There are currently an estimated 318,600 loan officers in the United States. The loan officer job market is expected to grow by 11.4% between 2016 and 2026.
How employable are loan officers?
CareerExplorer rates loan officers with a B- employability rating, meaning this career should provide good employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 41,800 loan officers. That number is based on 36,300 additional loan officers, and the retirement of 5,500 existing loan officers.
What’s the supply of loan officers?
The loan officer industry is concentrated in California, Texas, Florida
Loan Officer job market by state
State Name | Employed Loan Officers |
---|---|
California | 39,520 |
Texas | 20,810 |
Florida | 19,900 |
North Carolina | 13,100 |
New York | 12,670 |
Illinois | 12,580 |
Ohio | 12,130 |
Pennsylvania | 10,990 |
Virginia | 9,290 |
Arizona | 8,480 |
Minnesota | 8,130 |
Missouri | 7,590 |
Wisconsin | 7,350 |
Georgia | 7,050 |
Washington | 6,960 |
New Jersey | 6,750 |
Tennessee | 5,890 |
Massachusetts | 5,640 |
Colorado | 5,560 |
Kentucky | 5,070 |
Indiana | 5,010 |
Maryland | 4,860 |
Iowa | 4,450 |
Utah | 4,410 |
Oklahoma | 4,240 |
Oregon | 4,200 |
Kansas | 4,100 |
South Carolina | 3,930 |
Alabama | 3,850 |
Louisiana | 3,800 |
Nebraska | 3,010 |
Nevada | 2,790 |
Idaho | 2,580 |
Connecticut | 2,440 |
Arkansas | 2,400 |
Mississippi | 2,130 |
Puerto Rico | 1,600 |
South Dakota | 1,570 |
Rhode Island | 1,560 |
Montana | 1,370 |
New Mexico | 1,290 |
North Dakota | 1,280 |
Hawaii | 1,260 |
New Hampshire | 1,120 |
Maine | 1,120 |
Alaska | 850 |
West Virginia | 850 |
Wyoming | 760 |
Delaware | 760 |
Vermont | 520 |
District of Columbia | 500 |
Guam | 50 |