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 somewhere between two-thirds and three-fourths of Residential Real Estate Appraisers. Pay fluctuates from $34K to $94K per year, but expected earnings average $53K annually. Career length is the biggest factor affecting pay for this group, followed by geography. While some workers in this profession — over a third — do not have any health coverage, more than half do receive medical benefits and just over two-fifths have dental insurance. Most Residential Real Estate Appraisers report high levels of job satisfaction. The majority of Residential Real Estate Appraisers (65 percent) who took the survey are men. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$35,055 - $95,189
$35K
$53K
$95K
MEDIAN: $53,334
10%
50%
90%

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$13.77 - $40.98
$14
$23
$41
MEDIAN: $23.17
10%
50%
90%

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$0$97K
Salary $35,055 - $95,189
Bonus $0.00 - $11,745
Profit Sharing $2,250
Commission $62,500
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).
)
$33,603 - $97,677
  • Country: United States
  • Currency: USD
  • Updated: 22 Nov 2017
  • Individuals Reporting: 208
Hourly Data $0$56
Hourly Rate $13.77 - $40.98
Overtime $24.89 - $56.62
Annual Data $0$97K
Bonus $0.00 - $11,745
Commission $62,500
Profit Sharing $2,250
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).
)
$33,603 - $97,677
  • Country: United States
  • Currency: USD
  • Updated: 22 Nov 2017
  • Individuals Reporting: 34

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

  • Calculate estimates of the value of property for sales, mortgages, and loans.
  • Create written reports detailing estimation process and results.
  • 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.

Common Career Paths for Real Estate Appraiser, Residential


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Residential Real Estate Appraisers who go on to become Real Estate Appraisal Managers may see their salaries climb quite a bit. Median pay for Real Estate Appraisal Managers is $77K annually. A Residential Real Estate Appraiser may also move into a role as a Real Estate Appraiser or a Real Estate Appraiser & Assessor.

Real Estate Appraiser, Residential Job Listings

Pay by Experience Level for Real Estate Appraiser, Residential

Pay by Experience for a Real Estate Appraiser, Residential has a positive trend. An entry-level Real Estate Appraiser, Residential with less than 5 years of experience can expect to earn an average total compensation of $39,000 based on 30 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Real Estate Appraiser, Residential with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $50,000 based on 26 salaries. An experienced Real Estate Appraiser, Residential which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $55,000 based on 52 salaries. A Real Estate Appraiser, Residential with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $63,000 based on 26 salaries.

Related Job Salaries

Key Stats for Real Estate Appraiser, Residential

Gender

Female
35 %
Male
65 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.
Less than 1 year
1%
1-4 years
19%
5-9 years
14%
10-19 years
39%
20 years or more
26%

Experience Affects Real Estate Appraiser, Residential Salaries

Late-Career
▲20%

Experienced
▲5%

National Average
$52,000

Mid-Career
▼3%

Entry-Level
▼25%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
1%
1-4 years
19%
5-9 years
14%
10-19 years
39%
20 years or more
26%

Common Health Benefits

medical benefits
Medical: 63%
dental benefits
Dental: 47%
vision benefits
Vision: 41%
no benefits
None: 37%