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Real Estate Appraiser, Residential Salary

Residential Real Estate Appraisers in the United States tend to be well-versed in their field, and a little more than half have more than 10 years of experience. Average salary is expected to be around $52K per year, but may range from $31K to $100K per year. Career length and the particular city each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. There are more male Residential Real Estate Appraisers than female among those who completed the questionnaire, making up 68 percent. Although the larger part have medical coverage and just under one-half have dental coverage, nearly two in five claim no health benefits at all. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$31,163 - $98,208
(Median)
$31K
$52K
$98K
MEDIAN: $51,612
10%
50%
90%

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$14.20 - $40.27
(Median)
$14
$24
$40
MEDIAN: $23.00
10%
50%
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$50K$100K$150K
Salary
$31,163 - $98,208  
   
Bonus
$0.00 - $8,261  
Profit Sharing
$300.00 - $9,500  
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).
)
$31,110 - $100,040  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 291
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
$14.20 - $40.27  
   
Overtime
$25.00 - $46.08  
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 - $8,261  
   
Profit Sharing
$300.00 - $9,500  
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).
)
$31,110 - $100,040  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 42

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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.


For Residential Real Estate Appraisers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. 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 $52K. Residential Real Estate Appraisers see a median salary of $59K after reaching one to two decades on the job. People who have worked for more than 20 years report a median income of $62K, which is barely higher than the median for folks with 10 to 20 years of experience.

Related Job Salaries

United States (change)

Experience Affects Real Estate Appraiser, Residential Salaries

Late-Career
up arrow 17%

Experienced
up arrow 10%

National Average
$53,000

Mid-Career
up arrow 3%

Entry-Level
up arrow 22%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 59 votes.

Gender

Female
32 %
Male
68 %

Years of Experience

Less than 1 year
3%
1-4 years
14%
5-9 years
29%
10-19 years
34%
20 years or more
22%

Common Health Benefits

medical benefits Medical: 58% dental benefits Dental: 46%
vision benefits Vision: 37% employee benefits None: 40%