Loan Officers Salary in Grand Rapids, MI

BLS Occupational Employment & Wage Statistics • May 2025 • Grand Rapids-Wyoming-Kentwood, MI

Median annual salary $73,490 -0.9% vs national
Median hourly $35.33
10th percentile $39,900
90th percentile $155,340
Employed locally 890
National median $74,180

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Loan Officers
in
Grand Rapids, MI
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    Salary percentile breakdown

    10th
    $39,900
    25th
    $51,520
    50th (median)
    $73,490
    75th
    $103,070
    90th
    $155,340

    Grand Rapids economic context

    Unemployment rate 4.00% 2024 annual avg • BLS LAUS
    Median household income $80,296 2023 • Census ACS
    Loan Officers salary vs area income 92% Median Loan Officers salary is 8% below the area median household income

    Top-paying metros for Loan Officers

    Metro areaMedian salary
    Elmira, NY $106,430
    New York-Newark-Jersey City, NY-NJ $102,540
    District of Columbia $102,200
    New York $98,940
    Northern Vermont nonmetropolitan area $97,410
    Des Moines-West Des Moines, IA $97,000

    Nearby metros — Loan Officers salary comparison

    Metro areaMedian salary
    Elmira, NY $106,430
    Minneapolis-St. Paul-Bloomington, MN-WI $91,900
    Minnesota $84,480
    Southeast Minnesota nonmetropolitan area $81,840
    Milwaukee-Waukesha, WI $81,680
    Wilmington, NC $81,540

    Related occupations in Grand Rapids, MI

    OccupationMedian salary
    Accountants and Auditors $76,030
    Human Resources Specialists $63,840
    Market Research Analysts and Marketing Specialists $63,510
    Project Management Specialists $85,550
    Buyers and Purchasing Agents $69,000
    Business Operations Specialists, All Other $72,650

    Frequently asked questions

    How much do Loan Officers make per hour in Grand Rapids?

    The median hourly wage for Loan Officers in Grand Rapids, MI is $35.33, based on BLS OEWS 2025 data. Top earners (90th percentile) make $66.41 or more per hour.

    Is Grand Rapids above or below average for Loan Officers salaries?

    The median Loan Officers salary in Grand Rapids, MI is 0.9% below the national median of $74,180. The national figure is from BLS OEWS 2025 data covering all US metropolitan areas.

    What is the entry-level salary for Loan Officers in Grand Rapids?

    Entry-level Loan Officers (10th percentile) earn around $39,900 per year in Grand Rapids, MI. The 25th percentile — typically workers with 1–3 years of experience — earn approximately $51,520.