Loan Officer Salary in Minnesota
Loan Officers in Minnesota earn an average of $74,037 per year across 1 metro area. This is +5.8% higher than the national average.
Average Salary
$74,037
per year
Hourly Rate
$35.59
per hour
vs National
+5.8%
$69,990 national
Salary Range
$48,415
to $106,563
Cost of Living Adjusted Salary
Nominal Salary
$74,037
Cost of Living Index
99
100 = national average
Adjusted Salary
$74,785
purchasing power equivalent
After adjusting for Minnesota's cost of living (below average), a Loan Officer's salary of $74,037 has the purchasing power of $74,785 in an average-cost area.
Loan Officer Salary by City in Minnesota
| City | Median Salary | Hourly Rate | Entry Level (P10) | Senior (P90) | Employment |
|---|---|---|---|---|---|
| Minneapolis, MN | $74,037 | $35.59/hr | $48,415 | $106,563 | 314 |
Source: Bureau of Labor Statistics OEWS Survey, 2026. Sorted by median salary (highest first).
Minnesota vs National Average
Loan Officer Salary Comparison
Employment in Minnesota
There are approximately 314 Loan Officers employed across 1 metro area in Minnesota.
Key Industries: Healthcare, Finance, Manufacturing
State Income Tax: 5.35% - 9.85%
Loan Officer Salary Range in Minnesota
Entry Level (10th Percentile)
$48,415
Starting salary for new Loan Officers
Median (50th Percentile)
$74,037
Mid-career Loan Officer salary
Senior (90th Percentile)
$106,563
Top earners in the field
Related Occupations in Minnesota
Loan Officer Salary in Neighboring States
Compare Loan Officer salaries in Minnesota with nearby states to find the best opportunities.
More Minnesota Data
Frequently Asked Questions
What is the average Loan Officer salary in Minnesota?
The average Loan Officer salary in Minnesota is $74,037 per year ($35.59/hour) based on 2026 data across 1 metro areas. This is 5.8% above the national average of $69,990.
What is the highest paying city for Loan Officers in Minnesota?
Minneapolis, MN is the highest paying city for Loan Officers in Minnesota, with a median salary of $74,037 per year.
What is the salary range for Loan Officers in Minnesota?
Loan Officer salaries in Minnesota range from $48,415 (entry-level, 10th percentile) to $106,563 (experienced, 90th percentile). The median salary is $74,037 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 Minnesota. 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.