The real estate landscape is an ever-shifting realm. Using market data from 2022, we’ve compiled a list of what we consider to be the top ten states for agents to work in the new year. If you’re looking for a change, or simply want to see how your state might stack up, read on.
Our Picks for the Best States for Real Estate Agents to Work in 2023
As an agent, you’re bound to face a variety of market changes throughout your career. During slow seasons, you might even wonder if you’re in the right state. Here’s our take on the best places for real estate agents to work in 2023, based on cost of living and average salaries reported in 2022. Some might surprise you!
10. Minnesota
Minnesota, the Land of 10,000 Lakes, is number 10 on our list of the best states for real estate agents in 2023. Known for its good manners and friendly people, this cozy Midwestern gem is no stranger to the comforts of home. From tater tot hotdish to Sweet Martha’s Cookies, Minnesota brags of a reliable comfortability, and the same can be said of its real estate market.
On average, real estate agents in Minnesota make just under $85,000 per year, and the cost of living is just below average, with rents averaging $1,000/month, making it a comfortable spot for an agent to land. The market, however, is fairly stagnant. The average household here is older than average, and the state isn’t enjoying the same rapid growth of a young population, as in Southern and Western states. The supply and demand of homes follows a predictable seasonal pattern, and home sales rarely exceed the asking price.
Ultimately, Minnesota is a comfortable and stable state for a real estate agent to live and work in. And stability is nothing to complain about.
9. Washington
Number nine goes to Washington state, home to some of the most diverse physical geography across the US, including a desert, an ocean, and a bona fide rainforest. Washington pays the highest annual salary for real estate agents at $103,558 per year, making it one of only two states to break into the six-figure average salary range. Houses don’t last long on this market, especially during spring and summer, and Washington is continually growing.
Washington sits at ninth place for cost of living, which is in the top ten highest on USA’s mainland. Rents approach $1,500/month on average, one of the highest-priced housing costs, and higher-than-average groceries and transportation costs. If you’re looking for a beautiful, outdoorsy state to enjoy in the Pacific Northwest where you will always have work, Washington is a great bet; but, it would rank higher for us if you got a little more bang for your buck.
8. Delaware
The First State, these days known for their open-hearted commitment to rescue dogs, comes in at number eight. Average pay in Delaware is around $96,000 per year, putting it in the top ten highest average salaries for real estate agents in the country. For cost of living, Delaware is higher than the median, largely due to the cost of groceries and transportation. Average rent costs between $1,300-$1,400/month. Though you’ll make a pretty penny as an agent, you won’t hoard it quite as easily as some of the other states on our list. Still, you won’t break the bank here.
In terms of surface area, Delaware is the second-smallest state in the nation, and population growth has been slow and steady. In 2022, houses stayed on the market for an average of 30 days. You won’t work like a dog. Overall, the quaint and beautiful state of Delaware has plenty to offer in terms of stability. And crab legs.
7. Indiana
Indiana, home to the Indy 500 and The Fighting Irish, is number seven on our list. It is among the top ten states with the lowest costs of living in the country, and boasts modest population growth among a (relatively) densely populated state. During July 2022, houses only lasted on the market for about 10 days on average—all this to say, during a good season, agents in Indiana stay busy. At other times of the year, houses moved after roughly 20 days.
With an average salary of nearly $84,000 per year, you’re not doing too shabby. If the state had slightly higher pay and a more lucrative market, we would race to get there.
6. Wyoming
Number six on our list of best states for real estate agents is Wyoming. Home to breathtaking National Parks and countless dinosaur discoveries, Wyoming makes a near perfect state for a real estate agent thanks to its incredibly low cost of living—comparable to that of states along the South and Midwest. Real estate agents, on average, bring home just over $86,000/year, and the average rent in Wyoming is only 10% of that income. A tempting ratio.
Though Wyoming experiences a modestly steady growth over 1% annually, it is an even more sparsely populated state than Idaho, with an average of less than 6 people per square mile. With exponential growth in the natural gas industry, the state’s population growth is occurring largely in the rural communities. What you might spend on gas traveling between clients in this state, you’ll make back several times over.
5. Idaho
Idaho may be a surprise on this list, hunkered down at number five. But we think of it as a hidden gem. The average salary for real estate agents in the Gem State is $93,411—falling in the top ten highest salaries for agents in the country. Cost of living rests near the middle of the pack, largely due to transportation costs. It’s a sparsely populated state, with only 19 people per square mile. A great portion of the land is taken up by the Rocky Mountains, lakes, and other uninhabitable space, which contribute to the somewhat sprawling feel of the state.
However, the metropolitan areas are buzzing. As of 2022, Idaho crept up to the 11th fastest growing state, with cities like Middleton, Emmett, and Rathdrum experiencing between 20-40% of sales price increases in the past year. There’s always room for more!
4. Tennessee
Another great place to work as a real estate agent is Tennessee, and not just for the BBQ and Happy Hour whiskey. Agent salaries in Tennessee average at a sturdy $87,204 per year, made even more desirable by one of the lowest costs of living in the country. With the average rent under $1,000/month, you’ll be living comfortably just about anywhere in the state. The market is steadily growing as well, with some cities such as Kingston experiencing a 60% sales price increase in 2022.
