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Real Estate Appraiser, Residential Salary

Residential Real Estate Appraisers who are practiced in their profession and carry more than 10 years of experience make up more than half of Residential Real Estate Appraisers. Pay fluctuates from $31K to $100K per year, but expected earnings average $51K annually. Career length is the biggest factor affecting pay for this group, followed by geography. Most workers in this position report high levels of job satisfaction. While just over two-fifths report receiving no health benefits, more than half do receive medical coverage, and more than two-fifths have dental, as well. Male Residential Real Estate Appraisers are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
$31,162 - $97,579
(Median)
31K
40K
51K
70K
98K
MEDIAN: $51,465
10%
25%
50%
75%
90%

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$14.26 - $48.18
(Median)
14
23
29
48
MEDIAN: $23.00
10%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$34K$68K$102K
Salary
$31,162 - $97,579  
   
Bonus
$0.00 - $10,017  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$31,311 - $99,597  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 326
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$14.26 - $48.18  
   
Overtime
$25.17 - $73.40  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$0.00 - $10,017  
   
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$31,311 - $99,597  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 43
United States (change)

Job Description for Real Estate Appraiser, Residential

A residential real estate appraiser assesses homes' values for loan, tax, insurance, and other purposes. The appraiser evaluates single-family homes, land, and condominiums, among other residential properties. To obtain an objective and accurate valuation for property, the appraiser needs examine factors such as the history of the property, market trends, an in-person assessment of its condition, and the selling prices of similar homes in the area. After the appraisal has been carried out, the appraiser makes a report documenting the evidence for their valuation; these documents are then given to the appropriate parties, such as the appraiser's manager, a bank, and/or the customer intending to purchase the home.

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Real Estate Appraiser, Residential Tasks

  • Conduct inspections of properties to identify factors which could influence property value.
  • Research property sales history, value of neighboring homes, and the value of homes in the region.
  • Calculate estimates of the value of property for sales, mortgages, and loans.
  • Create written reports detailing estimation process and results.

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Pay by Experience Level for Real Estate Appraiser, Residential

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience does not seem to be a strong driver of pay increase in this role. Respondents with less than five years' experience take home $42K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $51K. Residential Real Estate Appraisers claiming one to two decades of experience make an estimated median of $58K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $62K.

Experience Affects Real Estate Appraiser, Residential Salaries

Late-Career
up arrow 18%

Experienced
up arrow 11%

National Average
$53,000

Mid-Career
up arrow 3%

Entry-Level
up arrow 20%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 70 votes.

Gender

Female
30 %
Male
70 %

Years of Experience

Less than 1 year
2%
1-4 years
12%
5-9 years
31%
10-19 years
33%
20 years or more
22%

Common Health Benefits

medical benefits Medical: 56% dental benefits Dental: 44%
vision benefits Vision: 36% employee benefits None: 43%