Loan Officers Salary
Loan Officers in Salem, OR make a median of $93,410 a year, or about $44.91 an hour. The range runs from $55K at the entry level to $179K for experienced workers. Adjusted for local prices (RPP 103.65), that's roughly $90,121 in purchasing power. Rent on a 2-bedroom averages $1,560/month, or 26.6% of estimated take-home pay.
So what does $93K get you in Salem?
Groceries, utilities, transportation, and healthcare scaled from national averages by Salem’s Regional Price Parity (103.65). 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 Salem
Salem sits well above the national pay line for loan officers, local pay runs about 22% higher than the U.S. median of $77K. Rent runs $1,560/month for a 2-bedroom (HUD FMR), taking 28.2% of the median take-home. That's within the 30% rule, though not by much. Cost of living (RPP 103.65) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compared to nearby metros
Median pay for loan officers in metros near Salem, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Portland-Vancouver-Hillsboro | $96K | $91K |
| Eugene-Springfield | $81K | $79K |
| Bend | $82K | $79K |
| Medford | $91K | $90K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Salem, OR
Entry-level loan officers (10th percentile) start around $55K. Mid-career wages sit at $93K. Top earners bring in $179K or more, a $125K 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 Salem numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Salem?
Yes — at the median salary of $93K, rent takes 28.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,560/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in Salem?
The 10th-percentile wage — what new loan officers typically earn — is $55K/year. Take-home on that works out to about $3,280/month. At HUD’s $1,560/month FMR, rent would take 48% 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 Salem?
Local pay is 22% above the national median — $93K here vs. $77K nationally.
How does Salem compare to the national average for loan officers?
Salem pays $93K median vs. the U.S. average of $77K — that’s +22%. After adjusting for local cost of living (RPP 103.65), the purchasing-power equivalent is $90K — still ahead of the national median.
How much do loan officers make in Salem, OR?
The median is $93,410 a year, that works out to about $45 an hour. But the range is wide: entry-level workers start around $54,670, and experienced loan officers can clear $179,320. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $93K enough to live in Salem?
On that salary, you'd take home roughly $5,538/month after taxes. A 2-bedroom here rents for about $1,560/month, which eats 28.2% 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 Salem?
Salem has a Regional Price Parity of 103.65 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median loan officers salary is worth about $90,121 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.