Introduction
The real estate industry is full of opportunities for professionals looking to earn a lucrative income. Real estate brokers, in particular, can benefit from higher earning potential compared to their agent counterparts. In this comprehensive state-by-state guide, we’ll explore the average real estate broker salary in all 50 US states, giving you a clear picture of how your potential income as a broker might vary depending on where you practice.
- Alabama:
In Alabama, real estate brokers can expect an average annual salary of around $75,000. Keep in mind that commissions and the local housing market will influence the final figure, so it’s essential to consider these factors when deciding whether to start or continue a brokerage career in Alabama.
- Alaska:
Real estate brokers in Alaska have an average salary of approximately $82,000 per year. The unique housing market in Alaska can lead to fluctuations in income, but overall, brokers in this state can expect a competitive salary.
- Arizona:
The average real estate broker salary in Arizona is roughly $76,000 per year. Arizona has a thriving real estate market, particularly in cities like Phoenix and Scottsdale, which can provide ample opportunities for brokers to maximize their earnings.
- Arkansas:
Arkansas real estate brokers earn an average annual salary of about $72,000. While this figure might be lower than some other states, the cost of living in Arkansas is relatively low, making it an attractive option for brokers looking to maximize their income.
- California:
Real estate brokers in California enjoy an average salary of approximately $94,000 per year, making it one of the highest-paying states for this profession. The strong housing market in cities like Los Angeles, San Francisco, and San Diego contributes to this higher earning potential.
- Colorado:
In Colorado, real estate brokers can expect an average salary of around $79,000 per year. The booming real estate market in cities like Denver and Boulder offers brokers the opportunity to earn a substantial income.
- Connecticut:
The average real estate broker salary in Connecticut is approximately $83,000 per year. The state’s high cost of living and strong housing market, particularly in areas like Fairfield County, contribute to this higher average salary.
- Delaware:
Real estate brokers in Delaware earn an average annual salary of around $77,000. The state’s proximity to major metropolitan areas, like Philadelphia and Baltimore, offers brokers a range of opportunities to grow their income.
- Florida:
In Florida, the average real estate broker salary is about $75,000 per year. With a booming housing market in cities like Miami, Orlando, and Tampa, brokers in Florida can expect a wealth of opportunities to increase their earnings.
- Georgia:
Georgia real estate brokers have an average salary of approximately $74,000 per year. The thriving housing market in Atlanta and its surrounding suburbs provides ample opportunities for brokers to earn a competitive income.
- Hawaii:
Real estate brokers in Hawaii can expect an average annual salary of around $92,000. Hawaii’s unique housing market and high cost of living contribute to this higher salary, making it an attractive option for brokers looking to capitalize on the state’s booming tourism industry.
- Idaho:
In Idaho, the average real estate broker salary is about $71,000 per year. With a growing population and increasing demand for housing, brokers in Idaho have ample opportunities to expand their income potential.
- Illinois:
Real estate brokers in Illinois enjoy an average annual salary of approximately $80,000. The diverse housing market in cities like Chicago and its surrounding suburbs provides brokers with a wide range of opportunities to increase their earnings.
- Indiana:
The average real estate broker salary in Indiana is around $72,000 per year. With a stable housing market and affordable cost of living, Indiana offers a solid foundation for brokers looking to grow their income.
- Iowa:
In Iowa, real estate brokers can expect an average annual salary of about $70,000. The state’s stable housing market and low cost of living make it an attractive option for brokers seeking a comfortable income.
- Kansas:
Real estate brokers in Kansas enjoy an average salary of approximately $71,000 per year. With a strong agricultural industry and growing metropolitan areas like Kansas City, brokers have plenty of opportunities to maximize their earnings.
- Kentucky:
The average real estate broker salary in Kentucky is around $70,000 per year. A stable housing market and affordable cost of living contribute to this figure, making Kentucky an appealing option for brokers looking to establish or grow their business.
- Louisiana:
In Louisiana, real estate brokers can expect an average annual salary of about $73,000. The state’s diverse housing market, including vibrant cities like New Orleans and Baton Rouge, provides numerous opportunities for brokers to increase their income.
- Maine:
Real estate brokers in Maine enjoy an average salary of approximately $74,000 per year. With a growing tourism industry and strong demand for vacation properties, brokers in Maine have the opportunity to capitalize on the state’s unique real estate market.
- Maryland:
The average real estate broker salary in Maryland is around $81,000 per year. Maryland’s proximity to major metropolitan areas like Washington, D.C., and Baltimore offers brokers a wide range of opportunities to grow their income.
- Massachusetts:
In Massachusetts, real estate brokers can expect an average annual salary of about $87,000. The state’s strong housing market and high cost of living contribute to this higher salary, providing brokers with ample opportunities to maximize their earnings.
- Michigan:
Real estate brokers in Michigan enjoy an average salary of approximately $74,000 per year. The state’s diverse housing market, including cities like Detroit and Grand Rapids, provides brokers with numerous opportunities to increase their income.
- Minnesota:
The average real estate broker salary in Minnesota is around $76,000 per year. With a stable housing market and growing metropolitan areas like Minneapolis and St. Paul, brokers in Minnesota have plenty of opportunities to expand their income potential.
- Mississippi:
In Mississippi, real estate brokers can expect an average annual salary of about $69,000. The state’s affordable cost of living and stable housing market make it an attractive option for brokers seeking a comfortable income.
