How much do real estate brokers and real estate agents earn in each state

Last year, we looked at how much real estate agents earn on average across the 50 states based on data from the Bureau of Labor Statistics (BLS) 2018 Occupational Employment Statistics. Now, in 2020, the BLS has updated salary figures for real estate agents and real estate brokers. According to the latest BLS data, the average annual salary for real estate agents in the United States is $62,060, while the average annual salary for real estate brokers is $81,450.

These two trades necessarily have very different wages depending on where you work. From state to state, the average salaries for real estate agents and brokers can vary widely. For example, while the national average annual salary for realtors is just over $60,000, in the highest-paying state for realtors, the average salary is $111,800, nearly double the national average. Read on to find out where real estate agents and brokers make the most money and where they make the least.

10 States Where Real Estate Agents and Brokers Make the Most Money

When comparing the highest-paying states for real estate agents and real estate brokers, only three states make it into the top 10 states for both occupations. The other seven states where real estate agents earn the most are different from where real estate brokers earn the most. Here’s a look at where real estate agent salaries are highest.

10 States Where Real Estate Agents Make The Most Money

Here’s a breakdown of the top 10 states where real estate agents make the most money on average:

  1. Average salary of a real estate agent in New York: $111,800
  2. Average Real Estate Agent Salary in Massachusetts: $84,180
  3. Average Connecticut Realtor Salary: $79,780
  4. Average Realtor Salary in Alaska: $79,360
  5. Average Colorado Realtor Salary: $76,850
  6. Average Realtor Salary in Utah: $75,170
  7. Average Real Estate Agent Salary in California: $74,140
  8. Average Texas Real Estate Agent Salary: $72,830
  9. Average Wyoming Realtor Salary: $71,460
  10. Average real estate agent salary in Hawaii: $71,140

Unsurprisingly, New York City, with the incredibly expensive real estate of New York City, its suburbs, and Long Island, is where real estate agents earn the most, averaging $111,800 per year. The top 10 states for real estate agent salaries are found primarily in the northeast and west, including the Pacific Coast and the mountainous states of Colorado and Utah.

10 States Where Real Estate Agents Make The Least Money

Here’s a breakdown of the bottom 10 states where real estate agents make the least money on average:

  1. Average Realtor Salary in Illinois: $42,130
  2. Average Minnesota Realtor Salary: $46,130
  3. Average Realtor Salary in Idaho: $47,350
  4. Average Real Estate Agent Salary in Ohio: $47,420
  5. Indiana Realtor Average Salary: $47,670
  6. Average Realtor Salary in South Carolina: $48,560
  7. Average Delaware Realtor Salary: $49,410
  8. Average Nebraska Realtor Salary: $49,860
  9. Average Realtor Salary in New Hampshire: $49,970
  10. Average Realtor Salary in North Carolina: $50,160

The states where real estate agents earn the least are generally located in the Midwestern and Southern regions of the United States, although Idaho is part of the Western region. Illinois, where real estate agent salaries are lowest, has seen a dramatic drop in real estate agent salaries over the past five years. From an average annual salary of $75,270 in 2014, the average salary of a real estate agent has dropped by 44% from 2019, when the current average is only $42,130 per year. Delaware has also seen a substantial drop in wages, with its average realtor salary dropping 18.5% since 2014, when it stood at $60,600.

10 States Where Realtors Make The Most Money

Average real estate broker salaries tend to be a bit higher than real estate agent salaries in most states. As mentioned earlier, only three states overlap between these two state lists: California, Massachusetts, and Texas. One thing to note, however, about the average salaries of real estate brokers is that the BLS data is less comprehensive than for real estate agents, in this case not having salary data for 11 states.

Here is a breakdown of the top 10 states in which realtors earn the most money on average:

  1. Average Realtor Salary in New Mexico: $112,860
  2. Average Real Estate Agent Salary in Massachusetts: $109,140
  3. Average Real Estate Agent Salary in California: $104,120
  4. Average salary of a real estate agent in New York: $99,930
  5. Average Texas Real Estate Agent Salary: $95,150
  6. Average Nevada Realtor Salary: $93,850
  7. Average Wisconsin Realtor Salary: $93,400
  8. Average Realtor Salary in Maryland: $92,540
  9. Indiana Realtor Average Salary: $89,720
  10. Average Realtor Salary in North Carolina: $84,770

New Mexico has seen an incredible increase in salaries for real estate brokers. In 2016, the average annual salary for real estate brokers in the state was just $46,130. In 2019, the average is $112,860, an increase of 144.7% in just three years. However, about half of the states on this list actually saw their salaries drop from 2014 to 2019, while salaries for real estate brokers increased in California, Wisconsin, Maryland and North Carolina.

10 States Where Realtors Make The Least Money

Here is a breakdown of the bottom 10 states in which real estate brokers earn the least money on average:

  1. Average Realtor Salary in Illinois: $46,820
  2. Average Realtor Salary in Oklahoma: $47,350
  3. Average Realtor Salary in Utah: $47,460
  4. Average Louisiana Realtor Salary: $50,590
  5. Average Realtor Salary in Alabama: $50,810
  6. Average Realtor Salary in South Dakota: $53,060
  7. Average Minnesota Realtor Salary: $54,060
  8. Average Missouri Realtor Salary: $54,920
  9. Average real estate agent salary in Vermont: $55,250
  10. Average Nebraska Realtor Salary: $59,330

Once again, Illinois ranks as the worst state for realtor salaries. The state saw a significant drop in salaries, with the average annual salary for real estate brokers being $90,700 in 2014, before dropping 48.4% to a current average of $46,820. Oklahoma, despite having the second-lowest average annual salary, has at least seen real estate broker salaries increase by 24.7% over the past five years.

How much do real estate agents and brokers make in each state

Below are two tables showing a full breakdown of the average annual salaries of real estate agents and brokers in each state for which data was available. The five-year change from 2014 to 2019 is also included.

How much do real estate agents earn in each state

Here is a breakdown of the average annual salary of real estate agents in the 50 US states.

How much do real estate brokers earn in each state

Here is a breakdown of the average annual salary of real estate agents for as many US states for which the BLS has updated data.

Kristan F. Talley