SalaryNode

Average Loan Officers Salary in Gulfport-Biloxi, MS

Loan Officers in the Gulfport-Biloxi, MS area earn an average annual salary of $60,340. This figure is notably below the national average of $86,220, suggesting that local economic factors and market demand play a significant role in compensation within this specific region.

Executive Summary

  • Average Salary: $60,340 per year.
  • Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $103,020.
  • Outlook: With a local workforce of 350 Loan Officers, the Gulfport-Biloxi area demonstrates a stable, albeit not expansive, presence in this profession. The Location Quotient of 1.16 indicates a concentration of Loan Officers slightly above the national average, suggesting a consistent, localized demand for these financial services.
2024 Market Data

Salary Overview

$60,340

The average Loan Officers in Gulfport-Biloxi, MS earns-30.0%below the national average.

BreakdownBased on 40h/week
Hourly

$29

Weekly

$1,160

Monthly

$5,028

Loan Officers Salary Distribution in Gulfport-Biloxi, MS

Career progression for Loan Officers typically involves a significant salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive experience and a proven track record can command salaries well above the average. The percentile gaps in salary distributions clearly signify this career trajectory and earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$36,440$17.5
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$45,255$21.8
ManagerOversees team, compliance, and project delivery.50% (Median)$48,710$23.4
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$75,425$36.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$103,020$49.5

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$60,340

Gross Pay

Real Wage (Purchasing Power)

$60,340

Adjusted for COL (100)

The average annual salary of $60,340 in Gulfport-Biloxi aligns perfectly with the national average 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 standing relative to the cost of goods and services.

Job Market Context

350

Total Jobs

2.193

Per 1K Jobs

1.16

Location Quotient

Above Average

With a location quotient of 1.16, Gulfport-Biloxi, MS has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.

A Location Quotient of 1.16 for Loan Officers in Gulfport-Biloxi suggests a market that is slightly more concentrated than the national average. This indicates a healthy demand for these professionals within the local economy, potentially offering competitive opportunities for those seeking employment in the area.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
Slidell-Mandeville-Covington, LA Loan Officers Salary$75,250↑ 25%44 mi
New Orleans-Metairie, LA Loan Officers Salary$71,150↑ 18%57 mi
Mobile, AL Loan Officers Salary$75,620↑ 25%59 mi
Hattiesburg, MS Loan Officers Salary$69,520↑ 15%63 mi
Daphne-Fairhope-Foley, AL Loan Officers Salary$80,560↑ 34%72 mi

Comparing salaries near Gulfport-Biloxi, MS

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in Gulfport-Biloxi, MS?

The median annual salary for a Loan Officers in Gulfport-Biloxi, MS is $60,340. This typically ranges from $36,440 for entry-level positions to $103,020 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Gulfport-Biloxi, MS is 30.0% lower than the national median of $86,220.

Is Gulfport-Biloxi, MS a lucrative place for Loan Officers?

No, not exceptionally lucrative compared to the national average.While the salary aligns with the local cost of living, the average annual income of $60,340 is substantially lower than the national average of $86,220 for Loan Officers.

Is Gulfport-Biloxi, MS a good place to live for Loan Officers?

The Cost of Living Index in Gulfport-Biloxi, MS is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Gulfport-Biloxi, MS?

Some top paying nearby cities include Slidell-Mandeville-Covington, LA ($75,250) and New Orleans-Metairie, LA.

How does the Gulfport-Biloxi Loan Officer salary compare to the national average?

The average salary for Loan Officers in Gulfport-Biloxi, MS is $60,340, which is significantly lower than the national average of $86,220.

What is the Cost of Living in Gulfport-Biloxi, MS?

The Cost of Living Index in Gulfport-Biloxi, MS is 100, which is exactly the national average.

How many Loan Officers work in Gulfport-Biloxi, MS?

There are approximately 350 Loan Officers employed in the Gulfport-Biloxi, MS area.

Is there high demand for Loan Officers in Gulfport-Biloxi, MS?

With a Location Quotient of 1.16, the concentration of Loan Officers is slightly above the national average, indicating a steady, localized demand for their services.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 350 employees in the Gulfport-Biloxi, MS area with a job density of 2.193 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Gulfport-Biloxi, MS