Loan Officers Salary
Loan Officers in Columbus, IN make a median of $59,040 a year, or about $28.39 an hour. The range runs from $38K at the entry level to $103K for experienced workers. Cost of living is below average (RPP 93), which stretches that salary to about $63,484 in buying power. A 2-bedroom apartment runs $1,415/month, about 35.8% of take-home, which is tight.
So what does $59K get you in Columbus?
Groceries, utilities, transportation, and healthcare scaled from national averages by Columbus’s Regional Price Parity (93). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About loan officers
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What this looks like in Columbus
Pay for loan officers in Columbus runs about 23% below the U.S. median of $77K. The catch: housing math doesn't keep up. A 2-bedroom at the HUD median rents for $1,415/month, which is 35.6% of the median worker's take-home, past the 30% guideline most planners use. Regional Price Parity sits at 93 (national = 100), meaning everyday costs run about 7% cheaper here. Your dollar stretches further than the headline salary suggests. That combination, below-market pay with high housing costs, makes this a financially demanding market for loan officerss.
Compared to nearby metros
Median pay for loan officers in metros near Columbus, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Indianapolis-Carmel-Greenwood | $75K | $78K |
| Fort Wayne | $63K | $68K |
| Evansville | $64K | $69K |
| South Bend-Mishawaka | $63K | $68K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Columbus, IN
Entry-level loan officers (10th percentile) start around $38K. Mid-career wages sit at $59K. Top earners bring in $103K or more, a $64K spread from bottom to top.
Loan Officers pay across states
Median income ranked highest to lowest, compared to the national figure
View Loan Officers salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| Massachusetts | $102K | +32% | 4,470 |
| Connecticut | $96K | +25% | 2,220 |
| New York | $96K | +25% | 10,840 |
| Minnesota | $95K | +24% | 6,430 |
| Colorado | $95K | +23% | 3,230 |
| Oregon | $94K | +23% | 4,220 |
| New Jersey | $93K | +21% | 6,200 |
| District of Columbia | $93K | +21% | 370 |
| Vermont | $89K | +16% | 350 |
| Kansas | $87K | +13% | 3,540 |
| North Dakota | $85K | +10% | 1,370 |
| Iowa | $84K | +9% | 2,840 |
| Delaware | $83K | +8% | 1,420 |
| Maine | $82K | +7% | 1,060 |
| California | $82K | +7% | 25,790 |
| New Hampshire | $81K | +5% | 1,120 |
| Washington | $80K | +4% | 6,040 |
| South Dakota | $80K | +4% | 1,820 |
| Nebraska | $80K | +4% | 2,710 |
| Wyoming | $80K | +4% | 740 |
| Illinois | $79K | +3% | 10,890 |
| Virginia | $78K | +2% | 8,790 |
| Wisconsin | $78K | +2% | 4,940 |
| Rhode Island | $77K | +1% | 1,290 |
| Ohio | $76K | -0% | 9,880 |
| North Carolina | $76K | -1% | 10,700 |
| Michigan | $74K | -3% | 11,340 |
| Missouri | $74K | -4% | 7,050 |
| Maryland | $74K | -4% | 3,850 |
| Oklahoma | $73K | -5% | 4,100 |
| Indiana | $73K | -5% | 4,790 |
| Alaska | $73K | -5% | 490 |
| Montana | $72K | -7% | 1,180 |
| Florida | $71K | -7% | 18,830 |
| Idaho | $71K | -7% | 2,030 |
| Arkansas | $70K | -8% | 2,610 |
| Pennsylvania | $69K | -10% | 8,140 |
| Georgia | $68K | -11% | 9,540 |
| Alabama | $67K | -13% | 5,050 |
| Texas | $66K | -13% | 21,200 |
| Nevada | $65K | -16% | 2,580 |
| Hawaii | $64K | -17% | 980 |
| South Carolina | $63K | -18% | 4,140 |
| Tennessee | $63K | -18% | 6,510 |
| New Mexico | $63K | -18% | 1,140 |
| Arizona | $62K | -19% | 10,020 |
| Kentucky | $62K | -19% | 3,940 |
| Louisiana | $61K | -20% | 2,810 |
| Mississippi | $60K | -21% | 3,450 |
| Utah | $59K | -22% | 3,990 |
| West Virginia | $58K | -25% | 1,290 |
Showing 1–10 of 51 (all 50 states + DC)
Track loan officers salary changes
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Columbus?
It’s a stretch — at the median salary of $59K, rent takes 35.6% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,415/month. The 30% guideline puts the comfortable ceiling at roughly $1,200/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in Columbus?
The 10th-percentile wage — what new loan officers typically earn — is $38K/year. Take-home on that works out to about $2,294/month. At HUD’s $1,415/month FMR, rent would take 62% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is loan officer a high-paying job in Columbus?
Local pay runs 23% below the national median — $59K here vs. $77K nationally. Cost of living is 7% below the national average, which narrows that gap in real purchasing power.
How does Columbus compare to the national average for loan officers?
Columbus pays $59K median vs. the U.S. average of $77K — that’s -23%. After adjusting for local cost of living (RPP 93), the purchasing-power equivalent is $63K — below the national median.
How much do loan officers make in Columbus, IN?
The median is $59,040 a year, that works out to about $28 an hour. But the range is wide: entry-level workers start around $38,240, and experienced loan officers can clear $102,720. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $59K enough to live in Columbus?
On that salary, you'd take home roughly $3,973/month after taxes. A 2-bedroom here rents for about $1,415/month, which eats 35.6% of your paycheck. That's above the 30% rule of thumb, housing will be a stretch at the median salary, though you can manage with roommates or a smaller place.
How far does a loan officers salary go in Columbus?
Columbus has a Regional Price Parity of 93 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median loan officers salary is worth about $63,484 in national-average purchasing power.
Where do loan officers get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.