In this section, we want to give you a clear idea of what you can expect to earn in this career. We use two sources of data here: the Bureau of Labor Statistics (BLS), which asks employers to classify their workforce and to report salaries using the SOC-specialty level of reporting, and the American Community Survey (ACS), which asks people to classify their jobs using the broad classifications that ididio uses for career profiles, and to self-report their salaries. For some jobs, the differences in survey approaches between BLS and ACS can paint a very different end-picture. Whenever possible, we provide data from both sources.
The biggest take-away from the following two charts is the relationship between salary and experience that we can infer from age. Does this job seem to attract especially younger or older workers? Does it reward experience?
Take a minute a look at how much you might expect your salary to increase with each five years' experience, as well as how the numbers working in this career changes. We only provide this data when there are enough consistent ACS survey responses to allow a reasonable margin of error, so for some careers you will see gaps in our reporting of salary by age.
With 34% women, this occupation has a lower percentage of women than 51% of careers.
As we'll illustrate at the bottom of this section, the median (middle) salary for all full-time male workers in the US exceeds the full-time median salary for women by 20%, and the difference for appraisers and assessors of real estate tops that, with the median salary for men 31% higher than the median salary for women. This chart shows you the salary range for most workers by gender.
Nationwide there are twenty careers for which men do not have a higher median (middle) salary than women. The chart below shows the salary inequity, the percentage by which the median men's salary is higher than the median women's salary, for most jobs. Appraisers and assessors of real estate have one of the higher percentage increases for men's salary, with the increase for the men's median salary over the women's median salary in this job even higher than that for 80% of other jobs.
The representation of minority and foreign-born workers is quite different between careers, and the relative pay of those workers also varies significantly between careers. There is a smaller percentage of minority appraisers and assessors of real estate than for 94% of other careers. As with minority workers, there is also a smaller percentage of foreign-born workers in this career than in most other careers.
For some careers, there is a pay disparity depending on race or origin, though this is not prevalent. We calculate standard errors for all of our calculations, and when the error is high we do not show results. Therefore, for some jobs will have omitted race/origin categories.
According to the Bureau of Labor Statistics (BLS), appraisers and assessors of real estate typically hold a bachelor's degree.
Sometimes the typical education identified by the BLS differs a bit from the reality of the how much education current workers actually have. The donut shows the education level held by people currently working as appraisers and assessors of real estate as reported in responses to the American Community Survey. Following, we investigate whether education level influences salary for appraisers and assessors of real estate.
Although requirements may vary by state, certified appraisers and assessors of residential or commercial property usually need at least a bachelor’s degree.
College courses in subjects such as economics, finance, mathematics, computer science, English, and business or real estate law can be useful for prospective appraisers and assessors.
Most states set education and experience requirements that assessors must meet in order to practice. A few states have no statewide requirements; instead, each locality sets the standards. In some localities, candidates may qualify with a high school diploma.
Federal law requires appraisers to have a state license or certification when working on federally related transactions, such as appraisals for loans made by federally insured banks and financial institutions. The Appraisal Foundation (TAF) offers information on appraisal licensing. There is no such federal requirement for assessors, although some states require certification. For state-specific requirements, applicants should contact their state board.
Real property appraisers usually value one property at a time, while assessors value many at once. However, both occupations use similar methods and techniques. As a result, assessors and appraisers tend to take the same courses for certification. In addition to passing a statewide examination, candidates must usually complete a set number of on-the-job hours.
The credential level determines what type of property a person may appraise. The four federal appraiser classifications are as follows:
• Licensed Trainee Appraiser
• Licensed Residential Appraiser
• Certified Residential Appraiser
• Certified General Appraiser
Many states offer a Licensed Trainee Appraiser credential to candidates working toward licensure or certification. Training programs vary by state, but they usually require candidates to take at least 75 hours of specified appraiser education before applying for a job as a trainee.
