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What does a Loan Officers salary really buy you in Minnesota?
Minnesota is 2.3% cheaper than the US averageData: BLS OEWS 2025 + BEA Regional Price Parities 2022 • Updated 2026-05-19
Minnesota's Regional Price Parity (RPP) is 97.7, meaning prices are 2.3% lower the national average. A Loan Officers earning $95,170 in Minnesota has the equivalent purchasing power of $97,410 in an average-cost US state.
Every dollar goes further in low-cost states. Here is how each salary percentile compares after adjusting for Minnesota's cost of living.
| Percentile | Nominal Salary | COL-Adjusted | Difference |
|---|---|---|---|
| 10th Percentile (P10) | $57,670 | $59,027 | +$1,357 |
| 25th Percentile (P25) | $73,240 | $74,964 | +$1,724 |
| Median (P50) | $95,170 | $97,410 | +$2,240 |
| 75th Percentile (P75) | $125,550 | $128,505 | +$2,955 |
| 90th Percentile (P90) | $163,350 | $167,195 | +$3,845 |
Minnesota's cost of living is close to the national average, so $95,170 keeps most of its value at $97,410 in real terms. Location choice here is more about career opportunities than cost arbitrage.
With an RPP of 97.7, Minnesota is within a few percent of the national cost-of-living baseline. Salary adjustment for Loan Officers is therefore minor — what you earn is close to what you'd keep in real purchasing power.
After adjusting for Minnesota's cost of living, $95,170 nominal nets out to $97,410 in real purchasing power — a small 2.4% gain. The state's cost profile is close enough to average that COL alone shouldn't drive location decisions for this Loan Officers.
Ranked on COL-adjusted median pay for Loan Officers, Minnesota places #1 of 51 states — top quartile. Either nominal wages run high, cost of living runs low, or both.
Where does Loan Officers salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
Minnesota ranks #1 out of 51 states for Loan Officers after cost-of-living adjustment.
How much do you actually take home? See Loan Officers take-home pay in Minnesota after taxes →
A Loan Officers in Minnesota earns a median salary of $95,170 per year. After adjusting for Minnesota's cost of living (RPP=97.7), the real purchasing power is $97,410 — a +2.4% difference.
Minnesota's cost of living is 2.3% lower than the national average according to the BEA Regional Price Parities (2022). The RPP index for Minnesota is 97.7 (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 Minnesota: $95,170 x (100 / 97.7) = $97,410. This represents what the salary would be worth in a state with average living costs.
From a purchasing power perspective, yes. A Loan Officers in Minnesota enjoys 2.4% more buying power than the nominal salary suggests, because living costs are below the national average. However, other factors like job availability, career growth, and quality of life also matter.
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