Average Loan Officers Salary in Kingsport-Bristol, TN-VA
Loan Officers in Kingsport-Bristol, TN-VA earn an average annual salary of $65,030. This figure is notably below the national average of $86,220, reflecting regional economic factors and demand specific to the Tri-Cities area. Local market dynamics, including the concentration of financial institutions and the overall economic health of the region, play a significant role in shaping compensation for these vital roles.
Executive Summary
- Average Salary: $65,030 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $101,730.
- Outlook: With a total local workforce of 280 Loan Officers, the Kingsport-Bristol area demonstrates a stable, albeit niche, employment landscape for this profession. The Location Quotient of 1.26 indicates a slightly higher concentration of Loan Officers compared to the national average, suggesting a moderate but consistent demand for their services within the region's financial sector.
Salary Overview
The average Loan Officers in Kingsport-Bristol, TN-VA earns-24.6%below the national average.
$31.3
$1,251
$5,419
Loan Officers Salary Trends (2020-2024)
While specific historical data for Kingsport-Bristol Loan Officers is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic recovery, evolving lending practices, and inflation typically contribute to incremental increases in compensation for skilled professionals in the financial services industry.
Loan Officers Salary Distribution in Kingsport-Bristol, TN-VA
Salary progression for Loan Officers in Kingsport-Bristol typically correlates with experience and specialization. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with a proven track record in complex loan origination, client management, and regulatory compliance can command significantly higher salaries. The widening gap between entry-level and senior-level salaries often signifies substantial career advancement and increased responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,020 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $48,773 | $23.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $62,590 | $30.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $81,288 | $39.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $101,730 | $48.9 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$65,030
Gross Pay
Real Wage (Purchasing Power)
$65,030
Adjusted for COL (100)
The average annual salary of $65,030 in Kingsport-Bristol, TN-VA aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of a Loan Officer's salary in this region is comparable to the national standard, offering a balanced lifestyle without the premium often associated with higher cost-of-living areas.
Job Market Context
280
Total Jobs
2.366
Per 1K Jobs
1.26
Location Quotient
With a location quotient of 1.26, Kingsport-Bristol, TN-VA has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.26 suggests that Loan Officers are slightly more prevalent in Kingsport-Bristol, TN-VA than the national average. This indicates a healthy, albeit not saturated, job market where demand is present and potentially growing, offering opportunities for both new entrants and experienced professionals seeking to establish or advance their careers in the area.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Johnson City, TN Loan Officers Salary | $77,920↑ 20% | 16 mi |
| Morristown, TN Loan Officers Salary | $60,610↓ 7% | 47 mi |
| Asheville, NC Loan Officers Salary | $88,950↑ 37% | 66 mi |
| Hickory-Lenoir-Morganton, NC Loan Officers Salary | $70,390↑ 8% | 87 mi |
| Knoxville, TN Loan Officers Salary | $71,820↑ 10% | 87 mi |
Comparing salaries near Kingsport-Bristol, TN-VA
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Kingsport-Bristol, TN-VA?
The median annual salary for a Loan Officers in Kingsport-Bristol, TN-VA is $65,030. This typically ranges from $37,020 for entry-level positions to $101,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kingsport-Bristol, TN-VA is 24.6% lower than the national median of $86,220.
Is Kingsport-Bristol, TN-VA a lucrative place for Loan Officers?
No, not compared to the national average.While the cost of living is average, the nominal salary of $65,030 is significantly lower than the national average of $86,220. This suggests less lucrative earning potential for Loan Officers in this specific region.
Is Kingsport-Bristol, TN-VA a good place to live for Loan Officers?
The Cost of Living Index in Kingsport-Bristol, TN-VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kingsport-Bristol, TN-VA?
Some top paying nearby cities include Johnson City, TN ($77,920) and Morristown, TN.
How does the Kingsport-Bristol Loan Officer salary compare to the national average?
The average salary for Loan Officers in Kingsport-Bristol, TN-VA is $65,030, which is considerably lower than the national average of $86,220.
What is the concentration of Loan Officers in Kingsport-Bristol, TN-VA?
The Location Quotient is 1.26, indicating a slightly higher concentration of Loan Officers in this area compared to the national average.
How does the cost of living in Kingsport-Bristol, TN-VA affect salary perception?
With a Cost of Living Index of 100, the local cost of living matches the national average, meaning the $65,030 salary has average purchasing power.
What does the number of jobs per 1,000 workers suggest for Loan Officers in Kingsport-Bristol?
The rate of 2.366 jobs per 1,000 workers suggests a steady presence and demand for Loan Officers within the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 280 employees in the Kingsport-Bristol, TN-VA area with a job density of 2.366 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Kingsport-Bristol, TN-VA