As the population continues to grow in Tennessee, there is undeniable opportunity for a healthy real estate career in this beautiful, music-loving state.
3. Virginia
There’s a lot to love about Virginia, starting with its robust history, but it offers more than what’s written in textbooks. As of 2022, Virginia also offers a bright future to many as the 13th fastest growing state in the country. On average, real estate agents in Virginia make the third-highest salary in the US at just over $98,000 per year. And the best part? Cost of living in Virginia falls right around the national average—you won’t break the bank living here.
So keep your powdered wig in the closet. Virginia may just be the place for your future. That’s why we’ve ranked it at number three on our list.
2. Oklahoma
Oklahoma comes in second on our list, thanks to a very low cost of living and an impressively high average real estate agent salary of over $91,000 per year! Oklahoma is best known for its rich Native American history and cultures throughout the state. It’s also home to some amazing housing options—and we aren’t referring to Cave House.
With rents sitting below $900/month on average, the cost of living in Oklahoma is an obvious part of its appeal. And it’s a fast-growing state, especially for young professionals. In 2022, Tulsa saw a near 25% sales price increase. So dust off your saddle and head here for a lucrative real estate career.
1. Nebraska
Coming in at first place, the cornhusker state: Nebraska. While Nebraska is perhaps best known for its wide-open plains, beef production, and Carhenge, it’s also a great state for real estate agents. Between a low cost of living and one of the highest real estate salaries in the country, you’ll both make bank and save it here.
On average in 2022, the earnings of real estate agents in Nebraska stands at $96,436 per month. The average rent is just under $900/month; that’s less than 10% of that salary, meaning your money goes pretty far. These are unbeatable stats, and to add to it, there’s plenty of work available. Though Nebraska’s population growth lands right in the middle of growth rates across the country, Nebraska is consistent in its market trends with no signs of slowing down.
Right now, the fastest growing real estate markets in Nebraska include Bellevue, Fremont, and Beatrice—each hovering near 20% growth in sales price. Ready to get your Big Red on? We thought so.
Top 10 Highest Income-Producing States for Real Estate Agents
Here are some charts showing the data we used to make our selections. The first one shows the states with the highest income for real estate agents. As you can see, not all of these states were included in our list, because we used a number of factors (including cost of living) to determine the best of the best. This chart is broken down from annual salary into monthly, weekly, and hourly pay. This data shows salaries before taxes and other deductions.
| State | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| Washington | $103,558 | $8,629 | $1,991 | $49.79 |
| Maryland | $101,574 | $8,464 | $1,953 | $48.83 |
| Virginia | $98,734 | $8,227 | $1,898 | $47.47 |
| New York | $98,634 | $8,219 | $1,896 | $47.42 |
| Nebraska | $96,436 | $8,036 | $1,854 | $46.36 |
| Delaware | $96,330 | $8,027 | $1,852 | $46.31 |
| California | $93,862 | $7,821 | $1,805 | $45.13 |
| Idaho | $93,411 | $7,784 | $1,796 | $44.91 |
| New Hampshire | $92,735 | $7,727 | $1,783 | $44.58 |
| Oklahoma | $91,116 | $7,593 | $1,752 | $43.81 |
The 10 States with Highest Cost of Living in 2022
Of course, salary isn’t the only factor at play for a livelihood. This table shows the top priciest states to live in, as some of these states also offer the highest average salaries for real estate agents. Cost of living is determined by a number of factors, including the average costs of groceries, housing, healthcare, and others, as shown in this chart. The higher the cost index, the less budget-friendly the state.
| State | Cost Index | Grocery | Housing | Utilities | Transportation | Misc |
| Hawaii | 193.3 | 152.9 | 315 | 164.2 | 133.7 | 126.7 |
| New York | 148.2 | 118.4 | 230.1 | 99.8 | 108.7 | 114.8 |
| California | 142.2 | 113.7 | 201.9 | 124.3 | 131.7 | 111.3 |
| Massachusetts | 135 | 119.3 | 177.6 | 111.1 | 111.3 | 116.1 |
| Oregon | 130.1 | 107.8 | 172.6 | 90.2 | 125.9 | 118.5 |
| Alaska | 127.1 | 134.5 | 126.9 | 154.8 | 109.9 | 113.7 |
| Maryland | 124 | 110.4 | 165.9 | 105.1 | 107.6 | 108 |
| Connecticut | 121.6 | 106.4 | 134.6 | 132.4 | 111.1 | 114.1 |
| Rhode Island | 117.2 | 107.7 | 121.7 | 127.6 | 107.6 | 118.7 |
| Vermont | 117 | 109.2 | 136.2 | 119 | 114.2 | 104.1 |
Whether You’re Looking to Move…
…or just want to see where your state stacks up, we’ve got your back. Between stable markets, high pay, and low cost of living, some of these states have a lot to offer. As you advance in your real estate career, it’s always a good idea to keep an eye on the hottest markets and the best opportunities for growth.
Regardless of where your state falls, we’ll help you make sure you have all the tools you need to be as successful as possible. Whether you’re here to get started on your Pre-Licensing or you’re in a groove with your Continuing Education courses, you’ve come to the right place! We offer 100% online courses that stand apart from the rest in the industry. Get grooving on your courses today!