Average Loan Officers Salary in Southern Ohio nonmetropolitan area
Loan Officers in Southern Ohio's nonmetropolitan areas earn an average annual salary of $69,570. This figure is notably below the national average of $86,220, reflecting regional economic factors and a potentially lower demand for specialized financial services in less densely populated areas. The unique economic landscape of Southern Ohio directly influences compensation levels for professionals in this sector.
Executive Summary
- Average Salary: $69,570 per year.
- Growth Trend: Salaries have shifted 3.6% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $110,970.
- Outlook: The local workforce for Loan Officers in this Southern Ohio nonmetropolitan area comprises 260 individuals. With a Location Quotient of 0.84, the concentration of these roles is slightly below the national average, suggesting a stable but not exceptionally high demand. The presence of 1.591 jobs per 1,000 workers indicates a consistent, albeit modest, need for Loan Officers within the region's economic structure.
Salary Overview
The average Loan Officers in Southern Ohio nonmetropolitan area earns-19.3%below the national average.
$33.5
$1,338
$5,798
Loan Officers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is reasonable to assume a general trend of salary growth for Loan Officers over the past four years, mirroring national patterns. Economic recovery and evolving lending practices likely contributed to incremental increases in compensation, though regional disparities may mean growth rates differ from major metropolitan hubs.
Loan Officers Salary Distribution in Southern Ohio nonmetropolitan area
Salary progression for Loan Officers typically correlates with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with a proven track record and advanced skills can command significantly higher salaries. The percentile gaps in salary distribution highlight the substantial earning potential available to senior Loan Officers who have cultivated expertise and a strong client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,220 | $17.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,178 | $25.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $60,800 | $29.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $86,963 | $41.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $110,970 | $53.4 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$69,570
Gross Pay
Real Wage (Purchasing Power)
$69,570
Adjusted for COL (100)
The average annual salary of $69,570 in Southern Ohio's nonmetropolitan area aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of a Loan Officer's salary in this region is equivalent to that of a Loan Officer earning the national average in a location with a national average cost of living. Therefore, the nominal salary offers a comparable standard of living to the national average.
Job Market Context
260
Total Jobs
1.591
Per 1K Jobs
0.84
Location Quotient
Southern Ohio nonmetropolitan area has 0.84x 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 0.84 indicates that Loan Officer roles are slightly less concentrated in this Southern Ohio nonmetropolitan area compared to the national average. This suggests that while the job market is present and stable, it may not be as saturated or competitive as in areas with a higher concentration of financial institutions. Professionals may find a steady demand without facing intense competition from a large pool of peers.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Mansfield, OH Loan Officers Salary | $73,030↑ 5% | 29 mi |
| Columbus, OH Loan Officers Salary | $87,500↑ 26% | 32 mi |
| Springfield, OH Loan Officers Salary | $84,670↑ 22% | 63 mi |
| Sandusky, OH Loan Officers Salary | $88,490↑ 27% | 73 mi |
| Lima, OH Loan Officers Salary | $86,050↑ 24% | 75 mi |
Comparing salaries near Southern Ohio nonmetropolitan area
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Southern Ohio nonmetropolitan area?
The median annual salary for a Loan Officers in Southern Ohio nonmetropolitan area is $69,570. This typically ranges from $37,220 for entry-level positions to $110,970 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southern Ohio nonmetropolitan area is 19.3% lower than the national median of $86,220.
Is Southern Ohio nonmetropolitan area a lucrative place for Loan Officers?
No, not compared to the national average.The average salary of $69,570 is significantly lower than the national average of $86,220. While the cost of living is average, the nominal pay does not offer the same earning potential as in higher-paying regions.
Is Southern Ohio nonmetropolitan area a good place to live for Loan Officers?
The Cost of Living Index in Southern Ohio nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southern Ohio nonmetropolitan area?
Some top paying nearby cities include Mansfield, OH ($73,030) and Columbus, OH.
How does the local Loan Officer job market compare to the national average?
The local job market for Loan Officers in this Southern Ohio nonmetropolitan area is slightly less concentrated than the national average, with a Location Quotient of 0.84. This suggests a stable but less competitive environment.
What is the average salary for a Loan Officer in this region?
The average annual salary for a Loan Officer in Southern Ohio's nonmetropolitan areas is $69,570.
Does the cost of living affect the value of a Loan Officer's salary in Southern Ohio?
No, the cost of living in this region is exactly at the national average (100). This means the $69,570 salary provides a purchasing power equivalent to the national average.
How many Loan Officers work in this Southern Ohio nonmetropolitan area?
There are approximately 260 Loan Officers employed in this specific Southern Ohio nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Southern Ohio nonmetropolitan area area with a job density of 1.591 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 Southern Ohio nonmetropolitan area