How much does a real estate broker make?
The median real estate broker in the United States earns $72,280 per year, about $34.75 an hour. That is the midpoint of the profession: half of all real estate brokers earn more, and half earn less.
Source: BLS OEWS, May 2024. SOC code 41-9021.
Real estate broker salary range
Pay for real estate brokers spans a wide band. The lowest paid 10 percent earn under $36,920 a year, while the highest paid 10 percent take home more than $166,730. The average (mean) wage of $91,660 runs a bit higher than the median, which is normal for jobs where a group of top earners pulls the average up.
| Percentile | Annual | Hourly | |
|---|---|---|---|
| 10th percentile | $36,920 | $17.75 | Lowest paid |
| 25th percentile | $48,200 | $23.17 | |
| Median (50th) | $72,280 | $34.75 | Midpoint |
| 75th percentile | $114,220 | $54.91 | |
| 90th percentile | $166,730 | $80.16 | Highest paid |
Figures are national wage estimates for real estate brokers (SOC 41-9021), U.S. Bureau of Labor Statistics, OEWS, May 2024.
Real estate broker salary by state
Where you work changes the paycheck. Real estate brokers earn the most in Iowa at $116,920 a year, and the least in Kansas at $40,930. The table below lists every state with published data, ranked by median annual salary.
| State | Median annual | Employed |
|---|---|---|
| Iowa | $116,920 | 740 |
| Massachusetts | $112,180 | N/A |
| New York | $94,170 | N/A |
| New Jersey | $92,890 | N/A |
| Connecticut | $90,910 | N/A |
| Nevada | $86,730 | 310 |
| Maryland | $82,500 | N/A |
| Vermont | $82,270 | N/A |
| California | $82,050 | 7,250 |
| Washington | $81,450 | 110 |
| Utah | $81,230 | 400 |
| Colorado | $79,400 | N/A |
| New Mexico | $77,940 | 290 |
| Indiana | $76,330 | 840 |
| Pennsylvania | $74,990 | 1,100 |
| Oregon | $70,860 | 1,620 |
| North Dakota | $70,820 | N/A |
| Delaware | $68,320 | N/A |
| Texas | $66,700 | 3,370 |
| Tennessee | $66,670 | 550 |
| Minnesota | $66,310 | 1,090 |
| Kentucky | $64,210 | 150 |
| Arkansas | $63,890 | N/A |
| Wisconsin | $63,690 | 710 |
| Florida | $63,440 | N/A |
| North Carolina | $62,660 | 1,330 |
| Alabama | $62,000 | 450 |
| Alaska | $59,860 | 220 |
| Montana | $59,310 | 310 |
| Missouri | $58,690 | 1,580 |
| Michigan | $58,640 | 660 |
| Virginia | $55,660 | 1,580 |
| Illinois | $55,290 | 1,620 |
| Arizona | $54,460 | N/A |
| South Carolina | $54,300 | 1,490 |
| Maine | $53,340 | N/A |
| Nebraska | $47,170 | 350 |
| Hawaii | $47,050 | N/A |
| Ohio | $45,850 | 400 |
| Mississippi | $43,670 | 70 |
| West Virginia | $43,600 | 140 |
| Kansas | $40,930 | 460 |
State median wages for real estate brokers (SOC 41-9021), U.S. Bureau of Labor Statistics, OEWS state files, May 2024. States where the BLS does not publish a median are not shown.
Job outlook for real estate brokers
The BLS projects employment of real estate brokers to hold roughly steady from 2025 to 2035. That is little or no change, compared with 3.5% average growth for all occupations. That works out to roughly 103,500 jobs in 2025 moving toward 104,300 by 2035.
Across the decade, the BLS expects about 7,800 openings a year for real estate brokers. Most come from the need to replace workers who move to other jobs or leave the workforce, on top of any new positions from growth.
Source: U.S. Bureau of Labor Statistics, Employment Projections program, 2025-35 (Table 1.2, Occupational projections and worker characteristics).
How to become a real estate broker
The typical entry-level education for real estate brokers is a high school diploma or equivalent, according to the BLS. Most roles also expect less than 5 years of work experience in a related occupation.
A four-year college degree is usually not required to start, which makes this one of the jobs you can enter without a bachelor's degree. See more high paying jobs without a degree .
Education, training, and experience data: U.S. Bureau of Labor Statistics, Employment Projections program.
What affects how much a real estate broker earns
Commission structure, product, employer, and territory drive a wide pay spread. Top performers in high ticket sales earn far above the median.
Location is one of the clearest factors. The gap between the top paying state (Iowa, $116,920) and the lowest (Kansas, $40,930) shows how much geography alone can move the number, before experience or specialization.
About 49,590 people work as real estate brokers in the United States. At $72,280 a year, the job pays above the $49,500 median for all U.S. jobs.
Real estate broker salary FAQ
How much does a real estate broker make an hour?
The median hourly wage for a real estate broker is $34.75. The middle half of real estate brokers earn between $23.17 and $54.91 per hour.
What is the highest real estate broker salary?
The highest paid 10 percent of real estate brokers earn more than $166,730 per year. Top earners usually have the most experience and work in the best paying regions and industries.
How much does a real estate broker make a year?
The median annual salary for a real estate broker is $72,280. The average (mean) wage of $91,660 runs a bit higher than the median, which is normal for jobs where a group of top earners pulls the average up.
Is being a real estate broker a well paid job?
At $72,280 a year, a real estate broker earns above the $49,500 median for all U.S. jobs. About 49,590 people work as real estate brokers in the United States.
Which state pays real estate brokers the most?
Iowa has the highest median salary for real estate brokers at $116,920 a year. Massachusetts ($112,180) and New York ($94,170) follow. State medians come from the BLS OEWS state files, May 2024.
Is being a real estate broker a good career?
Employment of real estate brokers is projected to hold roughly steady 0.8% from 2025 to 2035, little or no change, compared with 3.5% average growth for all occupations. The BLS projects about 7,800 openings each year, from growth and from workers leaving the occupation.
Do you need a degree to become a real estate broker?
No. The BLS lists the typical entry-level education for real estate brokers as a high school diploma or equivalent, so a four-year degree is usually not required to start.
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