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Average Real Estate Brokers Salary in Illinois

Real Estate Brokers in Illinois earn an average annual salary of $75,150, which is notably below the national average of $91,770. This disparity can be attributed to a combination of factors specific to the Illinois market, including regional economic conditions, local market demand, and the overall cost of living within the state.

Executive Summary

  • Average Salary: $75,150 per year.
  • Growth Trend: Salaries have shifted 75.4% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $133,340.
  • Outlook: With a total local workforce of 1,620 Real Estate Brokers, Illinois presents a moderately sized professional landscape. The Location Quotient of 0.83 suggests a concentration slightly below the national average, indicating that while the profession is present, it is not disproportionately dominant compared to other states. This suggests a stable, albeit not rapidly expanding, demand for skilled brokers within Illinois.
2024 Market Data

Salary Overview

$75,150

The average Real Estate Brokers in Illinois earns-18.1%below the national average.

BreakdownBased on 40h/week
Hourly

$36.1

Weekly

$1,445

Monthly

$6,263

Real Estate Brokers Salary Distribution in Illinois

The salary trajectory for Real Estate Brokers in Illinois typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with a proven track record and extensive market knowledge can command salaries in the upper percentiles. These percentile gaps highlight the substantial career progression and earning potential available to those who build expertise in the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
SDR / BDRLead generation, prospecting, cold calling.10% (Entry)$35,950$17.3
Account ExecutiveClosing deals, managing small-mid market clients.25% (Junior)$56,363$27.1
Senior AEHandling enterprise clients and complex negotiations.50% (Median)$55,290$26.6
Sales ManagerManaging a team of reps, setting quotas & strategy.75% (Senior)$93,938$45.2
VP of SalesRevenue strategy, expansion, C-suite relationships.90% (Expert)$133,340$64.1

Detailed Real Estate Brokers Market Analysis

Relocation Context

Nominal Salary

$75,150

Gross Pay

Real Wage (Purchasing Power)

$81,863

Adjusted for COL (91.8)

The nominal average salary of $75,150 in Illinois needs to be viewed in the context of its Cost of Living Index of 91.8. Since this index is below the national average of 100, the purchasing power of a Real Estate Broker's salary in Illinois is relatively stronger than the raw salary figure might suggest, offering a reasonable standard of living.

Job Market Context

1,620

Total Jobs

0.268

Per 1K Jobs

0.83

Location Quotient

Below Average

Illinois has 0.83x the national average concentration of Real Estate Brokers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.

The Location Quotient of 0.83 indicates that Real Estate Brokers are slightly less concentrated in Illinois compared to the national average. This suggests a job market that is neither oversaturated nor exceptionally scarce, implying a balanced competitive environment for professionals seeking opportunities in this sector within the state.

Nearby Job Markets

Nearby Cities for Real Estate Brokers

CitySalaryDist.
Peoria, IL Real Estate Brokers Salary$71,570↓ 5%43 mi

Comparing salaries near Illinois

Hiring Real Estate Brokerss?

Frequently Asked Questions

How much does a Real Estate Brokers make in Illinois?

The median annual salary for a Real Estate Brokers in Illinois is $75,150. This typically ranges from $35,950 for entry-level positions to $133,340 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Illinois is 18.1% lower than the national median of $91,770.

Is Illinois a lucrative place for Real Estate Brokers?

No, not as lucrative as the national average.Illinois Real Estate Brokers earn an average of $75,150, which is below the national average of $91,770. However, the lower cost of living does provide some compensation for this difference.

Is Illinois a good place to live for Real Estate Brokers?

With a Cost of Living Index of 91.8 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Illinois?

Some top paying nearby cities include Peoria, IL ($71,570) and others.

What is the average salary for a Real Estate Broker in Illinois?

The average annual salary for a Real Estate Broker in Illinois is $75,150.

How does Illinois' cost of living compare to the national average?

Illinois has a Cost of Living Index of 91.8, which is lower than the national average of 100, indicating a more affordable cost of living.

How concentrated is the Real Estate Broker profession in Illinois?

The profession has a Location Quotient of 0.83 in Illinois, meaning it is slightly less concentrated than the national average.

How many Real Estate Brokers are there in Illinois?

There are approximately 1,620 Real Estate Brokers employed in Illinois.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,620 employees in the Illinois area with a job density of 0.268 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Real Estate Brokers • Data source: BLS OEWS 2024 •Jobs in Illinois