Loan Officers pay range in Detroit
New workers and the lowest-paid 10% earn about $36,520 a year or less, while the top 10% make $135,700 or more. The middle half of loan officers in Detroit earn between $50,310 and $105,620.
- $37K10th
- $50K25th
- $76KMedian
- $106K75th
- $136K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $85,940 | $7,162 | $41.32 |
| Median | $76,260 | $6,355 | $36.66 |
| Entry level (25th percentile) | $50,310 | $4,192 | $24.19 |
| Experienced (75th percentile) | $105,620 | $8,802 | $50.78 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Detroit vs. Michigan and the U.S.
Loan officers in Detroit earn about the same as the Michigan average ($83,990) and about the same as the U.S. average ($87,790). At the median the gap is -1% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Detroit | $85,940 | $76,260 | $36,520 | $135,700 | 7,200 |
| Michigan | $83,990 | $74,470 | $36,830 | $135,700 | 11,340 |
| United States | $87,790 | $76,690 | $39,430 | $153,180 | 274,330 |
State and U.S. rows: BLS statewide and national estimates, May 2025, which include rural areas.
Loan Officers salary after taxes in Detroit
On the average salary of $85,940, a single filer in Detroit takes home about $63,959 a year, or $5,330 a month and $2,460 every two weeks. Taxes take 26% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Detroit's local income tax (2.4%).
Is Detroit a good place for loan officers? Pay vs. cost of living
Prices in the Detroit area are in line with the U.S. average (BEA price parity 100.3), so the average $85,940 buys what about $85,685 would buy in a typical U.S. metro. This job pays 1.5 times the median wage of all jobs in Detroit ($52,080). A typical home costs $269,080, or 3.1 years of this average salary before tax.
Loan Officers salary in other Michigan cities
Detroit ranks 3rd of 14 Michigan metro areas for this job; Kalamazoo pays the most ($89,060).
- Kalamazoo$89,060
- Lansing$88,080
- Detroit$85,940
- Grand Rapids$82,320
- Ann Arbor$81,990
- Muskegon$75,980
- Niles$75,470
- Traverse City$74,970
- Jackson$74,700
- Flint$73,450
Highest-paying cities for loan officers
Elmira, NY pays this job the most of the metro areas we cover ($129,370).
- Elmira, NY$129,370
- New York, NY$121,180
- Boston, MA$120,300
- San Francisco, CA$116,480
- Norwich, CT$116,460
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Loan Officers salary in Detroit: questions
How much do loan officers make an hour in Detroit?
$41.32 an hour on average, and $36.66 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Detroit?
The lowest-paid 10% earn about $36,520 a year and the 25th percentile is $50,310, a fair guide to starting pay.
What is the loan officers take-home pay in Detroit?
About $63,959 a year ($5,330 a month) for a single filer on the average salary of $85,940. Includes Detroit's local income tax (2.4%).
Do loan officers earn more in Detroit than elsewhere?
The average here is about the same as the U.S. average for this job ($87,790).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 13-2072; area Detroit-Warren-Dearborn, MI (19820). Relative standard error of the mean wage: 3.5%.
- U.S. and statewide figures: BLS OEWS national and state estimates, May 2025, every employer including rural areas.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Detroit's local income tax (2.4%).
- Job concentration: location quotient 2.14, this job is 2.1 times as concentrated as in the U.S. overall.
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