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Average Loan Officers Salary in Texas

Loan Officers in Texas earn an average annual salary of $76,010, which is below the national average of $86,220. This disparity can be attributed to a variety of factors, including the state's specific economic conditions, the demand for mortgage and financial services, and the overall cost of living within Texas.

Executive Summary

  • Average Salary: $76,010 per year.
  • Growth Trend: Salaries have shifted 7.5% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $130,910.
  • Outlook: With a substantial local workforce of 24,070 Loan Officers, Texas demonstrates a significant presence in this sector. The location quotient of 0.92 suggests that the concentration of Loan Officers in Texas is nearly on par with the national average, indicating a stable and established job market with consistent demand for these professionals.
2024 Market Data

Salary Overview

$76,010

The average Loan Officers in Texas earns-11.8%below the national average.

BreakdownBased on 40h/week
Hourly

$36.5

Weekly

$1,462

Monthly

$6,334

Loan Officers Salary Distribution in Texas

Career progression for Loan Officers in Texas typically involves a salary increase with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and advanced skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies substantial earning potential and career advancement opportunities.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$35,810$17.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$57,008$27.4
ManagerOversees team, compliance, and project delivery.50% (Median)$63,770$30.7
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$95,013$45.7
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$130,910$62.9

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$76,010

Gross Pay

Real Wage (Purchasing Power)

$81,731

Adjusted for COL (93)

The average annual salary of $76,010 in Texas, when considered against a Cost of Living Index of 93 (meaning it's 7% cheaper than the national average), suggests that the purchasing power of a Loan Officer's salary is relatively strong. While the nominal salary is lower than the national average, the lower cost of living helps to offset this difference, potentially leading to a comparable or even better standard of living.

Job Market Context

24,070

Total Jobs

1.738

Per 1K Jobs

0.92

Location Quotient

Below Average

Texas has 0.92x 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 0.92 indicates that the proportion of Loan Officers in Texas's workforce is slightly lower than the national average. This suggests a moderately competitive market; while there's a substantial number of professionals, the demand might be slightly less concentrated than in other regions, offering a balanced environment for job seekers and employers.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
Killeen-Temple, TX Loan Officers Salary$68,800↓ 9%10 mi
Waco, TX Loan Officers Salary$75,900↓ 0%41 mi
Austin-Round Rock-San Marcos, TX Loan Officers Salary$73,830↓ 3%53 mi
College Station-Bryan, TX Loan Officers Salary$71,640↓ 6%82 mi

Comparing salaries near Texas

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in Texas?

The median annual salary for a Loan Officers in Texas is $76,010. This typically ranges from $35,810 for entry-level positions to $130,910 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Texas is 11.8% lower than the national median of $86,220.

Is Texas a lucrative place for Loan Officers?

Yes, with a caveat. While the average salary is below the national average, the lower cost of living makes Texas a financially viable location.The average salary of $76,010 is offset by a Cost of Living Index of 93, meaning your earnings can go further in Texas compared to higher cost-of-living states.

Is Texas a good place to live for Loan Officers?

With a Cost of Living Index of 93 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Texas?

Some top paying nearby cities include Killeen-Temple, TX ($68,800) and Waco, TX.

How does the Texas Loan Officer salary compare to the national average?

The average annual salary for Loan Officers in Texas is $76,010, which is approximately $10,210 less than the national average of $86,220.

What is the concentration of Loan Officers in Texas?

Texas has a Location Quotient of 0.92 for Loan Officers, indicating that the job is present in the state at a rate very close to the national average.

How does the cost of living in Texas affect a Loan Officer's salary?

With a Cost of Living Index of 93, Texas is 7% cheaper than the national average. This means the $76,010 salary offers a good purchasing power relative to the cost of living.

What is the total number of Loan Officers in Texas?

There are approximately 24,070 Loan Officers employed in Texas, representing a significant portion of the state's financial services workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 24,070 employees in the Texas area with a job density of 1.738 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Texas