Loan Officers pay range in Traverse City
New workers and the lowest-paid 10% earn about $41,050 a year or less, while the top 10% make $118,390 or more. The middle half of loan officers in Traverse City earn between $51,560 and $92,700.
- $41K10th
- $52K25th
- $64KMedian
- $93K75th
- $118K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $74,970 | $6,248 | $36.04 |
| Median | $63,820 | $5,318 | $30.68 |
| Entry level (25th percentile) | $51,560 | $4,297 | $24.79 |
| Experienced (75th percentile) | $92,700 | $7,725 | $44.57 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Traverse City vs. Michigan and the U.S.
Loan officers in Traverse City earn 11% less than the Michigan average ($83,990) and 15% less than the U.S. average ($87,790). At the median the gap is -17% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Traverse City | $74,970 | $63,820 | $41,050 | $118,390 | 130 |
| 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 Traverse City
On the average salary of $74,970, a single filer in Traverse City takes home about $58,632 a year, or $4,886 a month and $2,255 every two weeks. Taxes take 22% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules).
Is Traverse City a good place for loan officers? Pay vs. cost of living
Prices in the Traverse City area are 7% below the U.S. average (BEA price parity 93.4), so the average $74,970 buys what about $80,292 would buy in a typical U.S. metro. This job pays 1.3 times the median wage of all jobs in Traverse City ($47,470). A typical home costs $421,806, or 5.6 years of this average salary before tax.
Loan Officers salary in other Michigan cities
Traverse City ranks 8th of 14 Michigan metro areas for this job; Kalamazoo pays the most ($89,060).
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 Traverse City: questions
How much do loan officers make an hour in Traverse City?
$36.04 an hour on average, and $30.68 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Traverse City?
The lowest-paid 10% earn about $41,050 a year and the 25th percentile is $51,560, a fair guide to starting pay.
What is the loan officers take-home pay in Traverse City?
About $58,632 a year ($4,886 a month) for a single filer on the average salary of $74,970.
Do loan officers earn more in Traverse City than elsewhere?
The average here is 15% less than 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 Traverse City, MI (45900). Relative standard error of the mean wage: 2.7%.
- 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).
- Job concentration: location quotient 1.11, this job is about as common as in the U.S. overall.
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