Loan Officer Salary in Michigan
Loan Officers in Michigan earn an average of $69,088 per year across 1 metro area. This is +1.3% lower than the national average.
Average Salary
$69,088
per year
Hourly Rate
$33.22
per hour
vs National
-1.3%
$69,990 national
Salary Range
$46,076
to $100,470
Cost of Living Adjusted Salary
Nominal Salary
$69,088
Cost of Living Index
91
100 = national average
Adjusted Salary
$75,921
purchasing power equivalent
After adjusting for Michigan's cost of living (below average), a Loan Officer's salary of $69,088 has the purchasing power of $75,921 in an average-cost area.
Loan Officer Salary by City in Michigan
| City | Median Salary | Hourly Rate | Entry Level (P10) | Senior (P90) | Employment |
|---|---|---|---|---|---|
| Detroit, MI | $69,088 | $33.22/hr | $46,076 | $100,470 | 293 |
Source: Bureau of Labor Statistics OEWS Survey, 2026. Sorted by median salary (highest first).
Michigan vs National Average
Loan Officer Salary Comparison
Employment in Michigan
There are approximately 293 Loan Officers employed across 1 metro area in Michigan.
Key Industries: Automotive, Manufacturing, Healthcare
State Income Tax: 4.25% flat rate
Loan Officer Salary Range in Michigan
Entry Level (10th Percentile)
$46,076
Starting salary for new Loan Officers
Median (50th Percentile)
$69,088
Mid-career Loan Officer salary
Senior (90th Percentile)
$100,470
Top earners in the field
Related Occupations in Michigan
Loan Officer Salary in Neighboring States
Compare Loan Officer salaries in Michigan with nearby states to find the best opportunities.
More Michigan Data
Frequently Asked Questions
What is the average Loan Officer salary in Michigan?
The average Loan Officer salary in Michigan is $69,088 per year ($33.22/hour) based on 2026 data across 1 metro areas. This is 1.3% below the national average of $69,990.
What is the highest paying city for Loan Officers in Michigan?
Detroit, MI is the highest paying city for Loan Officers in Michigan, with a median salary of $69,088 per year.
What is the salary range for Loan Officers in Michigan?
Loan Officer salaries in Michigan range from $46,076 (entry-level, 10th percentile) to $100,470 (experienced, 90th percentile). The median salary is $69,088 per year.
About This Data
Salary data is sourced from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey. State-level averages are calculated from metro area data within Michigan. Figures represent 2026 estimates and may not reflect all employers or self-employed workers. Cost of living adjustments use regional indices to provide purchasing power context.