Real Estate Appraiser Salary Data

With all of the recent news on the subprime mortgage crisis, people have become more aware of the important role that real estate appraisers play in determining property values. In residential real estate, the sale price of a house is set largely based on the value estimated by an appraiser. Real estate appraisals are used not only for sales and purchases, however, but also refinancing, legal settlements and other purposes. Many types of properties need to be appraised, from single family homes to shopping malls, but real estate appraisers usually specialize in either residential or commercial real estate.

The Bureau of Labor Statistics lists some favorable real estate salary statistics for appraisers, including a 17 percent employment growth rate projected over the next several years. Additionally, the BLS predicts that appraisers who work independently will experience the highest employment growth rates. PayScale's real estate appraiser salary data also indicates that choosing self-employment may be a wise choice for appraisers. Looking at Real Estate Appraiser Salary by Employer Type, you can see that while many who work in this field are employed at real estate firms, those who are self-employed tend to earn a higher real estate appraiser salary.

Real Estate Salaries and Cost of Living

The requirements to become a real estate appraiser vary from state to state, but before getting licensed, appraisers should compare real estate salaries in different locations. Measuring Real Estate Appraiser Salary by State puts Washington and California at the top of the list. On the Real Estate Appraiser Salary by City report, Los Angeles currently offers the highest median real estate appraiser salary. Of course, Los Angeles may offer higher salaries, but how far will a real estate appraiser salary go given the city's high cost of living? Before heading west, use PayScale's Cost of Living Calculator to research the Cost of Living and Real Estate Appraiser Salary Range in Los Angeles and other cities. For any location, it may take years before an appraiser is really an expert on the factors affecting property values in that area. Partly for this reason, a real estate appraiser salary will generally be higher for those with more on-the-job experience. The chart measuring Real Estate Appraiser Salary by Years Experience shows the median real estate appraiser salary progression after five, 10 and 20 years of experience.

For more on real estate salaries, see how a real estate appraiser salary compares to a Real Estate Agent Salary or Construction Inspector Salary.

Real Estate Appraiser Salary Links

Commercial Real Estate Appraiser Salary
Residential Real Estate Appraiser Salary
Real Estate Appraiser Salary - Trainee
Real Estate Appraiser Salary in Canada