Average Loan Officers Salary in Southwest Virginia nonmetropolitan area
The average salary for a Loan Officers in Southwest Virginia nonmetropolitan area is $89,290. This compensation is in line with national standards, reflecting a balanced and stable local job market.
Executive Summary
- Average Salary: $89,290 per year.
- Growth Trend: Salaries have shifted 84.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $139,990.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 130 professionals. This role remains a specialized component of the broader Southwest Virginia nonmetropolitan area economy.
Salary Overview
The average Loan Officers in Southwest Virginia nonmetropolitan area earns+3.6%above the national average.
$42.9
$1,717
$7,441
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Southwest Virginia nonmetropolitan area have experienced a rapid surge, growing by 84.0%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Southwest Virginia nonmetropolitan area
The earning potential for Loan Officerss in Southwest Virginia nonmetropolitan area varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.1x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $44,920, while highly experienced professionals can command wages upwards of $139,990.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $44,920 | $21.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,968 | $32.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $71,810 | $34.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $111,613 | $53.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $139,990 | $67.3 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$89,290
Gross Pay
Real Wage (Purchasing Power)
$89,290
Adjusted for COL (100)
In Southwest Virginia nonmetropolitan area, the Cost of Living Index is 100. This increases your effective purchasing power from $89,290 to $89,290.
Job Market Context
130
Total Jobs
1.09
Per 1K Jobs
0.58
Location Quotient
Southwest Virginia nonmetropolitan area has 0.58x 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.
130 people work as Loan Officers in Southwest Virginia nonmetropolitan area.
1.09 out of every 1,000 local jobs are Loan Officers positions — a typical concentration.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Loan Officers Salary | $68,310↓ 23% | 25 mi |
| Richmond, VA Loan Officers Salary | $83,230↓ 7% | 41 mi |
| Staunton-Stuarts Draft, VA Loan Officers Salary | $75,310↓ 16% | 56 mi |
| Harrisonburg, VA Loan Officers Salary | $86,410↓ 3% | 60 mi |
| Lynchburg, VA Loan Officers Salary | $74,330↓ 17% | 61 mi |
Comparing salaries near Southwest Virginia nonmetropolitan area
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Southwest Virginia nonmetropolitan area?
The median annual salary for a Loan Officers in Southwest Virginia nonmetropolitan area is $89,290. This typically ranges from $44,920 for entry-level positions to $139,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Virginia nonmetropolitan area is 3.6% higher than the national median of $86,220.
Is Southwest Virginia nonmetropolitan area a good place for Loan Officerss?
Yes, Southwest Virginia nonmetropolitan area is financially attractive for Loan Officerss. The average salary of $89,290 exceeds the national average. See distinct detailed breakdown below.
Is Southwest Virginia nonmetropolitan area a good place to live for Loan Officers?
The Cost of Living Index in Southwest Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($68,310) and Richmond, VA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 130 employees in the Southwest Virginia nonmetropolitan area area with a job density of 1.09 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 Southwest Virginia nonmetropolitan area