Average Loan Officers Salary in Lexington-Fayette, KY
Loan Officers in Lexington-Fayette, KY, earn an average annual salary of $76,830. This figure is notably below the national average of $86,220, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation within this region.
Executive Summary
- Average Salary: $76,830 per year.
- Growth Trend: Salaries have shifted 3.3% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $113,040.
- Outlook: With a local workforce of 440 Loan Officers, Lexington-Fayette presents a moderately sized employment pool. The Location Quotient of 0.82 indicates a concentration of these roles that is slightly below the national average, suggesting a stable but not exceptionally high demand for Loan Officers in the area.
Salary Overview
The average Loan Officers in Lexington-Fayette, KY earns-10.9%below the national average.
$36.9
$1,478
$6,403
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the demand for Loan Officers has seen consistent growth over the past four years, driven by economic activity and housing market fluctuations. This trend likely translates to a gradual increase in average salaries within Lexington-Fayette, mirroring national patterns.
Loan Officers Salary Distribution in Lexington-Fayette, KY
Salary progression for Loan Officers in Lexington-Fayette, KY, typically sees a significant increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with proven track records and specialized skills can command salaries in the upper percentiles, reflecting a clear career growth trajectory.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $42,990 | $20.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,623 | $27.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,460 | $35.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $96,038 | $46.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $113,040 | $54.3 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$76,830
Gross Pay
Real Wage (Purchasing Power)
$76,830
Adjusted for COL (100)
The average annual salary of $76,830 in Lexington-Fayette, KY, 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 region is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
440
Total Jobs
1.551
Per 1K Jobs
0.82
Location Quotient
Lexington-Fayette, KY has 0.82x the national average concentration of Loan Officers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.82 for Loan Officers in Lexington-Fayette, KY, suggests that the concentration of these professionals is slightly less than the national average. This indicates a market that is neither oversaturated nor exceptionally scarce, implying a balanced environment for job seekers and employers alike.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Loan Officers Salary | $70,760↓ 8% | 28 mi |
| South Central Kentucky nonmetropolitan area Loan Officers Salary | $72,420↓ 6% | 28 mi |
| West Kentucky nonmetropolitan area Loan Officers Salary | $82,490↑ 7% | 28 mi |
| East Kentucky nonmetropolitan area Loan Officers Salary | $71,850↓ 6% | 28 mi |
| Louisville/Jefferson County, KY-IN Loan Officers Salary | $77,620↑ 1% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Lexington-Fayette, KY?
The median annual salary for a Loan Officers in Lexington-Fayette, KY is $76,830. This typically ranges from $42,990 for entry-level positions to $113,040 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 10.9% lower than the national median of $86,220.
Is Lexington-Fayette, KY a lucrative place for Loan Officers?
No, not exceptionally lucrative compared to the national average.While the salary of $76,830 is substantial, it falls below the national average of $86,220. However, the cost of living being at the national average means the salary's purchasing power is equivalent nationally.
Is Lexington-Fayette, KY a good place to live for Loan Officers?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($70,760) and South Central Kentucky nonmetropolitan area.
How does the Lexington-Fayette Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Lexington-Fayette, KY, is $76,830, which is approximately $9,390 less than the national average of $86,220.
What is the concentration of Loan Officers in Lexington-Fayette, KY?
The concentration, measured by the Location Quotient, is 0.82, indicating that Loan Officers are slightly less prevalent in Lexington-Fayette compared to the national average.
How does the cost of living affect the Loan Officer salary in Lexington-Fayette, KY?
With a Cost of Living Index of 100, the local cost of living is exactly at the national average. Therefore, the $76,830 salary offers purchasing power equivalent to the national average.
What is the total number of Loan Officers in Lexington-Fayette, KY?
There are approximately 440 Loan Officers employed in the Lexington-Fayette, KY area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 440 employees in the Lexington-Fayette, KY area with a job density of 1.551 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 Lexington-Fayette, KY