How Much Do Appraisers Make – With such important roles in real estate, as well as the more stringent education and training requirements for licensing, it’s no surprise that appraiser salary ranges are often lucrative.
So how much can you expect to earn as a real estate appraiser? Whether you’re considering switching to a new career – or working toward a higher licensure level – here’s a list of U.S. Here’s a primer on home appraiser salaries.
How Much Do Appraisers Make
There are many factors involved when it comes to figuring out your expected annual salary as an appraiser. Let’s start by examining some basics.
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According to Salary.com, trainee appraisers earn an average of $45,447 per year while certified general appraisers earn an average of $107,751 annually.
Keep in mind that some states may have different average salaries as well as different titles for appraiser licensees depending on the location. Be sure to research your state’s licensing requirements and state salary data for the most accurate estimate.
Who you choose to work for as an appraiser can also affect your average annual salary. Licensed real estate appraisers, certified real estate appraisers, and certified general appraisers can work in a few different ways:
As you complete your qualifying education as a trainee appraiser and begin to gain experience, consider whether you ultimately want to work independently or with a firm or agency.
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As an independent real estate appraiser, you can earn a higher annual salary as you will be paid as per the appraisals. The current national average cost of a home appraisal is approximately $350. Independent home appraisers set their own hours, determine how many appraisals they can complete per week or per month, and have more control over increasing (or decreasing) their workload and salary.
If you choose to work for an appraisal firm, bank or government agency, you may get an annual salary or you may be paid as per appraisal. If you are paid per appraisal, you will negotiate an appraisal commission split with your firm or company. This means that you split each appraisal commission you bring in with the firm in the same way that real estate agents split their commissions with their brokers. In valuation, this split is usually 75% for you and 25% for the firm, but it can vary.
The location of a property, the size of the property and the type of property can also affect your annual appraiser salary.
Average appraisal fees are generally lower in rural cities and higher in more urban cities. Smaller properties have lower appraisal fees than larger properties. In addition, your appraisal fee is typically less when you are appraising a residential property (as a licensed or certified real estate appraiser) than when you are appraising a commercial property (as a licensed or certified real estate appraiser). as a Certified General Appraiser) is higher.
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Below is a sample of the average base salary for licensed real estate appraisers as of September 2022, according to Indeed.com. Remember, these figures vary based on the above factors.
Licensed real estate appraisers in Alabama earn an average of $55,854 per year, which is lower than the national average.
In Alaska, licensed real estate appraisers earn an average of $59,262 per year, which is comparable to the national average.
Arizona-based licensed real estate appraisers earn an average of $58,938 per year, which is roughly equal to the national average.
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In California, licensed real estate appraisers earn an average of $69,935 per year, which is much higher than the national average.
In Delaware, licensed real estate appraisers earn an average of $58,108 per year, which is comparable to the national average.
Licensed real estate appraisers in Georgia earn an average of $57,950 per year, which is comparable to the national average.
In Hawaii, licensed real estate appraisers earn an average of $57,388 per year, similar to the national average.
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Indiana’s licensed real estate appraisers earn an average of $55,959 per year, which is comparable to the national average.
Licensed real estate appraisers in Kansas earn an average of $55,418 per year, which is less than the national average.
Licensed real estate appraisers in Maine earn an average of $56,839 annually, which is comparable to the national average.
In Missouri, licensed real estate appraisers earn an average of $58,133 per year, which is comparable to the national average.
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In Nevada, licensed real estate appraisers earn an average of $58,126 per year, which is comparable to the national average.
In New Hampshire, a licensed real estate appraiser earns an average of $57,231 per year, which is comparable to the national average.
In New Jersey, licensed real estate appraisers earn an average of $61,750 annually, which is comparable to the national average.
In New Mexico, a licensed real estate appraiser earns an average of $56,541 per year, which is comparable to the national average.
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Licensed real estate appraisers in New York earn an average of $63,134 per year, which is higher than the national average.
Licensed real estate appraisers in North Carolina earn an average of $57,674 per year, which is comparable to the national average.
In North Dakota, a licensed real estate appraiser earns an average of $56,803, which is comparable to the national average.
In Oregon, licensed real estate appraisers earn an average of $59,616 annually, which is comparable to the national average.
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In Pennsylvania, licensed real estate appraisers earn an average of $58,446 annually, which is comparable to the national average.
Licensed real estate appraisers in Rhode Island earn an average of $58,715 annually, which is comparable to the national average.
Licensed real estate appraisers in South Carolina earn an average of $55,970 per year, which is comparable to the national average.
In Tennessee, licensed real estate appraisers earn an average of $56,516 annually, which is comparable to the national average.
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In Texas, licensed real estate appraisers earn an average of $58,909 annually, which is comparable to the national average.
Licensed real estate appraisers in Utah earn an average of $56,501 per year, which is comparable to the national average.
Licensed real estate appraisers in Vermont earn an average of $56,015 per year, which is comparable to the national average.
In Virginia, a licensed real estate appraiser earns an average of $60,367 per year, which is comparable to the national average.
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Washington DC. In the U.S., licensed real estate appraisers earn an average of $67,412 annually, which is well above the national average.
Licensed real estate appraisers in West Virginia earn an average of $54,684 per year, which is less than the national average.
In Wisconsin, licensed real estate appraisers earn an average of $57,111 annually, which is comparable to the national average.(**) Disclosure: This post may contain affiliate links, which means that our company, JCHQ, should you decide Publishing will get a commission. Make a purchase through the link, but you will not be charged extra.
Real estate appraisers in New York earn an average annual income of $93,044. Income typically ranges between $60,327 and $95,427. Top earning appraisers are earning over $119,009 per year.
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Real estate appraisers are not paid by commission. Rather they are usually paid a fixed fee or compensated for the time taken to complete the assignment.
This fee structure helps ensure that the appraiser’s sole motivation is to provide an accurate estimate of a property’s value, rather than to earn a commission from the sale. Thus, it minimizes any potential conflict of interest that may arise.
In this guide, I’ll explain how much real estate appraisers in New York earn, the areas where they earn the most, and whether being a commercial or residential appraiser has any impact on income. Income Demographics of Real Estate Appraisers in New York
Real estate trainee appraisers in New York earn an average annual income of $34,216. Income typically ranges between $26,324 and $43,874. Top earning interns are earning up to $48,262 per year.
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In the early stages of your real estate appraiser career, you probably won’t earn much because you will be working as an apprentice under the supervision of another certified appraiser.
However, pay for commercial real estate appraisers can be more lucrative, so they may be able to compensate you better while you’re still working as an apprentice. One of the appraisers I spoke to said that CBRE, Colliers, JLL and Cushman regularly hire interns. You can check if they are hiring in your area.
As you continue to earn work experience and obtain the necessary licensing (i.e., Certified Residential/General Appraiser license), you should be able to see a significant improvement in your earnings.
The first step in your appraisal career is to complete pre-licensing courses from a trusted education provider. McKessock Learning receives incredible ratings from its students, and their online lessons are taught by instructors who have real experience in the assessment industry. You can click here to know more about their courses. (**) How much do residential real estate appraisers earn in New York?
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Residential real estate appraisers in New York earn a median annual income of $69,376, which typically ranges between $57,037 and $82,264. Top earners are earning as much as $97,621 per year.
A residential real estate appraiser is a professional who assesses the value of properties such as homes or apartment units. You can evaluate homes for a buyer or mortgage lender by doing market research.
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