Average Loan Officers Salary in Crestview-Fort Walton Beach-Destin, FL
Loan Officers in the Crestview-Fort Walton Beach-Destin, FL area earn an average annual salary of $74,790. This figure is notably below the national average of $86,220, suggesting that local market dynamics and demand play a significant role in compensation within this region. Factors such as the specific economic landscape and the concentration of financial institutions likely influence this pay scale.
Executive Summary
- Average Salary: $74,790 per year.
- Growth Trend: Salaries have shifted 5.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $129,890.
- Outlook: The local job market for Loan Officers in Crestview-Fort Walton Beach-Destin, FL, appears stable with a total workforce of 250 individuals in this role. The Location Quotient of 1.08 indicates a slightly higher concentration of Loan Officers compared to the national average, suggesting a steady, albeit not overwhelmingly robust, demand for these professionals in the area.
Salary Overview
The average Loan Officers in Crestview-Fort Walton Beach-Destin, FL earns-13.3%below the national average.
$36
$1,438
$6,233
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Officers in Crestview-Fort Walton Beach-Destin, FL, have experienced gradual growth over the past four years, mirroring national trends. Economic shifts and evolving housing markets typically drive increases in demand and, consequently, compensation for lending professionals.
Loan Officers Salary Distribution in Crestview-Fort Walton Beach-Destin, FL
Career progression for Loan Officers typically involves a significant salary increase with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and specialized skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies substantial earning potential and career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $26,590 | $12.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $56,093 | $27 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $65,860 | $31.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $93,488 | $44.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $129,890 | $62.4 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$74,790
Gross Pay
Real Wage (Purchasing Power)
$74,790
Adjusted for COL (100)
For individuals considering a move to Crestview-Fort Walton Beach-Destin, FL, the nominal salary of $74,790 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of a Loan Officer's salary in this area is equivalent to the national average, offering a stable financial outlook without the pressure of higher living expenses.
Job Market Context
250
Total Jobs
2.03
Per 1K Jobs
1.08
Location Quotient
With a location quotient of 1.08, Crestview-Fort Walton Beach-Destin, FL has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
With a Location Quotient of 1.08, the Crestview-Fort Walton Beach-Destin, FL market exhibits a slightly higher concentration of Loan Officers than the national average. This suggests a moderately competitive environment where demand is present, but perhaps not exceptionally high, indicating a balanced job market for skilled lending professionals.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Pensacola-Ferry Pass-Brent, FL Loan Officers Salary | $72,970↓ 2% | 42 mi |
| Panama City-Panama City Beach, FL Loan Officers Salary | $80,950↑ 8% | 69 mi |
| Dothan, AL Loan Officers Salary | $71,530↓ 4% | 77 mi |
| Daphne-Fairhope-Foley, AL Loan Officers Salary | $80,560↑ 8% | 78 mi |
| Mobile, AL Loan Officers Salary | $75,620↑ 1% | 91 mi |
Comparing salaries near Crestview-Fort Walton Beach-Destin, FL
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Crestview-Fort Walton Beach-Destin, FL?
The median annual salary for a Loan Officers in Crestview-Fort Walton Beach-Destin, FL is $74,790. This typically ranges from $26,590 for entry-level positions to $129,890 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Crestview-Fort Walton Beach-Destin, FL is 13.3% lower than the national median of $86,220.
Is Crestview-Fort Walton Beach-Destin, FL a lucrative place for Loan Officers?
No, it is not more lucrative than the national average.Loan Officers in this area earn $74,790 annually, which is below the national average of $86,220. However, the cost of living is on par with the national average, making the salary's purchasing power equivalent.
Is Crestview-Fort Walton Beach-Destin, FL a good place to live for Loan Officers?
The Cost of Living Index in Crestview-Fort Walton Beach-Destin, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Crestview-Fort Walton Beach-Destin, FL?
Some top paying nearby cities include Pensacola-Ferry Pass-Brent, FL ($72,970) and Panama City-Panama City Beach, FL.
How does the local salary compare to the national average?
The average annual salary for Loan Officers in Crestview-Fort Walton Beach-Destin, FL is $74,790, which is lower than the national average of $86,220.
What is the concentration of Loan Officers in this area?
The Location Quotient for Loan Officers in Crestview-Fort Walton Beach-Destin, FL is 1.08, indicating a slightly higher concentration compared to the national average.
How does the cost of living affect the salary?
The Cost of Living Index in Crestview-Fort Walton Beach-Destin, FL is 100, which is the national average. This means the $74,790 salary has the same purchasing power as the national average salary.
What is the total number of Loan Officers in this region?
There are approximately 250 Loan Officers employed within the Crestview-Fort Walton Beach-Destin, FL metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Crestview-Fort Walton Beach-Destin, FL area with a job density of 2.03 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Loan Officers Salaries by State
Top Jobs in Crestview-Fort Walton Beach-Destin, FL
- All Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Food Preparation and Serving Related Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Sales and Related Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Office and Administrative Support Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Management Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Business and Financial Operations Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Transportation and Material Moving Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Healthcare Practitioners and Technical Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Installation, Maintenance, and Repair Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Construction and Extraction Occupations Salary in Crestview-Fort Walton Beach-Destin, FL
- Browse All Jobs in Crestview-Fort Walton Beach-Destin, FL →
Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Crestview-Fort Walton Beach-Destin, FL