Real Estate Appraiser, Residential Salary

A large fraction of take-home pay for Residential Real Estate Appraisers comes from commissions — over three-fourths on average, in fact. The median overall income in this field is approximately $52K. Career duration and the particular city each impact pay for this group, with the former having the largest influence. While more than a third report receiving no health benefits, the larger part do receive medical coverage, and one-half have dental, as well. Most workers in this position report high levels of job satisfaction. Men make up the majority of Residential Real Estate Appraisers (67 percent) survey respondents. The data for this synopsis comes from respondents who took the PayScale salary survey.

$32,046 - $98,235

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$12.92 - $38.98

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$34K$68K$102K
Salary
$32,046 - $98,235  
   
Bonus
$0.00 - $8,187  
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).
)
$31,689 - $99,052  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 268
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$17$34$51
Hourly Rate
$12.92 - $38.98  
   
Overtime
$25.00 - $46.08  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$0.00 - $8,187  
   
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).
)
$31,689 - $99,052  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 41
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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, experience does not seem to be a major factor in determining pay. Survey participants with less than five years' experience pocket $42K on average, but those with five to 10 years of experience enjoy a much bigger median of $51K. Residential Real Estate Appraisers who work for 10 to 20 years in their occupation tend to earn about $58K. Residential Real Estate Appraisers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $62K on average.

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Experience Affects Real Estate Appraiser, Residential Salaries

Late-Career
up arrow 19%

Experienced
up arrow 11%

National Average
$52,000

Mid-Career
up arrow 1%

Entry-Level
up arrow 20%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 49 votes.

Gender

Female
33 %
Male
67 %

Years of Experience

Less than 1 year
3%
1-4 years
16%
5-9 years
27%
10-19 years
33%
20 years or more
21%

Common Health Benefits

medical benefits Medical: 62% dental benefits Dental: 49%
vision benefits Vision: 40% employee benefits None: 36%
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