Best states for a Lender

Q: What is the best state for lenders?

The best state to be a lender is South Dakota based on lender salaries and job opportunities.

Q: What is the highest paying state for lenders?

The highest paying state for lenders is Arizona based on Zippia’s salary database.

Q: What is the worst state for lenders?

The worst state for lenders is Virginia, due to a combination of low salaries and few job opportunities.

Rank 1 - 10
11 - 20
21 - 30
31 - 40
41 - 51

Job opportunities vary from state to state, and business and financial careers are no different. Because we know how difficult it can be to know which states are the best when it comes to lender jobs, we decided to crunch some numbers to bring you the best states for lenders.In order to help you decide which state is the best for lenders, we ranked all 50 states and the District of Columbia from best to worst for lender jobs.

To do that, we looked at the most recent data we have available for the following criteria -- average annual wages, and availability of jobs for lenders.South Dakota is the best state, and Aberdeen is the city with the highest pay for lenders.

10 best states for lenders in 2025

1. South Dakota
Total Lender Jobs: 66
Average Annual Salary: $52,962
Lowest 10 Percent Earn: $40,000
Highest 10 Percent Earn: $68,000
Location Quotient:
1.55
Lender Jobs in South Dakota
2. Minnesota
Total Lender Jobs: 400
Average Annual Salary: $50,191
Lowest 10 Percent Earn: $38,000
Highest 10 Percent Earn: $64,000
Location Quotient:
1.51
Lender Jobs in Minnesota
3. Maine
Total Lender Jobs: 75
Average Annual Salary: $47,679
Lowest 10 Percent Earn: $33,000
Highest 10 Percent Earn: $68,000
Location Quotient:
1.42
Lender Jobs in Maine
4. Wyoming
Total Lender Jobs: 37
Average Annual Salary: $46,590
Lowest 10 Percent Earn: $35,000
Highest 10 Percent Earn: $60,000
Location Quotient:
1.55
Lender Jobs in Wyoming
5. Rhode Island
Total Lender Jobs: 66
Average Annual Salary: $44,996
Lowest 10 Percent Earn: $29,000
Highest 10 Percent Earn: $68,000
Location Quotient:
1.36
Lender Jobs in Rhode Island
6. Michigan
Total Lender Jobs: 369
Average Annual Salary: $45,365
Lowest 10 Percent Earn: $32,000
Highest 10 Percent Earn: $63,000
Location Quotient:
1.19
Lender Jobs in Michigan
7. Washington
Total Lender Jobs: 270
Average Annual Salary: $50,925
Lowest 10 Percent Earn: $40,000
Highest 10 Percent Earn: $64,000
Location Quotient:
0.93
Lender Jobs in Washington
8. North Dakota
Total Lender Jobs: 46
Average Annual Salary: $44,880
Lowest 10 Percent Earn: $35,000
Highest 10 Percent Earn: $56,000
Location Quotient:
1.24
Lender Jobs in North Dakota
9. New Mexico
Total Lender Jobs: 42
Average Annual Salary: $50,218
Lowest 10 Percent Earn: $36,000
Highest 10 Percent Earn: $68,000
Location Quotient:
0.54
Lender Jobs in New Mexico
10. Iowa
Total Lender Jobs: 133
Average Annual Salary: $46,758
Lowest 10 Percent Earn: $34,000
Highest 10 Percent Earn: $62,000
Location Quotient:
0.92
Lender Jobs in Iowa

Lender JobsNear Ashburn, VA

How Zippia determines the best states to be a lender

You can read about how the best state rankings are calculated here.

