Loan Officers Salary in Detroit, MI
2024 wage data from the Bureau of Labor Statistics
Salary Overview
Loan Officers is a above-average occupation in Detroit, MI, with a median annual salary of $76,710. Loan Officerss in Detroit, MI earn $2,530 more (3%) than the national median of $74,180. There is significant earning potential — top earners make 4.
Loan Officerss in Detroit, MI earn $2,530 more (3%) than the national median of $74,180.
With 6,340 Loan Officerss employed in Detroit, MI, there is a strong job market and likely good career opportunities.
Cost of Living Consideration
When evaluating this salary, factor in Detroit, MI's cost of living. Housing, transportation, and taxes vary significantly between cities and can impact how far your paycheck goes.
Salary Distribution
| Percentile | Annual Salary | Monthly |
|---|---|---|
| 10th Percentile | $29,340 | $2,445 |
| 25th Percentile | $49,940 | $4,162 |
| Median | $76,710 | $6,393 |
| 75th Percentile | $103,830 | $8,653 |
| 90th Percentile | $139,630 | $11,636 |
| Mean (Average) | $87,930 | $7,328 |
Loan Officers Salary in Other Cities
| Metro Area | Median Salary |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $102,540 |
| Boston-Cambridge-Nashua, MA-NH | $94,850 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $94,840 |
| San Francisco-Oakland-Berkeley, CA | $94,110 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $91,900 |
| San Jose-Sunnyvale-Santa Clara, CA | $81,990 |
| Denver-Aurora-Lakewood, CO | $81,200 |
| Charlotte-Concord-Gastonia, NC-SC | $81,160 |
| Los Angeles-Long Beach-Anaheim, CA | $80,340 |
| Kansas City, MO-KS | $79,690 |
Highest Paying Jobs in Detroit, MI
| Occupation | Median Salary |
|---|---|
| Family Medicine Physicians | $218,340 |
| Architectural and Engineering Managers | $167,890 |
| Computer and Information Systems Managers | $166,010 |
| Natural Sciences Managers | $151,390 |
| Financial Managers | $141,770 |
| Marketing Managers | $139,430 |
| Managers, All Other | $135,910 |
| Database Administrators | $129,940 |
| Computer Network Architects | $128,450 |
| Lawyers | $128,060 |
Related Data Insights
The cost of living in Detroit, MI is 0.3% above the national average (index: 100.3). See full cost breakdown →
After adjusting for local cost of living, the purchasing power of Detroit, MI salaries is equivalent to $82,347 in an average-cost US city.