Loan Officer Salary in Detroit, MI
Bureau of Labor Statistics OEWS Survey
Median Annual Salary
$69,088
Hourly Rate
$33.22
/hour
Jobs in Area
293
employed
Loan Officer Salary Range in Detroit, MI
Annual Salary Range
$46k
10th percentile
$55k
25th
$82k
75th
$100k
90th percentile
Salary Breakdown by Percentile
| Percentile | Annual Salary | Hourly Rate |
|---|---|---|
| 10th Percentile (Entry Level) | $46,076 | $22.15 |
| 25th Percentile | $55,269 | $26.57 |
| Median (50th Percentile) | $69,088 | $33.22 |
| 75th Percentile | $81,724 | $39.29 |
| 90th Percentile (Top Earners) | $100,470 | $48.30 |
| Average (Mean) | $73,436 | $35.31 |
Frequently Asked Questions
The average Loan Officer salary in Detroit, MI is $69,088 per year or $33.22 per hour as of 2024. This is based on data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics survey.
About This Data
Salary data is sourced from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey for 2024. The geographic area covered is the Detroit-Warren-Dearborn Metropolitan Statistical Area.
Last updated: 1/23/2026
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How Detroit, MI Compares
vs National Average
$69,990
vs Michigan Average
$70,011
Cost-of-Living Adjusted
$74,448
Cost of living in Detroit, MI is 7.2% below the national average.
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