.6
6	Chicago, IL	$72,013	$77,270	107.3
7	Denver, CO	$71,986	$81,200	112.8
8	Houston, TX	$71,513	$69,010	96.5
9	Nashville, TN	$65,932	$66,130	100.3
10	Philadelphia, PA	$64,958	$76,910	118.4
11	Raleigh, NC	$64,669	$64,540	99.8
12	Austin, TX	$62,437	$64,310	103
13	Boston, MA	$62,360	$94,850	152.1
14	Washington, DC	$62,068	$94,840	152.8
15	Dallas, TX	$61,287	$63,800	104.1
16	Salt Lake City, UT	$60,907	$61,760	101.4
17	Miami, FL	$58,473	$71,980	123.1
18	Portland, OR	$57,663	$75,020	130.1
19	New York, NY	$54,776	$102,540	187.2
20	Phoenix, AZ	$53,327	$53,700	100.7
21	Seattle, WA	$52,952	$79,110	149.4
22	San Francisco, CA	$52,400	$94,110	179.6
23	San Diego, CA	$48,552	$77,780	160.2
24	Los Angeles, CA	$48,398	$80,340	166
25	San Jose, CA	$41,874	$81,990	195.8

Frequently Asked Questions

New York, NY pays the highest median Loan Officer salary at $102,540. However, after cost-of-living adjustment, Minneapolis, MN offers the most purchasing power at $86,535 adjusted.

The national median Loan Officer salary is $77,238 based on BLS data. Salaries range from $53,700 to $102,540 depending on city.

Not necessarily. A city with higher nominal pay may have a higher cost of living that offsets the salary difference. Compare the "COL-Adjusted" column in both tables above — cities with lower costs of living often offer better real purchasing power.