Loan Officers Salary
Loan Officers in Iowa make a median of $83,670 a year, or about $40.23 an hour. The range runs from $52K at the entry level to $138K for experienced workers. Cost of living is below average (RPP 88.86), which stretches that salary to about $94,159 in buying power. Rent on a 2-bedroom averages $1,064/month, or 20.1% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Iowa. Jump to a metro for precise data:
So what does $84K get you in Iowa?
About loan officers
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What this looks like in Iowa
Loan officers pay in Iowa tracks closely to the national median, $84K locally vs. $77K nationwide, a 9% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,064/month, 20.3% of take-home, well inside the 30% guideline. Regional Price Parity sits at 88.86 (national = 100), meaning everyday costs run about 11% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Iowa
Entry-level loan officers (10th percentile) start around $52K. Mid-career wages sit at $84K. Top earners bring in $138K or more, a $86K spread from bottom to top.
Loan Officers salary by metro in Iowa
8 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Des Moines-West Des Moines | $101K | +21% | 650 |
| Iowa City | $99K | +18% | 120 |
| Cedar Rapids | $86K | +3% | 190 |
| Ames | $84K | +1% | 70 |
| Sioux City | $82K | -2% | 140 |
| Dubuque | $76K | -9% | 110 |
| Davenport-Moline-Rock Island | $75K | -10% | 350 |
| Waterloo-Cedar Falls | $73K | -13% | 190 |
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Iowa numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Iowa?
Yes — at the median salary of $84K, rent takes 20.3% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,064/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in Iowa?
The 10th-percentile wage — what new loan officers typically earn — is $52K/year. Take-home on that works out to about $3,101/month. At HUD’s $1,064/month FMR, rent would take 34% 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 Iowa?
Pay here is roughly in line with the national average — $84K locally vs. $77K nationally, a 9% difference.
How does Iowa compare to the national average for loan officers?
Iowa pays $84K median vs. the U.S. average of $77K — that’s +9%. After adjusting for local cost of living (RPP 88.86), the purchasing-power equivalent is $94K — still ahead of the national median.
How much do loan officers make in Iowa?
The median is $83,670 a year, that works out to about $40 an hour. But the range is wide: entry-level workers start around $51,690, and experienced loan officers can clear $138,150. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $84K enough to live in Iowa?
On that salary, you'd take home roughly $5,242/month after taxes. A 2-bedroom here rents for about $1,064/month, which eats 20.3% 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 Iowa?
Iowa has a Regional Price Parity of 88.86 (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 $94,159 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.