Average Loan Officers Salary in Nashville-Davidson--Murfreesboro--Franklin, TN
Loan Officers in the Nashville-Davidson--Murfreesboro--Franklin, TN area earn an average annual salary of $77,980. This figure is slightly below the national average of $86,220, suggesting that while the demand is present, local market dynamics and potentially other contributing factors influence compensation. The specific economic landscape and housing market conditions within this Tennessee region play a significant role in shaping the earning potential for these financial professionals.
Executive Summary
- Average Salary: $77,980 per year.
- Growth Trend: Salaries have shifted 34.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $131,010.
- Outlook: The local workforce for Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN comprises 2,370 professionals, indicating a substantial presence in the region. With a Location Quotient of 1.15, the concentration of these roles is slightly higher than the national average, suggesting a robust and potentially growing demand for their services. This indicates a healthy job market where opportunities are likely to be consistent.
Salary Overview
The average Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN earns-9.6%below the national average.
$37.5
$1,500
$6,498
Loan Officers Salary Trends (2020-2024)
While specific historical data for this locality isn't provided, it's reasonable to assume that Loan Officer salaries in Nashville-Davidson--Murfreesboro--Franklin, TN have likely seen steady growth over the past four years. Economic expansion, fluctuating interest rates, and evolving housing market trends typically drive an upward trend in compensation for financial professionals, reflecting increased demand and the need to attract skilled individuals.
Loan Officers Salary Distribution in Nashville-Davidson--Murfreesboro--Franklin, TN
Salary progression for Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN typically scales significantly with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record and extensive client networks can command salaries in the upper percentiles. The gap between entry-level and senior roles highlights the value placed on expertise, client relationship management, and a deep understanding of financial products.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,260 | $18.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,485 | $28.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $66,130 | $31.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $97,475 | $46.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $131,010 | $63 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$77,980
Gross Pay
Real Wage (Purchasing Power)
$77,980
Adjusted for COL (100)
The average annual salary of $77,980 for Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN 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 environment for residents without the added pressure of unusually high or low living expenses.
Job Market Context
2,370
Total Jobs
2.165
Per 1K Jobs
1.15
Location Quotient
With a location quotient of 1.15, Nashville-Davidson--Murfreesboro--Franklin, TN has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.15 for Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN signifies a market where these professionals are slightly more concentrated than the national average. This suggests a healthy demand and a competitive environment, where employers may need to offer competitive compensation to attract and retain talent. The market is neither oversaturated nor scarce, presenting a balanced landscape for job seekers and employers alike.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| East Tennessee nonmetropolitan area Loan Officers Salary | $73,580↓ 6% | 29 mi |
| South Central Tennessee nonmetropolitan area Loan Officers Salary | $70,660↓ 9% | 29 mi |
| West Tennessee nonmetropolitan area Loan Officers Salary | $69,560↓ 11% | 29 mi |
| North Central Tennessee nonmetropolitan area Loan Officers Salary | $73,340↓ 6% | 29 mi |
| Clarksville, TN-KY Loan Officers Salary | $76,070↓ 2% | 42 mi |
Comparing salaries near Nashville-Davidson--Murfreesboro--Franklin, TN
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Frequently Asked Questions
How much does a Loan Officers make in Nashville-Davidson--Murfreesboro--Franklin, TN?
The median annual salary for a Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN is $77,980. This typically ranges from $39,260 for entry-level positions to $131,010 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Nashville-Davidson--Murfreesboro--Franklin, TN is 9.6% lower than the national median of $86,220.
Is Nashville-Davidson--Murfreesboro--Franklin, TN a lucrative place for Loan Officers?
Yes, with a stable cost of living.Loan Officers in this area earn $77,980 annually, which aligns with the national average cost of living. The slightly higher concentration of these roles (LQ 1.15) indicates a healthy market demand.
Is Nashville-Davidson--Murfreesboro--Franklin, TN a good place to live for Loan Officers?
The Cost of Living Index in Nashville-Davidson--Murfreesboro--Franklin, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Nashville-Davidson--Murfreesboro--Franklin, TN?
Some top paying nearby cities include East Tennessee nonmetropolitan area ($73,580) and South Central Tennessee nonmetropolitan area.
How does the Nashville Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Nashville-Davidson--Murfreesboro--Franklin, TN is $77,980, which is below the national average of $86,220.
What is the cost of living in Nashville-Davidson--Murfreesboro--Franklin, TN for Loan Officers?
The cost of living in this region is exactly at the national average, indexed at 100, meaning your salary has average purchasing power.
Is there high demand for Loan Officers in Nashville?
With a Location Quotient of 1.15, there is a slightly higher concentration of Loan Officers compared to the national average, suggesting a robust demand for their services.
How many Loan Officers are there in the Nashville area?
The Nashville-Davidson--Murfreesboro--Franklin, TN metropolitan area has a total workforce of 2,370 Loan Officers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,370 employees in the Nashville-Davidson--Murfreesboro--Franklin, TN area with a job density of 2.165 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 Nashville-Davidson--Murfreesboro--Franklin, TN