Real Estate Brokers Salary
Real Estate Brokers in Minnesota make a median of $39,850 a year, or about $19.16 an hour. The range runs from $36K at the entry level to $146K for experienced workers. Note: the mean (average) wage is $69K, significantly higher than the median. This typically reflects a mix of employment settings including academic and private practice positions. Cost of living is below average (RPP 92.6), which stretches that salary to about $43,035 in buying power. A 2-bedroom apartment runs $1,384/month, about 50.3% of take-home, which is tight.
Statewide average. Salary and cost of living vary significantly across Minnesota. Jump to a metro for precise data:
So what does $40K get you in Minnesota?
About real estate brokers
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What this looks like in Minnesota
Pay for real estate brokers in Minnesota runs about 46% below the U.S. median of $73K. The catch: housing math doesn't keep up. A 2-bedroom at the HUD median rents for $1,384/month, which is 50.8% of the median worker's take-home, past the 30% guideline most planners use. Regional Price Parity sits at 92.6 (national = 100), meaning everyday costs run about 7% cheaper here. Your dollar stretches further than the headline salary suggests. That combination, below-market pay with high housing costs, makes this a financially demanding market for real estate brokerss.
Compensation breakdown
Annual earnings by percentile, Minnesota
Entry-level real estate brokers (10th percentile) start around $36K. Mid-career wages sit at $40K. Top earners bring in $146K or more, a $110K spread from bottom to top.
Real Estate Brokers salary by metro in Minnesota
1 metro area with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Minneapolis-St. Paul-Bloomington | $62K | +55% | N/A |
Compare to other states
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BLS updates this data quarterly. We'll email you when Minnesota numbers change.
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Frequently asked questions
Can a real estate broker afford a 2BR apartment alone in Minnesota?
It’s a stretch — at the median salary of $40K, rent takes 50.8% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,384/month. The 30% guideline puts the comfortable ceiling at roughly $800/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for real estate brokers in Minnesota?
The 10th-percentile wage — what new real estate brokers typically earn — is $36K/year. Take-home on that works out to about $2,171/month. At HUD’s $1,384/month FMR, rent would take 64% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is real estate broker a high-paying job in Minnesota?
Local pay runs 46% below the national median — $40K here vs. $73K nationally. Cost of living is 7% below the national average, which narrows that gap in real purchasing power.
How does Minnesota compare to the national average for real estate brokers?
Minnesota pays $40K median vs. the U.S. average of $73K — that’s -46%. After adjusting for local cost of living (RPP 92.6), the purchasing-power equivalent is $43K — below the national median.
How much do real estate brokers make in Minnesota?
The median is $39,850 a year, that works out to about $19 an hour. But the range is wide: entry-level workers start around $36,190, and experienced real estate brokers can clear $146,130. The mean (average) is $69,350, reflecting that some workers earn substantially more. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $40K enough to live in Minnesota?
On that salary, you'd take home roughly $2,725/month after taxes. A 2-bedroom here rents for about $1,384/month, which eats 50.8% 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 real estate brokers salary go in Minnesota?
Minnesota has a Regional Price Parity of 92.6 (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 real estate brokers salary is worth about $43,035 in national-average purchasing power.
Where do real estate brokers 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.