What does a Loan Officers salary really buy you in Illinois?
Illinois is near the US average cost of livingData: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31
Illinois's Regional Price Parity (RPP) is 101.3, meaning prices are 1.3% higher the national average. A Loan Officers earning $75,960 in Illinois has the equivalent purchasing power of $74,985 in an average-cost US state.
Every dollar goes further in low-cost states. Here is how each salary percentile compares after adjusting for Illinois's cost of living.
| Percentile | Nominal Salary | COL-Adjusted | Difference |
|---|---|---|---|
| 10th Percentile (P10) | $47,170 | $46,564 | $-605 |
| 25th Percentile (P25) | $56,180 | $55,459 | $-720 |
| Median (P50) | $75,960 | $74,985 | $-974 |
| 75th Percentile (P75) | $102,480 | $101,164 | $-1,315 |
| 90th Percentile (P90) | $137,160 | $135,399 | $-1,760 |
Illinois's cost of living is close to the national average, so $75,960 keeps most of its value at $74,985 in real terms. Location choice here is more about career opportunities than cost arbitrage.
Where does Loan Officers salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
Illinois ranks #26 out of 50 states for Loan Officers after cost-of-living adjustment.
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A Loan Officers in Illinois earns a median salary of $75,960 per year. After adjusting for Illinois's cost of living (RPP=101.3), the real purchasing power is $74,985 — a -1.3% difference.
Illinois's cost of living is 1.3% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Illinois is 101.3 (US average = 100).
Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.
The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Loan Officers in Illinois: $75,960 x (100 / 101.3) = $74,985. This represents what the salary would be worth in a state with average living costs.