Average Loan Officers Salary in Tampa-St. Petersburg-Clearwater, FL
Loan Officers in the Tampa-St. Petersburg-Clearwater, FL area earn an average annual salary of $79,220. This figure is slightly below the national average of $86,220, suggesting localized market dynamics and demand influence compensation. Factors such as regional economic conditions and the specific needs of the Florida housing market likely contribute to this pay differential.
Executive Summary
- Average Salary: $79,220 per year.
- Growth Trend: Salaries have shifted 7.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $127,190.
- Outlook: The Tampa-St. Petersburg-Clearwater metropolitan area demonstrates a robust job market for Loan Officers, evidenced by a substantial local workforce of 4,000 individuals in this role. The Location Quotient of 1.47 indicates a significantly higher concentration of Loan Officers compared to the national average, suggesting strong and sustained demand for these professionals within the region.
Salary Overview
The average Loan Officers in Tampa-St. Petersburg-Clearwater, FL earns-8.1%below the national average.
$38.1
$1,523
$6,602
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Officers in Tampa-St. Petersburg-Clearwater have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by increasing demand for mortgage and financial services, coupled with inflation and the need for competitive compensation to attract and retain talent in a dynamic market.
Loan Officers Salary Distribution in Tampa-St. Petersburg-Clearwater, FL
Salary progression for Loan Officers in Tampa-St. Petersburg-Clearwater typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive experience and a proven track record can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career progression opportunities and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,610 | $18.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,415 | $28.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $71,780 | $34.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $99,025 | $47.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $127,190 | $61.1 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$79,220
Gross Pay
Real Wage (Purchasing Power)
$79,220
Adjusted for COL (100)
The nominal average salary of $79,220 for Loan Officers in Tampa-St. Petersburg-Clearwater aligns perfectly with the local Cost of Living Index of 100, which is the national average. 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 without the premium or discount often associated with higher or lower cost-of-living areas.
Job Market Context
4,000
Total Jobs
2.774
Per 1K Jobs
1.47
Location Quotient
With a location quotient of 1.47, Tampa-St. Petersburg-Clearwater, FL has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
With a Location Quotient of 1.47, the Tampa-St. Petersburg-Clearwater market is notably more concentrated with Loan Officers than the national average. This suggests a competitive environment where demand is strong enough to support a larger proportion of these professionals, potentially leading to more job opportunities but also requiring individuals to differentiate themselves to secure roles.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Lakeland-Winter Haven, FL Loan Officers Salary | $95,430↑ 20% | 32 mi |
| North Florida nonmetropolitan area Loan Officers Salary | $79,220- 0% | 49 mi |
| South Florida nonmetropolitan area Loan Officers Salary | $79,290↑ 0% | 49 mi |
| Homosassa Springs, FL Loan Officers Salary | $78,350↓ 1% | 60 mi |
Comparing salaries near Tampa-St. Petersburg-Clearwater, FL
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Tampa-St. Petersburg-Clearwater, FL?
The median annual salary for a Loan Officers in Tampa-St. Petersburg-Clearwater, FL is $79,220. This typically ranges from $38,610 for entry-level positions to $127,190 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Tampa-St. Petersburg-Clearwater, FL is 8.1% lower than the national median of $86,220.
Is Tampa-St. Petersburg-Clearwater, FL a lucrative place for Loan Officers?
Yes, with caveats.While the average salary is slightly below the national average, the robust job market concentration and average cost of living present a balanced opportunity. Loan Officers can achieve strong earnings, especially with experience, in this active market.
Is Tampa-St. Petersburg-Clearwater, FL a good place to live for Loan Officers?
The Cost of Living Index in Tampa-St. Petersburg-Clearwater, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Tampa-St. Petersburg-Clearwater, FL?
Some top paying nearby cities include Lakeland-Winter Haven, FL ($95,430) and North Florida nonmetropolitan area.
How does the Tampa-St. Petersburg-Clearwater salary compare to the national average?
The average annual salary for Loan Officers in Tampa-St. Petersburg-Clearwater is $79,220, which is approximately $7,000 less than the national average of $86,220.
What does the Location Quotient of 1.47 mean for Loan Officers in Tampa?
A Location Quotient of 1.47 indicates that Loan Officers are 47% more concentrated in the Tampa-St. Petersburg-Clearwater area than the national average, signifying higher local demand and a more specialized job market.
Is the cost of living high for Loan Officers in Tampa?
No, the cost of living in Tampa-St. Petersburg-Clearwater is at the national average (index of 100), meaning your salary has average purchasing power compared to other regions.
How many Loan Officers work in the Tampa-St. Petersburg-Clearwater area?
There are approximately 4,000 Loan Officers employed within the Tampa-St. Petersburg-Clearwater metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,000 employees in the Tampa-St. Petersburg-Clearwater, FL area with a job density of 2.774 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 Tampa-St. Petersburg-Clearwater, FL