Loan Officers Salary
Loan Officers in St. Cloud, MN make a median of $92,570 a year, or about $44.51 an hour. The range runs from $56K at the entry level to $160K for experienced workers. Cost of living is below average (RPP 87.63), which stretches that salary to about $105,637 in buying power. Rent on a 2-bedroom averages $1,206/month, or 20.7% of estimated take-home pay.
So what does $93K get you in St. Cloud?
Groceries, utilities, transportation, and healthcare scaled from national averages by St. Cloud’s Regional Price Parity (87.63). 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 St. Cloud
St. Cloud sits well above the national pay line for loan officers, local pay runs about 21% higher than the U.S. median of $77K. Housing is manageable: a 2-bedroom at the HUD median costs $1,206/month, 21.1% of take-home, well inside the 30% guideline. Regional Price Parity sits at 87.63 (national = 100), meaning everyday costs run about 12% cheaper here. Your dollar stretches further than the headline salary suggests. Combined with manageable housing costs, St. Cloud offers a genuinely strong financial position for loan officerss at the median.
Compared to nearby metros
Median pay for loan officers in metros near St. Cloud, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Minneapolis-St. Paul-Bloomington | $102K | $98K |
| Duluth | $73K | $83K |
| Rochester | $98K | $108K |
| Mankato | $95K | $104K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, St. Cloud, MN
Entry-level loan officers (10th percentile) start around $56K. Mid-career wages sit at $93K. Top earners bring in $160K or more, a $104K 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 St. Cloud?
Yes — at the median salary of $93K, rent takes 21.1% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,206/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in St. Cloud?
The 10th-percentile wage — what new loan officers typically earn — is $56K/year. Take-home on that works out to about $3,344/month. At HUD’s $1,206/month FMR, rent would take 36% 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 St. Cloud?
Local pay is 21% above the national median — $93K here vs. $77K nationally.
How does St. Cloud compare to the national average for loan officers?
St. Cloud pays $93K median vs. the U.S. average of $77K — that’s +21%. After adjusting for local cost of living (RPP 87.63), the purchasing-power equivalent is $106K — still ahead of the national median.
How much do loan officers make in St. Cloud, MN?
The median is $92,570 a year, that works out to about $45 an hour. But the range is wide: entry-level workers start around $55,730, and experienced loan officers can clear $160,200. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $93K enough to live in St. Cloud?
On that salary, you'd take home roughly $5,720/month after taxes. A 2-bedroom here rents for about $1,206/month, which eats 21.1% 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 St. Cloud?
St. Cloud has a Regional Price Parity of 87.63 (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 $105,637 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.