Real Estate Agent Hourly Pay in Prior Lake, MN: $21.38 (2026)
Quick Answer:Hourly pay for a real estate agent working in Prior Lake, MN runs $21.38 at the median for 2026 — annualizing to $44,455 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 41-9022). Weighted against Prior Lake's regional price level (BEA RPP 98.5, 1% below national), each hour of work buys what $21.70 nationally would. A 24-hour part-time schedule grosses $26,677 per year.
Based on BLS state-level estimates · View source
In Prior Lake, Minnesota, the projected median hourly pay for real estate agents is $21.38, which is significantly lower than the national average of $25.78. This hourly rate reflects the varied nature of the role, as agents typically work in diverse settings like brokerage offices, on-site property showings, and closing meetings at title companies. The hourly range for real estate agents in the area spans from $13.25 at the entry-level to approximately $33.13 for experienced agents. Many real estate professionals work flexibly, often part-time, which can mean focused working days within a three-day workweek. This flexibility appeals to those looking to balance personal commitments while still engaging in the real estate market, although the hourly earnings suggest that a per diem model is less commonly adopted in Prior Lake.
About the Prior Lake Market
Salary estimated from Minnesota average ($68,000) adjusted for local cost of living.
Real Estate Agent Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $13.25 | $105.97 |
| Lower Range (P25) | $15.93 | $127.40 |
| Median (P50) | $21.38 | $171.01 |
| Upper Range (P75) | $27.35 | $218.83 |
| Top Earners (P90) | $33.13 | $265.04 |
Estimated Annual Income by Work Schedule in Prior Lake
Based on $21.38/hr median hourly rate · 2026 est.
At $21.38/hr, a real estate agent working full-time (40 hr/wk) in Prior Lake, MN can expect to earn approximately $44,462 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $25,651. With a cost-of-living index of 98.50 (below the national average), these earnings stretch further in Prior Lake.
Hourly Rate Calculator
Schedule Comparison in Prior Lake
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $855.04 | $3,705 | $44,462 |
| Part-Time (24 hrs) | $513.02 | $2,223 | $26,677 |
| Per Diem (16 hrs) | $342.01 | $1,482 | $17,785 |
Compare REA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Real Estate Agent (Prior Lake) | $21.38 |
| Real Estate Broker (National Avg) | $42.96 |
| Insurance Sales Agent (National Avg) | $29.02 |
| Property / Real Estate Manager (National Avg) | $33.79 |
| Appraiser / Assessor of Real Estate (National Avg) | $37.18 |
Real Estate Agents in Prior Lake, MN earn a median of $44,455 per year (2026 est.), which is 17.10% lower than the national median of $53,622 and 2.10% below the Minnesota state average of $45,409.
Real Estate Agent Hourly Pay vs. Cost of Living
Working 24h/week at $21.38/hr = $26,677/year (purchasing power: $27,083).
Working 40h/week (full-time) = $44,462/year (purchasing power: $45,139).
CoL index: 98.5 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$19.51/hr
2025 BLS Actual
$21.06/hr
2026 Current Est.
$21.38/hr
2019–2027 Growth
+11.2%
Hourly Rate Trajectory for Real Estate Agents in Prior Lake (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.50% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $19.51/hr | Actual |
| 2020 | $19.55/hr | Actual |
| 2021 | $19.27/hr | Actual |
| 2022 | $19.92/hr | Actual |
| 2023 | $21.65/hr | Actual |
| 2024 | $31.52/hr | Actual |
| 2025 | $21.06/hr | Actual |
| 2026(current) | $21.38/hr | Estimated |
| 2027 | $21.70/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for real estate agents in Prior Lake grew 8.0% from $19.51/hr (2019) to $21.06/hr (2025). At a 1.50% projected growth rate, hourly pay is expected to reach $21.70/hr by 2027. Part-time and per-diem real estate agents can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Prior Lake metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 1.50% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Working as an Hourly Real Estate Agent in Prior Lake
Analyzing the earning potential for part-time agents in Prior Lake reveals that working three days a week (approximately 24 hours) could yield an annual income of around $26,443, which falls short of full-time earnings in the field. For those considering a per diem contracting approach, the income structure is predominantly commission-based. Top producers may earn an hourly equivalent of $100-$300, while newer agents often receive minimal compensation when factoring in time spent on prospecting. Various employer types in the region, including regional brokerages, national franchises, and discount firms, affect hourly pay significantly, with some agents sacrificing higher hourly wages for benefits like health insurance within larger brokers. This leads to the reality that negotiating salaries and structures can be complex, particularly following changes in commission models since the 2024 NAR settlement. Agents in Prior Lake must assess their choices carefully, balancing hourly pay with overall compensation structures based on their career objectives.
More salary data for Prior Lake, MN:
Frequently Asked Questions
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Written by Maria Gonzalez, REALTOR®
Career Analyst
Maria has 10 years of experience as a real estate agent. She specializes in residential properties. She works with a large brokerage in Texas.
Methodology & Data Source
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 1.50% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for real estate agents in Prior Lake. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Prior Lake is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 1.50%, derived from historical BLS wage trends for real estate agents (SOC 41-9022).
Compiled and verified by Maria Gonzalez, REALTOR®, a licensed real estate agent with 10+ years of clinical experience. · View source data at BLS.gov