Average Loan Officers Salary in Niles, MI
The average salary for Loan Officerss in Niles, MI is $73,190. While this is lower than the national average, the cost of living in Niles, MI may offset the difference, preserving real purchasing power. Notably, Niles, MI is a key hub for this profession, with a job concentration 1.51x higher than average.
Executive Summary
- Average Salary: $73,190 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $119,870.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 170 professionals. This role remains a specialized component of the broader Niles, MI economy.
Salary Overview
The average Loan Officers in Niles, MI earns-15.1%below the national average.
$35.2
$1,408
$6,099
Loan Officers Salary Trends (2020-2024)
Historical trend data for Loan Officers in Niles, MI is limited, but current market signals indicate a stable demand environment.
Loan Officers Salary Distribution in Niles, MI
The earning potential for Loan Officerss in Niles, MI varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.4x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $35,010, while highly experienced professionals can command wages upwards of $119,870.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,010 | $16.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $54,893 | $26.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $59,600 | $28.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $91,488 | $44 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $119,870 | $57.6 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$73,190
Gross Pay
Real Wage (Purchasing Power)
$73,190
Adjusted for COL (100)
In Niles, MI, the Cost of Living Index is 100. This increases your effective purchasing power from $73,190 to $73,190.
Job Market Context
170
Total Jobs
2.844
Per 1K Jobs
1.51
Location Quotient
Niles, MI has 1.5x the national concentration of Loan Officers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
170 people work as Loan Officers in Niles, MI.
Moderate density — roughly 2.844 out of every 1,000 local jobs are in this profession.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Loan Officers Salary | $69,600↓ 5% | 11 mi |
| Elkhart-Goshen, IN Loan Officers Salary | $72,480↓ 1% | 18 mi |
| Michigan City-La Porte, IN Loan Officers Salary | $71,710↓ 2% | 33 mi |
| Kalamazoo-Portage, MI Loan Officers Salary | $68,500↓ 6% | 45 mi |
| Battle Creek, MI Loan Officers Salary | $59,510↓ 19% | 61 mi |
Comparing salaries near Niles, MI
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Niles, MI?
The median annual salary for a Loan Officers in Niles, MI is $73,190. This typically ranges from $35,010 for entry-level positions to $119,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Niles, MI is 15.1% lower than the national median of $86,220.
Is Niles, MI a good place for Loan Officerss?
Yes, Niles, MI is highly recommended due to strong job demand. While salaries are competitive ($73,190), the area is particularly notable for its high job density for Loan Officerss. See distinct detailed breakdown below.
Is Niles, MI a good place to live for Loan Officers?
The Cost of Living Index in Niles, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Niles, MI?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($69,600) and Elkhart-Goshen, IN.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 170 employees in the Niles, MI area with a job density of 2.844 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 Niles, MI
- All Occupations Salary in Niles, MI
- Food Preparation and Serving Related Occupations Salary in Niles, MI
- Office and Administrative Support Occupations Salary in Niles, MI
- Production Occupations Salary in Niles, MI
- Sales and Related Occupations Salary in Niles, MI
- Transportation and Material Moving Occupations Salary in Niles, MI
- Management Occupations Salary in Niles, MI
- Healthcare Practitioners and Technical Occupations Salary in Niles, MI
- Educational Instruction and Library Occupations Salary in Niles, MI
- Business and Financial Operations Occupations Salary in Niles, MI
- Browse All Jobs in Niles, MI →
Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Niles, MI