- Missouri:
Real estate brokers in Missouri enjoy an average salary of approximately $72,000 per year. With a diverse housing market, including cities like St. Louis and Kansas City, brokers have plenty of opportunities to maximize their earnings.
- Montana:
The average real estate broker salary in Montana is around $71,000 per year. The state’s growing tourism industry and strong demand for vacation properties provide brokers with unique opportunities to capitalize on Montana’s real estate market.
- Nebraska:
In Nebraska, real estate brokers can expect an average annual salary of about $70,000. The state’s stable housing market and low cost of living make it an appealing option for brokers looking to establish or grow their business.
- Nevada:
Real estate brokers in Nevada enjoy an average salary of approximately $77,000 per year. The state’s strong tourism industry, particularly in Las Vegas, offers brokers unique opportunities to capitalize on the real estate market.
- New Hampshire:
The average real estate broker salary in New Hampshire is around $74,000 per year. With a growing population and increasing demand for housing, brokers in New Hampshire have ample opportunities to expand their income potential.
- New Jersey:
In New Jersey, real estate brokers can expect an average annual salary of about $85,000. The state’s diverse housing market and high cost of living contribute to this higher salary, providing brokers with numerous opportunities to maximize their earnings.
- New Mexico:
Real estate brokers in New Mexico enjoy an average salary of approximately $70,000 per year. With a stable housing market and affordable cost of living, New Mexico offers a solid foundation for brokers looking to grow their income.
- New York:
The average real estate broker salary in New York is around $95,000 per year. New York’s strong housing market, particularly in New York City, provides brokers with ample opportunities to increase their income.
- North Carolina:
In North Carolina, real estate brokers can expect an average annual salary of about $74,000. The state’s growing population and diverse housing market make it an attractive option for brokers seeking to expand their business.
- North Dakota:
Real estate brokers in North Dakota enjoy an average salary of approximately $70,000 per year. With a stable housing market and low cost of living, North Dakota offers a comfortable income for brokers looking to establish or grow their business.
- Ohio:
The average real estate broker salary in Ohio is around $72,000 per year. With a diverse housing market, including cities like Cleveland and Columbus, brokers in Ohio have plenty of opportunities to maximize their earnings.
- Oklahoma:
In Oklahoma, real estate brokers can expect an average annual salary of about $70,000. The state’s stable housing market and affordable cost of living make it an appealing option for brokers seeking a comfortable income.
- Oregon:
Real estate brokers in Oregon enjoy an average salary of approximately $75,000 per year. With a strong housing market and growing metropolitan areas like Portland, brokers in Oregon have ample opportunities to expand their income potential.
- Pennsylvania:
The average real estate broker salary in Pennsylvania is around $74,000 per year. With a diverse housing market, including cities like Philadelphia and Pittsburgh, brokers in Pennsylvania have plenty of opportunities to increase their income.
- Rhode Island:
In Rhode Island, real estate brokers can expect an average annual salary of about $75,000. The state’s strong housing market and high cost of living contribute to this figure, making Rhode Island an appealing option for brokers looking to maximize their earnings.
- South Carolina:
Real estate brokers in South Carolina enjoy an average salary of approximately $71,000 per year. With a growing population and diverse housing market, brokers in South Carolina have plenty of opportunities to expand their business.
- South Dakota:
The average real estate broker salary in South Dakota is around $68,000 per year. With a stable housing market and low cost of living, South Dakota offers a comfortable income for brokers looking to establish or grow their business.
- Tennessee:
In Tennessee, real estate brokers can expect an average annual salary of about $72,000. The state’s growing population and diverse housing market make it an attractive option for brokers seeking to expand their income potential.
- Texas:
Real estate brokers in Texas enjoy an average salary of approximately $76,000 per year. With a strong housing market and booming metropolitan areas like Dallas, Austin, and Houston, brokers in Texas have ample opportunities to increase their earnings.
- Utah:
The average real estate broker salary in Utah is around $74,000 per year. With a growing population and strong housing market, brokers in Utah have plenty of opportunities to maximize their income.
- Vermont:
In Vermont, real estate brokers can expect an average annual salary of about $69,000. The state’s stable housing market and high cost of living contribute to this figure, making Vermont an appealing option for brokers looking to establish or grow their business.
- Virginia:
Real estate brokers in Virginia enjoy an average salary of approximately $78,000 per year. With a strong housing market and growing metropolitan areas like Richmond and Virginia Beach, brokers in Virginia have ample opportunities to expand their income potential.
- Washington:
The average real estate broker salary in Washington is around $81,000 per year. With a diverse housing market, including cities like Seattle and Tacoma, brokers in Washington have plenty of opportunities to increase their income.
- West Virginia:
In West Virginia, real estate brokers can expect an average annual salary of about $67,000. The state’s stable housing market and affordable cost of living make it an appealing option for brokers seeking a comfortable income.
- Wisconsin:
Real estate brokers in Wisconsin enjoy an average salary of approximately $71,000 per year. With a diverse housing market, including cities like Milwaukee and Madison, brokers in Wisconsin have plenty of opportunities to expand their business.
- Wyoming:
The average real estate broker salary in Wyoming is around $68,000 per year. With a stable housing market and low cost of living, Wyoming offers a comfortable income for brokers looking to establish or grow their business.
Conclusion
As you can see, the average real estate broker salary can vary significantly across the United States. When considering a career as a broker, it’s important to weigh factors like the local housing market, cost of living, and state-specific licensing requirements. By carefully evaluating these elements, you can make an informed decision about where to establish or grow your brokerage business and optimize your earning potential.
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