Many states offer the Licensed Residential Appraiser. With this license, a qualified person may appraise noncomplex one-to-four unit residences with a value of less than $1 million and complex one-to-four unit residences with a value of less than $250,000. A candidate must have the following qualifications to get this license:
• 30 semester hours of college-level education
• 150 hours of appraiser-qualifying education
• 2,000 hours of on-the-job training completed over at least 1 year
Being a Certified Residential Appraiser is the minimum requirement to appraise a one to four unit residential property with a loan amount over $250,000. A candidate must have the following qualifications to get this certificate:
• Bachelor’s degree
• 200 hours of appraiser-specific qualifying education
• 2,500 hours of work experience completed over at least 2 years
Being a Certified General Appraiser permits a person to appraise real property of any type and any value. A candidate must have the following qualifications to get this certificate:
• Bachelor’s degree
• 300 hours of appraiser-specific qualifying education
• 3,000 hours of work experience completed over at least 2½ years (1,500 hours must be in nonresidential appraisal work)
For all of these credentials, except the Trainee License credential, candidates must have the following qualifications:
• Have 15 hours of instruction on the Uniform Standards of Professional Appraisal Practice
• Pass an exam
Unlike appraisers, assessors have no federal requirement for certification. In states that mandate certification for assessors, the requirements are usually similar to those for appraisers. For example, the International Association of Assessing Officers (IAAO) offers the Certified Assessment Evaluator (CAE). This designation covers topics that include property valuation for tax purposes, property tax administration, and property tax policy. Applicants are required to have a bachelor's degree prior to obtaining the designation.
For those states that do not require certification for assessors, individual companies often require the candidate to take basic appraisal courses, complete on-the-job training, and meet the work-hours requirements for appraisal licenses or certificates. Many assessors also have a state appraiser license or credential.
Assessors tend to start working in an assessor's office that provides on-the-job training; smaller municipalities are often unable to provide this work experience. An alternate source of experience for aspiring assessors is working for a revaluation firm.
Both appraisers and assessors must take continuing education courses to keep the license or certification. Exact requirements vary by state and certification.
What level of education is truly needed for appraisers and assessors of real estate? Below we see the distribution of appraisers and assessors of real estate salaries based on the education attained. These comparisons are based on all survey responses by those who identified themselves as appraisers and assessors of real estate, and are not intended as a statistical analysis of salary differences that would correct for non-educational factors that could contribute to high or low earnings.
This table shows the college majors held by people working as appraisers and assessors of real estate. Select any degree to see detailed information. We are able to connect careers to degrees using the American Community Survey (ACS), and their degrees are defined a little differently from our programs, which are based on standard CIP classifications. Therefore, selecting some degrees will lead to a selection of CIP-level programs from which to choose.
If you see "**" before the name of a degree/program, that means this field is one that the Department of Education believes is preparatory for this career. However, you can see from this list that those recommendations are far from your only path to this job!
With the following "sankey" diagram, you can follow the top ten bachelor's degrees held by people working as appraisers and assessors of real estate, and then, in turn, you can see the 10 occupations that hire the most of each degree's graduates. This visualization links fields of studies and careers, suggesting both similar careers and options for degrees. The full list of bachelor's degrees held by appraisers and assessors of real estate given in the previous section reminds us that there are many paths to these careers beyond what we can summarize here.
What jobs will most appraisers and assessors of real estate hold next year?
The data in this chart comes from person interviews for the Census Bureau's Current Population Survey. The survey interviews households eight times over a two-year period, allowing us a glimpse into how people move from job to job. You can see more details from the results of the survey in our last tab in this section, and you can read about our methodology in our source descriptions.
Here we see all of the jobs that at least 1% of appraisers and assessors of real estate reported holding in their second year's survey. Is your future job on this list?
A lateral career transition is a move to a job with similar pay and responsibilities. A move to such a job can offer a change of pace without an increase in stress or a decrease in pay. The following table simply identifies all 6 jobs which were held by at least 1% of survey respondents before working as appraisers and assessors of real estate as well as 1% of respondents after working as appraisers and assessors of real estate. Select a row to investigate the job's full description and determine if it truly offers an opportunity for a lateral transition.
