Real Estate Agent Salary in Waterford, MI: $57,196 (2026)
Quick Answer:A full-time real estate agent in Waterford, MI earns a median $57,196/year (≈ $27.50/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-9022). Once you factor in Waterford's price level (7% below national, BEA RPP 93.2), that paycheck buys what $61,369 would nationally. Nominal pay sits 2.4% below the Michigan state average.
Based on BLS state-level estimates · View source
In the context of a changing commission structure following the 2024 NAR settlement, Waterford, MI, offers a competitive compensation landscape for real estate agents, with a projected median annual salary of $57,196 in 2026. The salary range for this occupation varies considerably, from $36,884 at the lower end (P10) to as high as $88,654 for top earners (P90). Estimates derived from 2025 BLS data, adjusted for regional price parities, indicate that real estate professionals in Waterford are experiencing a salary increase relative to the national median of $53,622, which positions local earnings about 6.67% higher than this national average. This dynamic environment affects not only how much agents can earn but also sets the stage for varied market opportunities and challenges in Waterford's real estate sector.
About the Waterford Market
Salary estimated from Michigan average ($58,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $36,884 | $17.73 |
| Lower Range (P25) | $43,813 | $21.06 |
| Median (P50)(typical) | $57,196 | $27.50 |
| Upper Range (P75) | $73,211 | $35.20 |
| Top Earners (P90) | $88,654 | $42.62 |
Median Salary Position
6.67% above the national average
2026 Salary Percentile Distribution in Waterford
In Waterford, MI, the real estate agent salary spread from the 10th to 90th percentile is $51,770 (2026 est.). At $57,196, the local median is 6.67% above the national median of $53,622.
Salary Calculator
At 40 hours/week in Waterford: You'd be in the lower-middle range
How Waterford Real Estate Agent Pay Compares
Waterford median: $57,196/year (2026)
| Compared To | Median Salary | Waterford Pays |
|---|---|---|
| Michigan Average | $58,603 | -2.40% less |
| National Average | $53,622 | +6.67% more |
Real Estate Agents in Waterford, MI earn a median of $57,196 per year (2026 est.), which is 6.67% higher than the national median of $53,622 and 2.40% below the Michigan state average of $58,603.
Cost-of-Living Adjusted Salary
Waterford has a cost of living 6.80% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Waterford, MI has a cost-of-living index of 93.2 (below the national average of 100). A real estate agent earning $57,196 nominally has purchasing power equivalent to $61,369 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$52,191
2025 BLS Actual
$56,351
2026 Current Est.
$57,196
2019–2027 Growth
+11.2%
Salary Trajectory for Real Estate Agents in Waterford (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.50% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $52,191 | Actual |
| 2020 | $52,308 | Actual |
| 2021 | $51,562 | Actual |
| 2022 | $53,311 | Actual |
| 2023 | $57,919 | Actual |
| 2024 | $52,751 | Actual |
| 2025 | $56,351 | Actual |
| 2026(current) | $57,196 | Estimated |
| 2027 | $58,054 | Projected |
Based on 7 years of BLS OEWS data for the Waterford metropolitan area, the median real estate agent salary grew 8.0% from $52,191 (2019) to $56,351 (2025). At a 1.50% compound annual growth rate, salaries are projected to reach $58,054 by 2027 — a total increase of $5,863 (11.23%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Waterford 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.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $36,884 – $43,813 |
| 3-5 years (Mid Career) | $43,813 – $57,196 |
| 5+ years (Experienced) | $57,196 – $73,211 |
| 10+ years (Top Earner) | $73,211 – $88,654 |
REA salary ranges estimated from BLS percentile data. Individual real estate agent compensation varies by employer, certifications, and specialization.
Real Estate Agent Job Market in Waterford
Despite having just 16 licensed agents operating in Waterford, the local real estate market remains buoyant, buoyed by a relatively affordable cost of living index of 93.2. This figure allows agents' earnings to stretch further, providing a better quality of life compared to areas with higher living costs. Employers in the area include various national franchise brokerages like Keller Williams and RE/MAX, which tend to offer higher commission splits and training support for newer agents. The range of salaries largely reflects transaction volumes, average sale prices, and individual strategies in navigating commission structures after the NAR settlement. Agents seeking to maximize their pay should consider focusing on niche markets, such as luxury properties or commercial real estate, where potential income can significantly exceed traditional residential transactions. Understanding local market dynamics and establishing strong referral networks will be essential for success in this competitive environment.
More salary data for Waterford, MI:
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
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $56,351 for real estate agentsin the Waterford metropolitan area. A 1.50% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Waterford 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