Detailed list of the best states for a lender

Rank	State	Average Salary	Lowest 10% Earn	Population	Job Count
1	South Dakota	$52,962	$40,000	869,666	66
2	Minnesota	$50,191	$38,000	5,576,606	400
3	Maine	$47,679	$33,000	1,335,907	75
4	Wyoming	$46,590	$35,000	579,315	37
5	Rhode Island	$44,996	$29,000	1,059,639	66
6	Michigan	$45,365	$32,000	9,962,311	369
7	Washington	$50,925	$40,000	7,405,743	270
8	North Dakota	$44,880	$35,000	755,393	46
9	New Mexico	$50,218	$36,000	2,088,070	42
10	Iowa	$46,758	$34,000	3,145,711	133
11	Hawaii	$52,208	$43,000	1,427,538	37
12	Wisconsin	$47,373	$35,000	5,795,483	154
13	Arkansas	$47,473	$34,000	3,004,279	72
14	Vermont	$44,958	$31,000	623,657	31
15	Nebraska	$46,968	$35,000	1,920,076	72
16	Illinois	$44,173	$32,000	12,802,023	536
17	Texas	$41,955	$29,000	28,304,596	940
18	Montana	$46,881	$37,000	1,050,493	38
19	Delaware	$43,489	$28,000	961,939	51
20	Maryland	$45,007	$29,000	6,052,177	225
21	Ohio	$39,208	$27,000	11,658,609	506
22	New York	$43,444	$28,000	19,849,399	533
23	Missouri	$43,117	$31,000	6,113,532	208
24	Massachusetts	$45,495	$30,000	6,859,819	210
25	Kansas	$39,693	$29,000	2,913,123	123
26	Florida	$39,531	$27,000	20,984,400	741
27	California	$43,334	$31,000	39,536,653	1,122
28	Oregon	$43,564	$33,000	4,142,776	135
29	Connecticut	$41,510	$27,000	3,588,184	114
30	Idaho	$37,730	$29,000	1,716,943	68
31	New Hampshire	$41,178	$27,000	1,342,795	44
32	Kentucky	$38,056	$26,000	4,454,189	138
33	West Virginia	$38,292	$26,000	1,815,857	43
34	South Carolina	$36,956	$25,000	5,024,369	164
35	Oklahoma	$39,269	$28,000	3,930,864	65
36	Utah	$34,081	$25,000	3,101,833	160
37	Pennsylvania	$35,414	$23,000	12,805,537	443
38	District of Columbia	$41,420	$27,000	693,972	39
39	Arizona	$32,198	$23,000	7,016,270	408
40	New Jersey	$35,933	$23,000	9,005,644	333
41	Colorado	$34,938	$26,000	5,607,154	273
42	Alaska	$37,578	$33,000	739,795	26
43	North Carolina	$33,435	$22,000	10,273,419	441
44	Georgia	$36,414	$25,000	10,429,379	347
45	Nevada	$32,966	$24,000	2,998,039	89
46	Tennessee	$33,541	$23,000	6,715,984	214
47	Indiana	$33,746	$24,000	6,666,818	231
48	Alabama	$35,038	$24,000	4,874,747	122
49	Mississippi	$33,237	$23,000	2,984,100	62
50	Louisiana	$33,596	$23,000	4,684,333	72
51	Virginia	$34,483	$22,000	8,470,020	262

Highest paying states for lenders

Rank	State	Avg. Lender Salary
1	South Dakota	$52,962
2	Minnesota	$50,191
3	Maine	$47,679
4	Wyoming	$46,590
5	Rhode Island	$44,996
6	Michigan	$45,365
7	Washington	$50,925
8	North Dakota	$44,880
9	New Mexico	$50,218
10	Iowa	$46,758
11	Hawaii	$52,208
12	Wisconsin	$47,373
13	Arkansas	$47,473
14	Vermont	$44,958
15	Nebraska	$46,968
16	Illinois	$44,173
17	Texas	$41,955
18	Montana	$46,881
19	Delaware	$43,489
20	Maryland	$45,007
21	Ohio	$39,208
22	New York	$43,444
23	Missouri	$43,117
24	Massachusetts	$45,495
25	Kansas	$39,693
26	Florida	$39,531
27	California	$43,334
28	Oregon	$43,564
29	Connecticut	$41,510
30	Idaho	$37,730
31	New Hampshire	$41,178
32	Kentucky	$38,056
33	West Virginia	$38,292
34	South Carolina	$36,956
35	Oklahoma	$39,269
36	Utah	$34,081
37	Pennsylvania	$35,414
38	District of Columbia	$41,420
39	Arizona	$32,198
40	New Jersey	$35,933
41	Colorado	$34,938
42	Alaska	$37,578
43	North Carolina	$33,435
44	Georgia	$36,414
45	Nevada	$32,966
46	Tennessee	$33,541
47	Indiana	$33,746
48	Alabama	$35,038
49	Mississippi	$33,237
50	Louisiana	$33,596
51	Virginia	$34,483

Lender best states FAQs

What is the best state for lenders?

What is the highest paying state for lenders?

What is the worst state for lenders?

Have more questions? See all answers to common business and financial questions.

Search for lender jobs

Updated January 8, 2025

Browse business and financial jobs

Total Lender Jobs:	66
Average Annual Salary:	$52,962
Lowest 10 Percent Earn:	$40,000
Highest 10 Percent Earn:	$68,000
Location Quotient:	1.55

Best states for a Lender

10 best states for lenders in 2025

1. South Dakota

2. Minnesota

3. Maine

4. Wyoming

5. Rhode Island

6. Michigan

7. Washington

8. North Dakota

9. New Mexico

10. Iowa