Last updated: 2025 BLS data · Page refreshed:
Michigan employs 11,340 Loan Officers professionals, above the national average concentration.
Data: BLS OEWS 2025 • Michigan employment outlook • Updated 2026-05-19
The location quotient (LQ) of 2.11 indicates that Michigan has a higher-than-average concentration of Loan Officers professionals. This means the job is in high demand relative to other states, suggesting strong local job market opportunities.
Note: Location Quotient (LQ) is the ratio of the percentage of workers in an occupation in a given area to the percentage in that occupation nationwide. An LQ > 1.0 means above-average concentration; < 1.0 means below-average.
The average annual salary for a Loan Officers in Michigan is $83,990. For a detailed breakdown by percentile, entry-level, median, and senior salaries, see the comprehensive salary guide below.
Michigan employs approximately 11,340 Loan Officers professionals (2025 BLS data). This ranks Michigan among the top states nationwide.
Yes — Michigan has above-average concentration of Loan Officers jobs (LQ: 2.11). A Location Quotient above 1.0 indicates higher-than-average demand.
The average (mean) salary for Loan Officers in Michigan is $83990/year. See our detailed salary page for percentile breakdowns.
Location Quotient measures how concentrated an occupation is in a state compared to the national average. LQ > 1.0 means the state has more of that job proportionally. LQ > 1.2 indicates strong demand.
The top state for Loan Officers employment is California with 25,790 jobs.
Explore cost of living, median household income, and demographics for Michigan's largest cities.
Compare tuition, admissions, and graduate outcomes at Michigan's leading institutions.
Compare Loan Officers labor-market data (jobs, location quotient, salary) across the top-employing states.
Drill deeper into Loan Officers pay, hiring, and education data for Michigan.
Employment and location quotient data sourced from the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) 2025. This data reflects total employment, jobs per 1,000 workers, location quotient, and average salary for Loan Officers (SOC 132072) in Michigan.