Loan Officers Salary
Loan Officers in Rochester, NY make a median of $82,280 a year, or about $39.56 an hour. The range runs from $52K at the entry level to $215K for experienced workers. Adjusted for local prices (RPP 97.03), that's roughly $84,799 in purchasing power. A 2-bedroom apartment runs $1,573/month, about 30.4% of take-home, which is tight.
So what does $82K get you in Rochester?
Groceries, utilities, transportation, and healthcare scaled from national averages by Rochester’s Regional Price Parity (97.03). 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 Rochester
Loan officers pay in Rochester tracks closely to the national median, $82K locally vs. $77K nationwide, a 7% difference. Rent runs $1,573/month for a 2-bedroom (HUD FMR), taking 30.3% of the median take-home. That's within the 30% rule, though not by much. Cost of living (RPP 97.03) is near the national average, so spending patterns here track the typical American budget fairly closely. Pay and costs are both near average, leaving limited margin for savings at the median wage.
Compared to nearby metros
Median pay for loan officers in metros near Rochester, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| New York-Newark-Jersey City | $102K | $90K |
| Buffalo-Cheektowaga | $76K | $79K |
| Albany-Schenectady-Troy | $80K | $80K |
| Syracuse | $79K | $82K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Rochester, NY
Entry-level loan officers (10th percentile) start around $52K. Mid-career wages sit at $82K. Top earners bring in $215K or more, a $163K 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
BLS updates this data quarterly. We'll email you when Rochester numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Rochester?
It’s a stretch — at the median salary of $82K, rent takes 30.3% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,573/month. The 30% guideline puts the comfortable ceiling at roughly $1,600/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in Rochester?
The 10th-percentile wage — what new loan officers typically earn — is $52K/year. Take-home on that works out to about $3,131/month. At HUD’s $1,573/month FMR, rent would take 50% 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 Rochester?
Pay here is roughly in line with the national average — $82K locally vs. $77K nationally, a 7% difference.
How does Rochester compare to the national average for loan officers?
Rochester pays $82K median vs. the U.S. average of $77K — that’s +7%. After adjusting for local cost of living (RPP 97.03), the purchasing-power equivalent is $85K — still ahead of the national median.
How much do loan officers make in Rochester, NY?
The median is $82,280 a year, that works out to about $40 an hour. But the range is wide: entry-level workers start around $52,180, and experienced loan officers can clear $215,160. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $82K enough to live in Rochester?
On that salary, you'd take home roughly $5,196/month after taxes. A 2-bedroom here rents for about $1,573/month, which eats 30.3% 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 Rochester?
Rochester has a Regional Price Parity of 97.03 (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 $84,799 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.