Loan Officers Salary in Des Moines-West Des Moines, IA
Loan Officers in Des Moines-West Des Moines, IA make a median of $97,000 a year, or about $46.64 an hour. The range runs from $52K at the entry level to $140K for experienced workers. Cost of living is below average (RPP 91.7), which stretches that salary to about $105,780 in buying power. Rent on a 2-bedroom averages $1,318/month, or 21.5% of estimated take-home pay.
AffordMap analysis of BLS Occupational Employment and Wage Statistics (latest release, May 2024)
So what does $97K get you in Des Moines-West Des Moines?
About loan officers
Compensation breakdown
Annual earnings by percentile, Des Moines-West Des Moines, IA
Entry-level loan officers (10th percentile) start around $52K. Mid-career wages sit at $97K.Top earners bring in $140K or more - a $89K spread from bottom to top.
Loan Officers pay across states
Median income ranked highest to lowest, compared to the national figure
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $102K | +38% | 420 |
| New York | $99K | +33% | 11,850 |
| New Jersey | $95K | +28% | 5,690 |
| Massachusetts | $93K | +26% | 4,310 |
| Vermont | $86K | +17% | 440 |
| Minnesota | $84K | +14% | 6,950 |
| North Dakota | $83K | +12% | 1,370 |
| Kansas | $83K | +11% | 3,950 |
| Delaware | $81K | +9% | 1,480 |
| Iowa | $80K | +8% | 3,350 |
| Virginia | $80K | +7% | 9,170 |
| California | $80K | +7% | 27,420 |
| Wisconsin | $79K | +7% | 5,020 |
| New Hampshire | $79K | +6% | 1,190 |
| South Dakota | $79K | +6% | 1,930 |
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Des Moines-West Des Moines numbers change.
Related careers in Business & Finance
Frequently asked questions
How much do loan officers make in Des Moines-West Des Moines, IA?
The median is $97,000 a year - that works out to about $46.64 an hour. The range is wide: entry-level workers start around $51,520, and experienced loan officers can clear $140,410. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $97K enough to live in Des Moines-West Des Moines?
On that salary, you'd take home roughly $5,960/month after taxes. A 2-bedroom here rents for about $1,318/month (HUD Fair Market Rent), which eats 22.1% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a loan officers salary go in Des Moines-West Des Moines?
Des Moines-West Des Moines has a Regional Price Parity of 91.7 (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 $105,780 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.