Loan Officer Salary in Minneapolis, MN
Loan Officers in the Minneapolis-St. Paul-Bloomington, MN-WI metro area earn a median $102,200 a year — 33% more than the national median. After 2026 taxes, that is $75,301 take-home, or $6,275 a month.
Take-home pay calculator
Pre-filled with the median loan officer salary in Minneapolis, MN. Enter your own offer to see your paycheck.
- Federal income tax$13,654
- Social Security (6.2%)$6,336
- Medicare (1.45%)$1,482
- Minnesota income tax$5,426
- Take-home pay$75,301
Marginal rate: 22% federal + 6.80% state
The Minneapolis-St. Paul-Bloomington, MN-WI metro spans Minnesota, Wisconsin. Pick the state you live in — state income tax follows your residence.
Got an offer somewhere else? Compare it with this one after taxes and rent →
Loan Officer pay by experience in Minneapolis, MN
| Percentile | Salary | Hourly | Take-home / yr | Per month |
|---|---|---|---|---|
| 10th percentile (entry level) | $61,360 | $29.50 | $48,834 | $4,069 |
| 25th percentile | $77,410 | $37.22 | $59,547 | $4,962 |
| Median (50th) | $102,200 | $49.13 | $75,301 | $6,275 |
| 75th percentile | $128,180 | $61.63 | $91,648 | $7,637 |
| 90th percentile (top earners) | $190,790 | $91.73 | $129,917 | $10,826 |
Wages: BLS Occupational Employment and Wage Statistics, May 2025. Take-home: single filer, Minnesota resident, 2026 tax rules.
What $102,200 buys in Minneapolis, MN
Prices in Minneapolis, MN are 4.8% higher than the U.S. average (housing costs are 1.12× the national average). Adjusted for local prices, a median loan officer's $75,301 take-home pay has the buying power of $71,837 in a typical American city.
Rents: HUD Fair Market Rents, FY2026 (40th-percentile gross rent incl. utilities). Price levels: BEA Regional Price Parities, 2024.
Loan Officer jobs are about as common in Minneapolis, MN as in the U.S. overall (location quotient 1.14).
Best-paying cities for loan officers, adjusted for cost of living
Minneapolis, MN ranks #1 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 |
*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 Minneapolis, MN?
The median loan officer salary in the Minneapolis-St. Paul-Bloomington, MN-WI metro area is $102,200 a year, or about $49.13 an hour, according to the Bureau of Labor Statistics (May 2025). The middle half earn between $77,410 and $128,180.
What is a loan officer’s take-home pay in Minneapolis, MN?
On the median $102,200 salary, a single filer living in Minnesota takes home about $75,301 a year ($6,275 a month) after federal tax, Social Security, Medicare and $5,426 in Minnesota taxes in 2026.
Is Minneapolis, MN a good place to work as a loan officer?
Pay here is 33% above the national median of $76,690. Local prices are 4.8% above the U.S. average, so the take-home pay buys what $71,837 would in a typical U.S. city. Minneapolis, MN ranks #1 of 21 metro areas for cost-of-living-adjusted pay in this job.
Can a loan officer afford rent in Minneapolis, MN?
HUD’s fair market rent for a one-bedroom in Minneapolis, MN is $1,396 a month ($1,700 for two bedrooms) — 22% of a median loan officer’s monthly take-home pay. Financial planners usually suggest keeping rent under about 30%.
Related jobs in Minneapolis, MN
- Personal Financial Advisor — $103,410
- Financial and Investment Analyst — $103,350
- Management Analyst — $101,560
- Market Research Analyst and Marketing Specialist — $97,910
- Project Management Specialist — $97,860
- Compliance Officer — $91,150
- Accountant and Auditor — $86,500
- Logistician — $83,990
- Buyer and Purchasing Agent — $82,710
- Cost Estimator — $82,440
- Human Resources Specialist — $80,330
- Business Operations Specialists, All Other — $79,690