With such important roles in real estate, as well as more stringent training requirements for licensure, it’s no wonder appraiser salaries are lucrative.
So how much can you expect to make as a full-time real property appraiser? Whether you’re considering a switch to a new career—or working to upgrade your license — here’s the lowdown on the average real estate appraiser salary in the U.S.
How Much Do Real Property Appraisers Make in 2024?
Here are the national average salaries for real estate appraisers in 2024.
- Indeed.com reports that licensed real estate appraisers make $61,277 per year.
- Salary.com reports a median salary point for licensed real estate appraisers at $59,447.
- The latest U.S. Bureau of Labor Statistics (BLS) report shows a median annual wage of $61,630 for licensed real estate appraisers.
3 Factors That Affect Your Appraiser Salary
There are a lot of factors in play when it comes to figuring out your expected annual salary as an appraiser. Let’s start by examining a few of the primary ones.
#1 - Your Appraiser License Level, Education, and Experience
There are four types of appraiser licenses, and each has their own education and experience requirements. These include:
- Trainee Appraiser (Apprentice Level)
- Licensed Residential Real Property Appraiser (Entry Level)
- Certified Residential Real Property Appraiser (Mid-Level)
- Certified General Real Property Appraiser (Senior Level)
Typically, upgrading license levels translates into an increase in your salary.
According to Salary.com, licensed residential appraisers make a median salary of $59,447 per year while certified residential appraisers make an average of $90,354 annually.
Keep in mind that some states may have different titles for appraiser licensees, along with differing average salaries depending on location. Be sure to research your state’s licensing requirements and state salary data for the most accurate estimate.
#2 - Who You Work For
Who you choose to work for as an appraiser may also influence your average annual salary. Licensed residential real estate appraisers, certified residential appraisers, and certified general appraisers may work in a few different ways:
- Independently
- For small or large appraisal firms
- For banks
- For local, state, or Federal government
As you complete your qualifying education as a Trainee Appraiser and start to gain experience, consider whether or not you eventually want to work independently or with a firm or agency.
As an independent real estate appraiser, you can make a higher annual salary because you’ll be paid per appraisal. The current national average cost of a home appraisal runs around $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, a bank, or a government agency, you might make an annual salary or you might be paid per appraisal. If you’re paid per appraisal, you’ll negotiate an appraisal commission split with your firm or company. This means you split each appraisal commission you bring in with the firm, similar to how real estate agents split their commissions with their brokers. In appraisal, this split is usually 75% to you and 25% to the firm, but it can vary.
#3 - Your Location and the Types of Properties You Can Appraise
The location of a property, size of a property, and type of property can also affect your annual appraiser salary.
Rural cities usually have lower average appraisal fees and more urban cities have higher ones. Smaller properties net lower appraisal fees than larger properties. Additionally, your appraisal fee is generally lower when you’re appraising a residential property (as a licensed or certified real estate appraiser) and higher when you’re appraising a commercial property (as a certified general appraiser).
Average Yearly Real Estate Appraiser Salaries By State
Below is a sampling of the average salary ranges for licensed real estate appraisers, according to Indeed.com as of 2024. Remember, these figures vary depending on the factors above.
Alabama
Licensed real estate appraisers in Alabama make an average of $48,934 per year, lower than the national average.
Alaska
In Alaska, licensed real estate appraisers make an average of $76,855 per year, above the national average.
Arizona
Arizona-based licensed real estate appraisers make an average of $64,133 per year, above the national average.
Arkansas
Licensed real estate appraisers in Arkansas make an average of $35,000 per year, below the national average.
California
In California, licensed real estate appraisers make an average of $90,710 per year, much higher than the national average.
Colorado
Colorado-based licensed real estate appraisers make an average of $61,309 per year, near the national average.
Connecticut
Licensed real estate appraisers in Connecticut make an average of $90,973 per year, above the national average.
Delaware
In Delaware, licensed real estate appraisers make an average of $54,759 per year, below the national average.
Florida
Florida licensed real estate appraisers make an average of $58,232 per year, near the national average.
Georgia
Georgia licensed real estate appraisers make an average of $51,873 per year, below the national average.
