Loan Officer salary in Rapid City, SD
Loan Officers in the Rapid City, SD metro area earn a median of $78,470 a year ($37.73 an hour), based on BLS data for 220 workers.
Pay ranges from $56,810 for the lowest-paid 10% to $122,810 for the top 10%. That is 2% higher than the national median of $76,690. Pay here is 2% lower than the South Dakota statewide median of $79,920. There are 2.9 loan officers per 1,000 jobs here — the job is 1.7× more common than nationally. The average (mean) salary is $82,890, above the median because a few high earners pull it up.
Pay range for loan officers in Rapid City, SD
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $56,810 | $27.31 |
| 25th percentile | $60,950 | $29.31 |
| Median | $78,470 | $37.73 |
| 75th percentile | $98,000 | $47.12 |
| 90th percentile (top earners) | $122,810 | $59.04 |
| Average (mean) | $82,890 | $39.85 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,539.17 |
| Semi-monthly (24 a year) | $3,269.58 |
| Biweekly (26 a year) | $3,018.08 |
| Weekly | $1,509.04 |
| Hourly | $37.73 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $78,470 salary, see how much house you can afford in South Dakota at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Sioux City, IA-NE-SD | $81,780 | 140 |
| Sioux Falls, SD-MN | $81,380 | 690 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the South Dakota statewide figures.
Related jobs in Rapid City, SD
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $79,270 | $38.11 |
| Financial and Investment Analysts | $69,690 | $33.51 |
| Property Appraisers and Assessors | $63,900 | $30.72 |
| Personal Financial Advisor | $103,760 | $49.89 |
| Credit Analyst | $80,990 | $38.94 |
| Tax Preparer | $61,100 | $29.38 |
| Budget Analyst | $75,360 | $36.23 |
| Management Analyst | $92,710 | $44.57 |
| Project Management Specialist | $74,700 | $35.91 |
| Business Operations Specialists, All Other | $79,440 | $38.19 |
| Human Resources Specialist | $74,980 | $36.05 |
| Market Research Analysts and Marketing Specialists | $61,700 | $29.66 |
| Cost Estimator | $72,210 | $34.72 |
| Buyers and Purchasing Agents | $76,400 | $36.73 |
More: Business and Financial Operations Occupations · all salaries in Rapid City, SD
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Rapid City, SD?
The median salary for loan officers in the Rapid City, SD metro area is $78,470 a year, or $37.73 an hour. Pay ranges from $56,810 for the lowest-paid 10% to $122,810 for the top 10%.
How much do the highest-paid loan officers make in Rapid City, SD?
The top 10% of loan officers in the Rapid City, SD metro area earn at least $122,810 a year. The top 25% earn $98,000 or more.
What is the starting pay for loan officers in Rapid City, SD?
Entry-level pay (the 10th percentile) is about $56,810 a year, and a quarter of loan officers earn $60,950 or less.
How many loan officers work in Rapid City, SD?
About 220 loan officers are employed in the Rapid City, SD metro area, not counting the self-employed.