Loan Officer Salary in Detroit, MI
Loan Officers in the Detroit-Warren-Dearborn, MI metro area earn a median $76,260 a year — 1% less than the national median. After 2026 taxes, that is $59,489 take-home, or $4,957 a month.
Take-home pay calculator
Pre-filled with the median loan officer salary in Detroit, MI. Enter your own offer to see your paycheck.
- Federal income tax$7,947
- Social Security (6.2%)$4,728
- Medicare (1.45%)$1,106
- Michigan income tax$2,990
- Take-home pay$59,489
Marginal rate: 22% federal + 4.25% state
Living in Detroit? City residents also pay Detroit’s city income tax — about $1,830 a year on this salary — which lowers take-home pay to $57,658 ($4,805 a month). Choose “Detroit” under City income tax in the calculator. Suburban residents usually don’t pay it.
Got an offer somewhere else? Compare it with this one after taxes and rent →
Loan Officer pay by experience in Detroit, MI
| Percentile | Salary | Hourly | Take-home / yr | Per month |
|---|---|---|---|---|
| 10th percentile (entry level) | $36,520 | $17.56 | $30,222 | $2,519 |
| 25th percentile | $50,310 | $24.19 | $40,717 | $3,393 |
| Median (50th) | $76,260 | $36.66 | $59,489 | $4,957 |
| 75th percentile | $105,620 | $50.78 | $78,896 | $6,575 |
| 90th percentile (top earners) | $135,700 | $65.24 | $98,500 | $8,208 |
Wages: BLS Occupational Employment and Wage Statistics, May 2025. Take-home: single filer, Michigan resident, 2026 tax rules.
What $76,260 buys in Detroit, MI
Prices in Detroit, MI are 0.3% higher than the U.S. average (housing costs are 5% below the national average). Adjusted for local prices, a median loan officer's $59,489 take-home pay has the buying power of $59,312 in a typical American city.
Rents: HUD Fair Market Rents, FY2026 (40th-percentile gross rent incl. utilities). Price levels: BEA Regional Price Parities, 2024.
Detroit, MI has 2.1× the national concentration of loan officer jobs — a strong local market for this occupation.
Best-paying cities for loan officers, adjusted for cost of living
Detroit, MI ranks #12 of 21 metro areas once taxes and local prices are taken into account.
| # | Metro area | Median salary | Take-home | Real value* |
|---|---|---|---|---|
| 1 | Minneapolis, MN | $102,200 | $75,301 | $71,837 |
| 2 | Boston, MA | $103,400 | $76,622 | $70,772 |
| 3 | Columbus, OH | $82,160 | $65,153 | $68,245 |
| 4 | New York, NY | $101,570 | $75,332 | $66,924 |
| 5 | Washington, DC | $97,800 | $72,288 | $66,390 |
| 6 | Portland, OR | $96,100 | $68,857 | $65,316 |
| 7 | San Francisco, CA | $103,000 | $74,602 | $64,527 |
| 8 | Charlotte, NC | $78,200 | $61,232 | $62,900 |
| 12 | Detroit, MI | $76,260 | $59,489 | $59,312 |
*Take-home pay divided by the BEA price level, so every city is measured in U.S.-average dollars. See all 21 metros →
About the job: loan officers
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods.
- Typical education
- Bachelor's degree
- Work experience
- Less than 5 years
- On-the-job training
- Moderate-term on-the-job training
- Job outlook, 2025–35
- +1.1% (slower than average)
Source: BLS Standard Occupational Classification and Employment Projections, 2025–35.
Frequently asked questions
How much does a loan officer make in Detroit, MI?
The median loan officer salary in the Detroit-Warren-Dearborn, MI metro area is $76,260 a year, or about $36.66 an hour, according to the Bureau of Labor Statistics (May 2025). The middle half earn between $50,310 and $105,620.
What is a loan officer’s take-home pay in Detroit, MI?
On the median $76,260 salary, a single filer living in Michigan takes home about $59,489 a year ($4,957 a month) after federal tax, Social Security, Medicare and $2,990 in Michigan taxes in 2026.
Is Detroit, MI a good place to work as a loan officer?
Pay here is 1% below the national median of $76,690. Local prices are 0.3% above the U.S. average, so the take-home pay buys what $59,312 would in a typical U.S. city. Detroit, MI ranks #12 of 21 metro areas for cost-of-living-adjusted pay in this job.
Can a loan officer afford rent in Detroit, MI?
HUD’s fair market rent for a one-bedroom in Detroit, MI is $1,128 a month ($1,413 for two bedrooms) — 23% of a median loan officer’s monthly take-home pay. Financial planners usually suggest keeping rent under about 30%.
Related jobs in Detroit, MI
- Project Management Specialist — $105,350
- Financial and Investment Analyst — $101,550
- Management Analyst — $100,570
- Logistician — $93,130
- Business Operations Specialists, All Other — $84,970
- Compliance Officer — $81,250
- Accountant and Auditor — $80,650
- Buyer and Purchasing Agent — $80,300
- Cost Estimator — $80,200
- Claims Adjusters, Examiners, and Investigators — $79,060
- Market Research Analyst and Marketing Specialist — $77,100
- Personal Financial Advisor — $76,830