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Study: New York real estate agents earn the most

By Mike Wheatley | July 31, 2020

Real estate professionals are making more money, according to a recent study by the National Association of Realtors. The study shows that the median gross income of affiliated realtors in 2019 was $49,000, up from just $41,800 the year before.

Meanwhile, those with 16 years or more experience tend to make a lot more than the average, earning a median gross income of $86,500 per year, according to the same study.

But real estate pros’ income also varies a lot depending on where they work. A new analysis in Forbes that looked at earnings data for real estate agents and brokers found that big differences in incomes, depending on what state they live in.

The data, which came from the Bureau of Labor Statistics, shows that the highest paid real estate agents tend to live in the Northeast and West regions. For example, the average salary of a real estate agent in New York comes to $111,800 per year, with those in Massachusetts and Connecticut also pulling in big salaries.

Here are the top ten states where real estate agents earn the most:

  1. New York: $111,800 (average real estate agent salary)
  2. Massachusetts: $84,180
  3. Connecticut: $79,780
  4. Alaska: $79,360
  5. Colorado: $76,850
  6. Utah: $75,170
  7. California: $74,140
  8. Texas: $72,830
  9. Wyoming: $71,460
  10. Hawaii: $71,140

Meanwhile, brokers tend to earn slightly more income than real estate agents in most states, the study found. However, the BLS data doesn’t include any figures for 11 states, so the information is less complete. In any case, the analysis found that New Mexico is the best state to be a broker, with average earnings of $112,860 per year.

Here’s the top ten states for brokers:

  1. New Mexico: $112,860
  2. Massachusetts: $109,140
  3. California: $104,120
  4. New York: $99,930
  5. Texas: $95,150
  6. Nevada: $93,850
  7. Wisconsin: $93,400
  8. Maryland: $92,540
  9. Indiana: $89,720
  10. North Carolina: $84,770
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
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