The U.S. real estate market is putting prospective home buyers in a difficult situation, with mortgage rates higher than they have been in recent years, home prices soaring, and available inventory becoming tighter.
Despite this situation, the housing market across the country remains very active. As a result, real estate agents and brokers remain busy. With home prices on average significantly higher than they were before the pandemic, some may wonder how much real estate agents and brokers are making these days. How much a real estate agent makes each year depends on several factors, including the number of real estate transactions and commissions, as well as the price of the home.
Using occupation data from the U.S. Bureau of Labor Statistics (BLS), we analyzed and compiled the average salary for real estate agents in each U.S. state in 2023.
Read below for a complete breakdown of where real estate agents make the most and least money.
10 states where real estate agents make the most money
According to the BLS, the national average annual wage for real estate sales agents is $65,850. This makes the average salary for real estate agents slightly higher than the average annual wage of $61,900 for all occupations. Here’s a breakdown of the top 10 states where real estate agents earn the most.
1. New Hampshire
Average salary for real estate agents: $94,810
2. New York
Average salary for real estate agents: $93,950
3. New Jersey
Average salary for real estate agents: $82,090
4. Colorado
Average salary for real estate agents: $79,610
5. Massachusetts
Average salary for real estate agents: $79,060
6. California
Average salary for real estate agents: $77,430
7. Texas
Average salary for real estate agents: $77,320
8. Wyoming
Average salary for real estate agents: $74,820
9. Nevada
Average salary for real estate agents: $73,990
10. Mississippi
Average salary for real estate agents: $72,900
The states that pay the most to real estate agents on average are geographically located in the Northeast, West, and South, with 4 states, 4 states, and 2 states per census region, respectively. What’s really interesting is that even though Mississippi has the lowest median household income of the 50 states, it ranks in the top 10 states with the highest average annual salary for real estate agents. is.
10 states where real estate agents earn the least
Now we move to the other side of the spectrum. Here’s a breakdown of the 10 states where real estate agents earn the least.
1. Illinois
Average salary for real estate agents: $44,510
2. Ohio
Average salary for real estate agents: $45,570
3. Louisiana
Average salary for real estate agents: $46,690
4. Missouri
Average salary for real estate agents: $47,670
5. Idaho
Average salary for real estate agents: $49,830
6. New Mexico
Average salary for real estate agents: $50,920
7. Kansas
Average salary for real estate agents: $52,970
8. Nebraska
Average salary for real estate agents: $53,090
9. Delaware
Average salary for real estate agents: $53,690
10. Kentucky
Average salary for real estate agents: $55,050
The list is dominated by states in the South and Midwest, with two states representing the West: Idaho and New Mexico. The average salary for a real estate agent in Illinois is more than $20,000 less than the national average: $44,510 vs. $65,850.
How much does a real estate agent earn in each state?
In just one year, real estate sales revenue increased by more than 20% in seven states.
- Annual Salary Growth for Real Estate Agents in New Hampshire:95.5%
- Annual Salary Growth for Real Estate Agents in Rhode Island:41%
- Annual Salary Growth for Real Estate Agents in Arkansas:30.8%
- Texas Real Estate Agent Annual Salary Growth:30.5%
- Annual Salary Growth for Real Estate Agents in Indiana:24.7%
- Annual Salary Growth for Real Estate Agents in Arizona:21.8%
- Annual Salary Growth for Real Estate Agents in South Carolina:20.8%
Below are the average annual salaries for all 50 states and their respective real estate jobs. States are listed alphabetically, but include a salary ranking from 1 to 50 (1 being the highest and 50 being the lowest).
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