Hawaii
In Hawaii, licensed real estate appraisers make an average of $64,415 per year, above the national average.
Idaho
Idaho licensed real estate appraisers make an average of $56,130 per year, lower than the national average.
Illinois
Licensed real estate appraisers in Illinois make an average of $69,396 per year, above the national average.
Indiana
Indiana licensed real estate appraisers make an average of $88,992 per year, above the national average.
Iowa
Iowa-based licensed real estate appraisers make an average of $80,212 per year, above the national average.
Kansas
Licensed real estate appraisers in Kansas make an average of $47,012 per year, lower than the national average.
Kentucky
In Kentucky, licensed real estate appraisers make an average of $63,999 per year, above the national average.
Louisiana
Louisiana licensed real estate appraisers make an average of $62,791 per year, around the national average.
Maine
Licensed real estate appraisers in Maine make an average of $45,366 yearly, below the national average.
Maryland
Maryland licensed real estate appraisers make an average of $113,041 annually, well above the national average.
Massachusetts
In Massachusetts, licensed real estate appraisers make an average of $71,842 per year, above the national average.
Michigan
Michigan-based licensed real estate appraisers make $59,428 on average yearly, around the national average.
Minnesota
Minnesota licensed real estate appraisers make an average of $83,814 yearly, above the national average.
Mississippi
Mississippi licensed real estate appraisers make $52,482 on average per year, below the national average.
Missouri
In Missouri, licensed real estate appraisers make an average of $65,533 per year, above the national average.
Montana
In Montana, licensed real estate appraisers make an average of $44,871 per year, below the national average.
Nebraska
Nebraska licensed real estate appraisers make $79,880 per year on average, above the national average.
Nevada
In Nevada, licensed real estate appraisers make on average $62,944 per year, around the same as the national average.
New Hampshire
In New Hampshire, a licensed real estate appraiser makes $62,477 per year on average, around the same as the national average.
New Jersey
In New Jersey, licensed real estate appraisers make on average $56,184 yearly, below the national average.
New Mexico
In New Mexico, a licensed real estate appraiser makes $54,018 per year on average, below the national average.
New York
Licensed real estate appraisers in New York make an average of $69,748 per year, higher than the national average.
North Carolina
Licensed real estate appraisers in North Carolina make an average of $49,679 per year,below the national average.
North Dakota
In North Dakota, a licensed real estate appraiser makes $56,835 on average, below the national average.
Ohio
Ohio licensed real estate appraisers make $98,016 on average annually, above the national average.
Oklahoma
Oklahoma licensed real estate appraisers make $94,239 on average annually, above the national average.
Oregon
In Oregon, licensed real estate appraisers make on average $68,592 annually, below the national average.
Pennsylvania
In Pennsylvania, licensed real estate appraisers make an average of $66,071 annually, above the national average.
Rhode Island
Licensed real estate appraisers in Rhode Island make an average of $66,883 annually, above the national average.
South Carolina
Licensed real estate appraisers in South Carolina make an average of $53,924 per year, below the national average.
South Dakota
In South Dakota, a licensed real estate appraiser makes $52,564 on average annually, below the national average.
Tennessee
In Tennessee, licensed real estate appraisers make on average $70,908 annually, above the national average.
Texas
In Texas, licensed real estate appraisers make on average $54,996 annually, below the national average.
Utah
Licensed real estate appraisers in Utah make an average of $85,060 a year, around the same as the national average.
Vermont
Licensed real estate appraisers in Vermont make an average of $55,314 per year, below the national average.
Virginia
In Virginia, a licensed real estate appraiser makes $67,995 per year on average, around the same as the national average.
Washington
Washington-based licensed real estate appraisers make an average of $80,676 annually, above the national average.
Washington, D.C.
In Washington, D.C., licensed real estate appraisers make an average of $93,789 annually, well above the national average.
West Virginia
Licensed real estate appraisers in West Virginia make $54,379 per year on average, which falls below the national average.
Wisconsin
In Wisconsin, licensed real estate appraisers make $67,671 on average annually, above the national average.
Wyoming
In Wyoming, licensed real estate appraisers make $51,123 on average yearly, which falls below the national average.
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