Best US States for Loan Officers
All 50 states + DC ranked by Loan Officer salary. State tax structure noted for take-home math.
| # | State | Estimated salary | Cost mult. | State tax |
|---|---|---|---|---|
| 1 | New York | $80,300 | 1.15× | ~5% effective |
| 2 | New Jersey | $79,500 | 1.13× | ~5% effective |
| 3 | Massachusetts | $79,100 | 1.12× | ~5% effective |
| 4 | Delaware | $77,700 | 1.00× | ~5% effective |
| 5 | District of Columbia | $77,700 | 1.20× | ~5% effective |
| 6 | Florida | $77,700 | 1.00× | No state tax |
| 7 | Illinois | $77,700 | 1.00× | ~5% effective |
| 8 | California | $76,900 | 1.18× | ~5% effective |
| 9 | Hawaii | $75,800 | 1.15× | ~5% effective |
| 10 | North Carolina | $75,100 | 0.94× | ~5% effective |
| # | State | Salary | After state tax (rough) |
|---|---|---|---|
| 1 | New York | $80,300 | $58,900 |
| 2 | New Jersey | $79,500 | $58,313 |
| 3 | Massachusetts | $79,100 | $58,020 |
| 4 | Delaware | $77,700 | $56,993 |
| 5 | District of Columbia | $77,700 | $56,993 |
| 6 | Florida | $77,700 | $60,878 |
| 7 | Illinois | $77,700 | $56,993 |
| 8 | California | $76,900 | $56,406 |
| 9 | Hawaii | $75,800 | $55,599 |
| 10 | North Carolina | $75,100 | $55,086 |
| 11 | Alaska | $75,000 | $58,763 |
| 12 | Minnesota | $74,200 | $54,426 |
| 13 | Connecticut | $73,900 | $54,206 |
| 14 | Washington | $73,900 | $57,901 |
| 15 | Missouri | $73,500 | $53,912 |
| 16 | Maryland | $73,100 | $53,619 |
| 17 | Pennsylvania | $72,900 | $53,472 |
| 18 | Utah | $72,900 | $53,472 |
| 19 | Colorado | $71,900 | $52,739 |
| 20 | New Hampshire | $71,900 | $56,334 |
| 21 | Oregon | $71,900 | $52,739 |
| 22 | Georgia | $71,800 | $52,665 |
| 23 | Michigan | $71,300 | $52,299 |
| 24 | Wisconsin | $71,300 | $52,299 |
| 25 | Rhode Island | $71,200 | $52,225 |
| 26 | Virginia | $71,200 | $52,225 |
| 27 | Nevada | $70,800 | $55,472 |
| 28 | Indiana | $70,500 | $51,712 |
| 29 | Nebraska | $70,500 | $51,712 |
| 30 | Ohio | $70,500 | $51,712 |
| 31 | Arizona | $70,000 | $51,345 |
| 32 | Vermont | $69,600 | $51,052 |
| 33 | Alabama | $69,300 | $50,832 |
| 34 | Maine | $68,800 | $50,465 |
| 35 | Texas | $68,800 | $53,905 |
| 36 | Idaho | $67,300 | $49,365 |
| 37 | Montana | $67,300 | $49,365 |
| 38 | Wyoming | $67,300 | $52,730 |
| 39 | New Mexico | $66,900 | $49,071 |
| 40 | North Dakota | $66,900 | $49,071 |
| 41 | South Carolina | $66,900 | $49,071 |
| 42 | Tennessee | $66,900 | $52,416 |
| 43 | Kansas | $66,500 | $48,778 |
| 44 | South Dakota | $66,500 | $52,103 |
| 45 | Iowa | $66,200 | $48,558 |
| 46 | Louisiana | $66,200 | $48,558 |
| 47 | Kentucky | $65,400 | $47,971 |
| 48 | Oklahoma | $65,400 | $47,971 |
| 49 | Arkansas | $64,600 | $47,384 |
| 50 | West Virginia | $64,600 | $47,384 |
| 51 | Mississippi | $63,800 | $46,797 |
What moves with you and what does not
The ranking below understates how sticky this career is geographically. Loan Officer requires Mortgage Loan Originator (MLO) license via NMLS required for mortgage lending, and moving states can mean re-qualifying rather than simply relocating. That friction is why licensed occupations show more persistent pay differences between states than unlicensed ones — the labor supply cannot equalize quickly.
Tax and what the numbers are worth
Income tax reshuffles this ranking. Florida appears in the top ten and levies no state income tax, so the gross figures understate take-home there by roughly 3–6% relative to a taxing state at the same salary. Against a high-tax state, that is worth several thousand dollars a year at this occupation's median of $70,000.
Treat a no-income-tax state as a shift in where the tax lands rather than a removal of it — property tax rates in those states tend to run above the national average, which matters once you own rather than rent.
The spread from Mississippi ($63,800) to New York ($80,300) is 26%. Cost of living explains most of it — a state paying 25% above the national median for this role usually costs proportionally more to live in, which is why cost-adjusted rankings look different from nominal ones.
Where the field is heading
Nationally, Loan Officer employment is projected to grow — 2% through 2034, with roughly 20,300 openings a year counting replacements. Growth is rarely evenly distributed: states with the industry concentration driving that growth will feel it first, and the ranking above is a reasonable proxy for where.
Salaries are modelled from BLS national medians adjusted for local price level at a wage elasticity below 1 — pay rises with local costs but not proportionally. See our methodology.