What do people typically do before and after they work as appraisers and assessors of real estate? Here are the full lists of all jobs that at least 1% of appraisers and assessors of real estate surveyed reported as holding a year earlier or later.
Appraisers and assessors of real estate typically do the following:
Appraisers and assessors work in localities that they are familiar with so that they know any environmental or other concerns that may affect the property's value.
Appraisers typically value one property at a time, and they often specialize in a certain type of real estate:
When evaluating a property's value, appraisers note the characteristics of the property and surrounding area, such as a view or noisy highway nearby. They also consider the overall condition of a building, including its foundation and roof or any renovations that may have been done. Appraisers photograph the outside of the building and some of the interior features to document its condition. After visiting the property, the appraiser analyzes the property relative to comparable home sales, including lease records, location, view, previous appraisals, and income potential. During the entire process, appraisers record their research, observations, and methods used in providing an estimate of the property’s value.
Assessors value properties for property tax assessments. Most work for local governments. Unlike appraisers, who generally focus on one property at a time, assessors often value an entire neighborhood of homes at once by using mass appraisal techniques and computer-assisted appraisal systems.
Assessors must be up to date on tax assessment procedures. Taxpayers sometimes challenge the assessed value because they feel they are being charged too much for property tax. Assessors must be able to defend the accuracy of their property assessments, either to the owner directly or at a public hearing.
Assessors also keep a database of every property in their jurisdiction, identifying the property owner, assessment history, and characteristics of the property, as well as property maps detailing the property distribution of the jurisdiction.
Can you see yourself in the ranks of appraisers and assessors of real estate? Here are the skills and traits that could lead to success.
In 2018, the median (middle) salary for appraisers and assessors of real estate was higher than 60% of all other jobs' middle salaries. This graphic shows how the salary distribution (adjusted for inflation) has changed for this job over recent years. The gray line, as a comparison, shows the median salary of all US workers.
Currently, jobs for appraisers and assessors of real estate are anticipated to grow by 14% over the next decade; only 13% of jobs are predicted to grow more.
The projected employment for appraisers and assessors of real estate is the best guess created by talented economists and statisticians at the Bureau of Labor Statistics (BLS). However, as you look through several careers you'll notice that the projections are heavily influenced by past performance and may miss current trends. No one can tell the future, and as new information and better techniques are developed, actual counts and future projections may change. Here's a glimpse at the actual counts versus the projections over time.
Some careers tend to be centered in specific parts of the country. For example, most jobs in fashion are in New York or California. Let's see if your dream job is easy to find in your dream location! We have a few choices for viewing the data that can help you get a full employment picture.
Which states hire the most appraisers and assessors of real estate? We wonder if that's a fair question since states come in all sizes, so instead let's start with the question of which states have the highest density of people working as appraisers and assessors of real estate. You can choose to view the number of jobs per state if you prefer.
This map defaults to employment information from the Bureau of Labor Statistics (BLS), which provides job totals carefully compiled for accuracy and with a primary focus on how employers describe their workers. The BLS job totals do not count self-employed workers. We've also compiled totals using the Census Bureau's American Community Survey (ACS) which are based on how workers describe themselves. Sometimes ACS results are quite a bit different from the employer-based BLS data.
We use two methods to compare salaries across states:
We hope the ratio allows perspective about how salaries may compare to the regional cost-of-living.
We have two sources for statewide salary information with important distinctions. The BLS data is created by surveying companies, missing individuals who are self-employed or work for smaller companies. The ACS data is compiled from multi-faceted household surveys and may reflect the inconsistencies that people may have in reporting information.
If this job interests you, then use the dots below to find other jobs you might like. The dots closer to the top represent jobs that are like Appraisers and assessors of real estate (shown with a blue star). Look for the dots to the right to find the best salaries! (We pulled salary data from BLS, and they give a top salary value of just over $200K to protect privacy, so our graph would go much higher if the salaries were not top coded.)
There are a number of ways to measure the similarity of jobs, here are a few we provide: