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Job outlook for loan officers in the United States
Loan officer job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected loan officer job growth rate is 4% from 2018-2028.
About 12,600 new jobs for loan officers are projected over the next decade.
Loan officer salaries have increased 0% for loan officers in the last 5 years.
There are over 239,324 loan officers currently employed in the United States.
There are 63,663 active loan officer job openings in the US.
The average loan officer salary is $45,817.
Are loan officer jobs in demand?
Loan officer job and salary trends over time
Loan officer jobs over time
Loan officer job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 239,324 | 0.07% |
| 2020 | 215,841 | 0.06% |
| 2019 | 216,112 | 0.06% |
| 2018 | 215,486 | 0.06% |
| 2017 | 217,443 | 0.07% |
Average loan officer salary over time
Loan officer salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $45,817 | $22.03 | +1.1% |
| 2024 | $45,323 | $21.79 | +0.4% |
| 2023 | $45,158 | $21.71 | --2.5% |
| 2022 | $46,319 | $22.27 | +1.6% |
| 2021 | $45,595 | $21.92 | +0.3% |
Loan officer jobs by state
Most common states for loan officers
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | Idaho | 1,716,943 | 355 | 21% |
| 2 | North Dakota | 755,393 | 133 | 18% |
| 3 | Virginia | 8,470,020 | 1,332 | 16% |
| 4 | Colorado | 5,607,154 | 882 | 16% |
| 5 | Rhode Island | 1,059,639 | 169 | 16% |
| 6 | Arizona | 7,016,270 | 1,036 | 15% |
| 7 | Massachusetts | 6,859,819 | 1,011 | 15% |
| 8 | Minnesota | 5,576,606 | 818 | 15% |
| 9 | Iowa | 3,145,711 | 476 | 15% |
| 10 | Vermont | 623,657 | 96 | 15% |
| 11 | South Dakota | 869,666 | 124 | 14% |
| 12 | Georgia | 10,429,379 | 1,348 | 13% |
| 13 | Maryland | 6,052,177 | 761 | 13% |
| 14 | Nebraska | 1,920,076 | 250 | 13% |
| 15 | New Hampshire | 1,342,795 | 168 | 13% |
| 16 | Illinois | 12,802,023 | 1,540 | 12% |
| 17 | Washington | 7,405,743 | 857 | 12% |
| 18 | Maine | 1,335,907 | 155 | 12% |
| 19 | Wisconsin | 5,795,483 | 660 | 11% |
| 20 | New Mexico | 2,088,070 | 227 | 11% |
Most common cities for loan officers
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Sarasota | 4 | 7% | $47,329 |
| 2 | Ann Arbor | 5 | 4% | $49,635 |
| 3 | Portland | 3 | 4% | $57,825 |
| 4 | Boca Raton | 3 | 3% | $47,443 |
| 5 | Tampa | 6 | 2% | $47,064 |
| 6 | Fort Lauderdale | 4 | 2% | $47,561 |
| 7 | Corona | 3 | 2% | $46,213 |
| 8 | Amherst | 2 | 2% | $57,525 |
| 9 | Centennial | 2 | 2% | $40,606 |
| 10 | Atlanta | 7 | 1% | $43,808 |
| 11 | Detroit | 6 | 1% | $50,011 |
| 12 | Baltimore | 5 | 1% | $55,533 |
| 13 | Denver | 5 | 1% | $40,591 |
| 14 | Miami | 5 | 1% | $47,733 |
| 15 | Orlando | 4 | 1% | $46,714 |
| 16 | Birmingham | 2 | 1% | $38,322 |
| 17 | Cape Coral | 2 | 1% | $47,548 |
| 18 | Chicago | 4 | 0% | $41,977 |
| 19 | San Diego | 4 | 0% | $45,815 |
Loan Officer job outlook: Expert opinions
Our panel of loan officer experts
Arkansas State University
Dr. Bert Greenwalt
Professor of Agricultural EconomicsArkansas State University
College of Agriculture
What skills stand out on Loan Officer resumes?
Dr. Bert Greenwalt: -Familiarity with farm businesses and rural culture
-1-3 yrs. experience in the agribusiness sector
What soft skills should all Loan Officers possess?
Dr. Bert Greenwalt: -Effective interpersonal communication
-Ability to explain complex concepts
What hard/technical skills are most important for Loan Officers?
Dr. Bert Greenwalt: -Analytical and problem-solving skills
-Critical thinking skills
-Understanding of farm business management and finance
What skills will help Loan Officers earn the most?
Dr. Bert Greenwalt: -Excellent strategic selling skills and proven customer service skills