There are currently an estimated 354,800 loan officers in the United States. The loan officer job market is expected to grow by 3.0% between 2022 and 2032.
How employable are loan officers?
CareerExplorer rates loan officers with a C employability rating, meaning this career should provide moderate employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 14,600 loan officers. That number is based on 10,500 additional loan officers, and the retirement of 4,100 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 |
| Maine | 1,120 |
| New Hampshire | 1,120 |
| Alaska | 850 |
| West Virginia | 850 |
| Delaware | 760 |
| Wyoming | 760 |
| Vermont | 520 |
| District of Columbia | 500 |
| Guam | 50 |