Loan Officers pay range in Rapid City
New workers and the lowest-paid 10% earn about $56,810 a year or less, while the top 10% make $122,810 or more. The middle half of loan officers in Rapid City earn between $60,950 and $98,000.
- $57K10th
- $61K25th
- $78KMedian
- $98K75th
- $123K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $82,890 | $6,908 | $39.85 |
| Median | $78,470 | $6,539 | $37.73 |
| Entry level (25th percentile) | $60,950 | $5,079 | $29.30 |
| Experienced (75th percentile) | $98,000 | $8,167 | $47.12 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Rapid City vs. South Dakota and the U.S.
Loan officers in Rapid City earn 4% less than the South Dakota average ($85,970) and 6% less than the U.S. average ($87,790). At the median the gap is +2% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Rapid City | $82,890 | $78,470 | $56,810 | $122,810 | 220 |
| South Dakota | $85,970 | $79,920 | $58,480 | $125,080 | 1,820 |
| 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 Rapid City
On the average salary of $82,890, a single filer in Rapid City takes home about $67,143 a year, or $5,595 a month and $2,582 every two weeks. Taxes take 19% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and no state income tax.
Is Rapid City a good place for loan officers? Pay vs. cost of living
Prices in the Rapid City area are 11% below the U.S. average (BEA price parity 89.2), so the average $82,890 buys what about $92,968 would buy in a typical U.S. metro. This job pays 1.7 times the median wage of all jobs in Rapid City ($46,270). A typical home costs $374,117, or 4.5 years of this average salary before tax.
Loan Officers salary in other South Dakota cities
Rapid City ranks 2nd of 2 South Dakota metro areas for this job; Sioux Falls pays the most ($90,800).
- Sioux Falls$90,800
- Rapid City$82,890
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 Rapid City: questions
How much do loan officers make an hour in Rapid City?
$39.85 an hour on average, and $37.73 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Rapid City?
The lowest-paid 10% earn about $56,810 a year and the 25th percentile is $60,950, a fair guide to starting pay.
What is the loan officers take-home pay in Rapid City?
About $67,143 a year ($5,595 a month) for a single filer on the average salary of $82,890. South Dakota has no state income tax.
Do loan officers earn more in Rapid City than elsewhere?
The average here is 6% 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 Rapid City, SD (39660). Relative standard error of the mean wage: 2.5%.
- 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 no state income tax.
- Job concentration: location quotient 1.67, this job is 1.7 times as concentrated as in the U.S. overall.
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