Business & Finance Akron, OH Pop. 190,469

Loan Officer Salary in Akron, Ohio

The median loan officer salary in Akron, OH is $55,222 per year, which is 16% below the national median and 6.7% below the Ohio state average.

City Median
$55,222
vs State Avg
$-3,944
vs National
$-10,518
Cost of Living
84%

Loan Officer Salary in Akron by Experience

In Akron, an entry-level loan officer earns around $31,920, while experienced professionals earn up to $109,200 per year. The local cost of living index is 84% of the national average.

Entry Level (0-2 yrs)
$31,920
$-6,080 vs national
Mid Level (3-7 yrs)
$55,440
$-10,560 vs national
Senior Level (8+ yrs)
$109,200
$-20,800 vs national

Salary Percentiles in Akron, OH

Percentile Akron
10th Percentile $29,568
25th Percentile $38,136
Median (50th) $55,222
75th Percentile $84,000
90th Percentile $129,192

Loan Officer Salary in Other Ohio Cities

Columbus, OH
$62,453
Pop. 905,748
Cincinnati, OH
$59,166
Pop. 309,317
Cleveland, OH
$56,536
Pop. 372,624
Toledo, OH
$53,907
Pop. 270,871

How to Become a Loan Officer in Akron

Education

Most loan officer positions require a bachelor's degree. Akron and the surrounding Ohio area have institutions offering relevant programs.

Key Skills

Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software

Job Outlook

Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Akron may vary based on local industry and population growth.

Find Loan Officer Jobs in Akron

Browse open loan officer positions in Akron, OH:

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Frequently Asked Questions: Loan Officer Salary in Akron

How much does a Loan Officer make in Akron, OH? ▼
The median loan officer salary in Akron, Ohio is $55,222 per year, which is 16% below the national median of $65,740. Salaries range from $29,568 (10th percentile) to $129,192 (90th percentile).
How much does a Loan Officer make per hour in Akron? ▼
Based on the median annual salary of $55,222, a loan officer in Akron earns approximately $27 per hour assuming a standard 2,080-hour work year.
How does Akron compare to the Ohio state average for loan officer pay? ▼
Akron's median loan officer salary of $55,222 is 6.7% below the Ohio state average of $59,166. The local cost of living index is 84% of the national average.
What is the cost of living in Akron, OH? ▼
Akron has a cost of living index of 84% compared to the national average. This means a loan officer salary of $55,222 in Akron has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Akron? ▼
Most loan officer positions in Akron require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.